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Introduction To Economics Course Outline

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50 views3 pages

Introduction To Economics Course Outline

Uploaded by

edlawitlemma22
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Addis Ababa University

College of Business and Economics


Department of Economics

Course: Introduction to Economics Email: amsalueco21@gmail.com


Credit Hours: Three (3/5)
Course code: Econ 1011 Ac. Years: 2017/2024
Program: Degree Instructors: Amsalu B.(MSc.)

Course Objectives:
This course is designed to introduce students to principles essential to
understanding the basic economizing problems, specific economic issues, and policy
alternatives available for dealing with them. Even though it is a difficult task to cover
all the issues contained in the course in one semester under graduate course, a lot of
effort will be exerted to acquaint students with the basics of economics. You are
expected to use the reserve materials with the appropriate care and due
consideration to your fellow students. You are expected to read the assigned
materials before you come to class and actively participate in class discussion.

COURSE OUTLINE
Chapter One: Basics of Economics 1.4 Scarcity, choice, opportunity cost and
1.1 Definition of economics PPF
1.2 The rationales of economics 1.5 Basic economic questions
1.3 Scope and method of analysis in 1.6 Economic systems
economics 1.6.1 Capitalist economy
1.3.1 Scope of economics 1.6.2 Command economy
1.3.2 Positive and normative analysis 1.6.3 Mixed economy
1.3.3 Inductive and deductive reasoning in 1.7 Decision making units and the circular
economics flow model

pg. 1
Chapter Two: Theory of Demand and 4.2.2 Total, average and marginal costs in
Supply the short run
2.1 Theory of demand 4.2.3 The relationship between short run
2.1.1 Demand schedule (table), demand production and cost curves
curve and demand function Chapter Five: Market Structure
2.1.2 Determinants of demand 5.1. The concept of market in physical and
2.1.3 Elasticity of demand digital space
2.2 Theory of supply 5.2. Perfectly competitive market
2.2.1 Supply schedule, SS curve and SS 5.2.1 Assumptions of perfectly competitive
function market
2.2.2 Determinants of supply 5.2.2 Short run equilibrium of the firm
2.2.3 Elasticity of supply 5.2.3 Short run equilibrium of the industry
2.3 Market equilibrium 5.3. Monopoly market
Chapter Three: Theory of Consumer 5.3.1. Definition and characteristics
Behaviors 5.3.2. Sources of monopoly
3.1 Consumer preferences 5.4. Monopolistically competitive market
3.2 The concept of utility 5.5. Oligopoly market
3.3 Approaches of measuring utility Chapter Six: Fundamental Concepts of
3.3.1 The cardinal utility theory Macroeconomics
3.3.2 The ordinal utility theory 6.1. Goals of macroeconomics
Chapter Four: The Theory of Production 6.2. The National Income Accounting
and Cost 6.2.1. Approaches to measure national
4.1 Theory of production in the short run income (GDP and GNP)
4.1.1 Definition of production 6.2.2. Other income accounts
4.1.2 Production function 6.3. Nominal versus Real GDP
4.1.3 Total, average, and marginal product 6.4. The GDP Deflator and the Consumer
4.1.4 The law of variable proportions Price Index
4.1.5 Stages of production 6.5. The Business Cycle
4.2 Theory of costs in the short run 6.6. Macroeconomic Problems
4.2.1 Definition and types of costs 6.6.1. Unemployment
6.6.2. Inflation

pg. 2
6.6.3. Trade deficit and budget deficit 6.7.1. Monetary policy
6.7. Macroeconomic policy instruments 6.7.2. Fiscal policy
Grades: The students should regularly attend the class - please be informed
that 85% attendance is mandatory to qualify for final exam. Moreover, 50% of
your result will depend on continuous assessment of your performance by;
Mid exam……………………..………30%
Assignments (IA & GA) …………..…20%
Finally exam ……………...…………..50%
REFERENCE
 MC Connell – Bruce, Economics Principles, Problems, and Policies, 1999
14th ed, The McGraw – Hill co. Inc.
 P.A. Samuelson and W.D. Nordhaus, Economics, 13 thed, 1989, The
McGraw-Hill co. Inc.
 Edward Shapiro, Macroeconomic Analysis, 5thed
 Gregory, Paul R-F. Ruffin, J. Roy, Principles of Macroeconomics, Foreman
and co. 3rded. 1988
 Any other introductory text book may serve the same purpose

pg. 3

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