Courses Detail Information

ECON1011J – Principles of Economics

Instructors:

Credits: 3

Pre-requisites:

Description:

This is an introductory course to economics. This course introduces the principles of microeconomics and macroeconomics, and more importantly, an economic way of thinking. We will first focus on microeconomics, which is the study of the consumers and producers in markets, and then move on to macroeconomics, which covers topics including economic growth, inflation, unemployment and the financial system.

Course Topics:

1.Introduction, ten principles of economics, the gains from trade
2.Supply and demand, elasticity
3.Government policies, markets and welfare
4.Externalities, public goods
5.Production, firms in competitive markets, monopoly, monopolistic competition, oligopoly
6.Measuring a nation??s income, measuring the cost of living
7.Production and growth, saving, investment and the financial system, unemployment
8.Open-economy macroeconomics, short-run economic fluctuations