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ECON101 – Principles of Economics I

Course Description

Basic concepts in economics. Elementary price theory.Theory of consumer behavior. Production theory and factors of production. Microeconomic policy.

Course Syllabus

  1. 11 Principles of Economics
  2. Being an economist
  3. Basic price theory
  4. Consumer behaviour
  5. Production theory
  6. Factor of Production
  7. Microeconomic policies

Assessments

  1. Task 1  – TOMI analysis                        5%
  2. Task 2 – Demand analysis                    5%
  3. Task 3 – Consumer analysis                5%
  4. Weekly News analysis I                        5%
  5. Midterm exam                         20%
    (Marks out of 40% to be announced before withdraw deadline)
  6. Task 4 – Production analysis               5%
  7. Task 5 – Production factors                 5%
  8. Task 6 – Microeconomic policy          5%
  9. Weekly News analysis II                       5%
  10. Attendances (class and events)       10%
  11. Blogging                                                     10%
  12. Final exam                                 20%

Grading

A >= 80, B+ >= 75, B >= 70, C+ >= 65, C >= 60, D+ >= 55, D >= 50, F < 50
Note: No negotiation, Marks will be rounded up if >= 0.5

External Open Courses

(Please enroll to enhance your comprehension and GET EXTRA MARKS)

  1. Coursera on “Microeconomics Principles
    by Dr. José J. Vázquez-Cognet (University of Illinois)
    Screen Shot 2013-11-07 at 3.24.10 AM
    Click link here
  2. MIT OWC on “Principles of Microeconomics
    Screen Shot 2013-11-07 at 3.24.23 AMby Prof. Jonathan Gruber
    Click link here

HOT:

REVIEW post for Midterm Exam Click here

Cartoon-Introduction-to-Economics-1

Picture: The Cartoon Introduction to Economics: Volume One: Microeconomics
by 
Yoram Bauman (Author), Grady Klein (Illustrator) (Amazon)

This page hosts the information related to two topics I was assigned to teach the first year Economics students. The two topics are actually the first two of the Mankiw’s classical Principles of Economics).

1. Ten Principles of Economics

  1. People face tradeoffs
  2. The cost of something is what you give up to get it
  3. Rational people think at the margin
  4. People respond to incentives
  5. Trade can make everyone better off
  6. Markets are usually a good way to organize economic activity
  7. Governments can sometimes improve market outcomes
  8. A country’s standard of living depends on its ability to produce goods and services
  9. Prices rise when the government prints too much money
  10. Society faces a short-run tradeoff between Inflation and unemployment

Class Presentation (Prezi)

Double click on the picture bellows or here

Screen Shot 2013-06-07 at 11.44.38

VDO

Other resources

2. Thinking likes an Economist

  • PowerPoint Slide (PDF)

Presentation (Prezi)

Screen Shot 2013-06-07 at 18.08.51

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