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
- 11 Principles of Economics
- Being an economist
- Basic price theory
- Consumer behaviour
- Production theory
- Factor of Production
- Microeconomic policies
Assessments
- Task 1 – TOMI analysis 5%
- Task 2 – Demand analysis 5%
- Task 3 – Consumer analysis 5%
- Weekly News analysis I 5%
- Midterm exam 20%
(Marks out of 40% to be announced before withdraw deadline) - Task 4 – Production analysis 5%
- Task 5 – Production factors 5%
- Task 6 – Microeconomic policy 5%
- Weekly News analysis II 5%
- Attendances (class and events) 10%
- Blogging 10%
- 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)
- Coursera on “Microeconomics Principles”
by Dr. José J. Vázquez-Cognet (University of Illinois)
Click link here - MIT OWC on “Principles of Microeconomics”
by Prof. Jonathan Gruber
Click link here
HOT:
REVIEW post for Midterm Exam Click here
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
- People face tradeoffs
- The cost of something is what you give up to get it
- Rational people think at the margin
- People respond to incentives
- Trade can make everyone better off
- Markets are usually a good way to organize economic activity
- Governments can sometimes improve market outcomes
- A country’s standard of living depends on its ability to produce goods and services
- Prices rise when the government prints too much money
- Society faces a short-run tradeoff between Inflation and unemployment
Class Presentation (Prezi)
Double click on the picture bellows or here
VDO
Other resources
2. Thinking likes an Economist
- PowerPoint Slide (PDF)