Introduction to Economics

COURSE DESCRIPTION

This course aims at introducing to the students key concepts of micro and macroeconomics such as efficiency and equity, utility and demand, output and costs, economic growth, saving and investment balance, economic policies. The course will stimulate a discussion environment among students in addition to the provision of theoretical knowledge.

GENERAL LEARNING OUTCOMES (COMPETENCES)

On successful completion of this course, all students are expected to have an analytical understanding of relationships between different economic variables and of economic policy both in theory and practice and capable of presenting economic issues with graphs, tables and essays. The students are expected to develop knowledge and understanding of basic economic concepts and discussions such as:

Ø  Basic Economic Concepts

Ø  Supply and Demand Analysis

Ø  Elasticities

Ø  Production and costs at firm level

Ø  GDP and Economic Growth

Ø  Fiscal and Monetary Policy

Ø  Externalities and Public Goods