PRINCIPLES OF ECONOMICS
Course Title
Course Code
Credit
Equivalent Course
Prerequisite
Coordinator
Program Level
Program
Instruction Language
Requirement in Business English Program
Applicable for Business English Program
Semester in Business English Program
Overview
This course provides students with economic concepts, theories and analytical techniques. It covers both microeconomics and macroeconomics. The use of a market, supply and demand, model will be the fundamental model in which trade-offs and choices will be considered through comparison of costs and benefits of actions. The course also covers macroeconomic issues related to the interaction of goods and services markets, labor and money. The role of government policy to address microeconomic market failures and macroeconomic objectives will be considered.
Objectives
| Goals | Goal description |
|---|---|
| G1 | Basic knowledge of microeconomics and macroeconomics, the general rules of economics and economic forecasts |
| G2 | Ability to analyze microeconomic models which can be used to consider fundamental economic choices of households and firms and macroeconomic models can be used to analyse the economy as a whole. |
| G3 | Communication, teamwork and oral presentation skills on principles of economics in English |
| G4 | Ability to interpret and use economic models, diagrams and tables to analyse economic situations |
Learning Outcomes
| Outcomes | Description |
|---|---|
| G1 |
Explain the basic economic concepts and differentiate between macroeconomics and microeconomics |
| G2 | Analyze microeconomic models which can be used to consider fundamental economic choices of households and firms Analyze macroeconomic models which can be used to analyse the economy as a whole. |
| G3 | Develop communication and oral presentation skills Develop teamwork skills and other essential skills to succeed in a multicultural workplace |
| G4 | Interpret economic models, diagrams and tables Evaluate economic models and use diagrams and tables to analyze economic situations |
Materials
Gans, J., King, S., Stonecash, R., & Mankiw, N. G. (2011). Principles of economics. Cengage Learning.
Seager, H. R. (2012). Principles of economics. H. Holt.
Taussig, F. W. (2013). Principles of economics (Vol. 2). Cosimo, Inc..
Assessment
| Tasks | Percentage |
|---|---|
| Assignments, Participation | 15% |
| Minitests | 10% |
| Midterm tests | 15% |
| Projects | 10% |
| Final exam | 50% |
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