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    Course Outline (Econ 101)

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    Ali Hassen
    This course introduces fundamental concepts of microeconomics and macroeconomics. The microeconomics portion covers basic economic principles like scarcity, demand and supply, elasticity, and production theory. It also examines consumer behavior and the different market structures. The macroeconomics section addresses topics such as measuring GDP, unemployment, inflation, and fiscal and monetary policy. The course aims to equip students with key economic theories and analytical tools through lectures, assignments, a midterm, and final exam.

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    Course Outline (Econ 101)

    Uploaded by

    Ali Hassen
    54 views2 pages
    This course introduces fundamental concepts of microeconomics and macroeconomics. The microeconomics portion covers basic economic principles like scarcity, demand and supply, elasticity, and production theory. It also examines consumer behavior and the different market structures. The macroeconomics section addresses topics such as measuring GDP, unemployment, inflation, and fiscal and monetary policy. The course aims to equip students with key economic theories and analytical tools through lectures, assignments, a midterm, and final exam.

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    This course introduces fundamental concepts of microeconomics and macroeconomics. The microeconomics portion covers basic economic principles like scarcity, demand and supply, elasticity, and production theory. It also examines consumer behavior and the different market structures. The macroeconomics section addresses topics such as measuring GDP, unemployment, inflation, and fiscal and monetary policy. The course aims to equip students with key economic theories and analytical tools through lectures, assignments, a midterm, and final exam.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    54 views2 pages

    Course Outline (Econ 101)

    Uploaded by

    Ali Hassen
    This course introduces fundamental concepts of microeconomics and macroeconomics. The microeconomics portion covers basic economic principles like scarcity, demand and supply, elasticity, and production theory. It also examines consumer behavior and the different market structures. The macroeconomics section addresses topics such as measuring GDP, unemployment, inflation, and fiscal and monetary policy. The course aims to equip students with key economic theories and analytical tools through lectures, assignments, a midterm, and final exam.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    ADDIS ABABA UNIVERSITY

    SOUTHERN CAMPUS
    DEPARTMENT OF ARCHITECTURE
    Course Title: Introduction to economics
    Course No: Econ 101
    Instructor: Eyasu Kumera
    Course Objective This course basically introduces the fundamental concepts microeconomics
    and macroeconomics. The microeconomics section introduces
    fundamental economic concepts such as scarcity, opportunity cost, the
    laws of demand and supply and elasticity. Concepts of a competitive
    market and the essence of short-run production theory and profit
    maximization are covered in this part of the course. Topics related to the
    concept, measurement and problems of economy-wide performance are
    treated under the macroeconomic part of the course.
    Course Outline

    1. Introduction
    1.1 Definition of Economics
    1.2 The Concept of Human Needs
    1.3 Scarcity and Choice
    1.4 Elements of Economic System
    1.5 The Circular Flow of Economic Activities
    1.6 Method, Types and Levels of Economic Analysis
    1.7 Fundamental (Basic) Economic Problems and Alternative Systems
    1.8 The Production Possibility Frontier
    2. Micro Economics
    2.1. Theory of Demand and Supply
    2.1.1. Demand Analysis
    2.1.2. Supply Analysis
    2.1.3. Market Equilibrium
    2.1.4. Elasticities
    2.2. Theory of Consumer Behavior
    2.2.1. Cardinal Utility
    2.2.1.1. Total and Marginal Utility
    2.2.1.2. Consumer’s Equilibrium
    2.2.2. The Budget Line
    2.2.2.1. Shift and Rotation of the Budget Line
    2.2.3. Ordinal Utility
    2.2.3.1. The Indifference Curve
    2.2.3.2. Marginal Rate of Substitution
    2.2.3.3. Consumer’s Equilibrium Using Ordinal Approach
    2.3. Theory of Production
    2.3.1. Concepts of Production and Production Functions
    2.3.2. Production in the Short-Run and the Stages of Production
    2.3.3. Production in the Long-run concepts of Iso-quant, Iso-Cost and Producer’s
    2.4. Theory of Cost
    2.4.1. Short-Run Costs and Short-Run Cost Curves
    2.4.2. The Conventional Short-Run Cost Curves
    2.4.3. Long-Run Costs and Long-Run Cost Curves
    2.4.4. Accounting Costs and Economic Costs
    2.5. Analysis of Market Structure
    2.5.1. Meaning, Elements and Classification of Market
    2.5.2. Conditions for the Existence of Perfect Market
    2.5.2. Short Run Equilibrium of the Firm
    2.5.3. Short Run Profit or Loss?
    2.5.4. Short run Supply Curve
    2.5.5. Long Run Equilibrium of the Firm
    2.5.6. Imperfect Competition
    3. Macro Economics
    3.1. Introduction to Macroeconomics
    3.2. Objectives and Instruments in Macroeconomics
    3.3. National Income: Concept and Measurement
    3.3.1. Basic Concepts of Gross Domestic Product (GDP), Gross National Product
    (GNP) and Others
    3.3.2. Measurement of GNP
    3.3.3. Shortcomings of National Income Accounting System
    3.4. Major Macroeconomic Problems
    3.4.1 Unemployment
    3.4.2 Inflation
    3.5. Aggregate demand and supply
    3.6. Economic policy instruments: monetary, fiscal and income policy

    References
    1) Cambell R. McConnel, Economics: principles, problems and policies, McGraw-Hill, New
    York.
    2) David N. Hyman (1989), Economics, Trwin, Boston.
    3) Paul A. Samuelson and William D. Nordhaus (1989), Economics, McGraw-Hill.
    4) W.J. Boumol and A.S. Blinder, Economics: principles and policy, Harcout Brace Jouncbich,
    inc.k, New York, any edition.
    5) Gregory, paul R.F. Ruffin, J,ROY, Principles of Macroeconoimics Foreman and Company
    Boston, 3rd ed, 1988
    6) Bowden, E.V. Economics, the Science of Common Sense, 5th ed
    7) Jhingan, M.L Macroeconomic Theory,
    Theory, Dechi , 1998

    Any other introductory textbook can be used as a reference.

    Student Evaluation
    Students will be evaluated on the basis of one/two assignments, one mid-term exam and one final
    exam, the weights for each will be as follows: Assignment(s) (10%), Mid-term Exam (30%) and
    Final Exam (60%.

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