The principal objective of
ECON 101 is to introduce students to
microeconomics. In doing so, it aims to equip students with the basic
concepts and tools used in microeconomic analysis.
COURSE OUTLINE
Textbook:
Case, K. E., and R. C. Fair (2006) Principles of Economics,
8th
Edition, Pearson/Prentice Hall.
Supplementary Textbook: Taylor, J. B. (2004) Economics, 4th
Edition, Houghton Mifflin.
Topics
·
The scope and method
of economics
·
Scarcity
Choice
and Opportunity Cost
·
Comparative Advantage and the Gains from Trade
·
The
Demand and
Supply
Model
·
Applications: The
Demand and
Supply
Model
·
Elasticity and Its Applications
·
The
Behaviour of
Consumers
·
The
Behaviour of
Firms
·
Costs and production
decisions: Short-run
·
Costs and production
decisions: Long-run
· Perfect
vs imperfect competition:
An Overview
·
Monopoly
·
Monopolistic
Competition
and
Oligopoly
·
Perfect
Competition vs Monopoly:
Deadweight Loss, Efficiency and
Technology
COURSE ASSESSMENT
Grading
of the course will be as follows:*
Quizzes, Homework, Attendance &
Participation.................................................................15%
Midterm
Exam..............................................................................................................................35%
Final
Exam....................................................................................................................................50%
*This
grading scheme is not final. It may change during the semester.
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