Fundamentals of Economics (ECON 211) Course Details

Course Name: Fundamentals of Economics
Code: ECON 211
Pre-requisite Course(s):
Objective: The principal objective of ECON 211 is to introduce students the essentials of both micro and macroeconomics. This course focuses on development of basic theory of demand, supply, and market price and explores applications of selected microeconomic problems, such as basic monopoly and competition, and other issues that relate to the role of the pricing system in resource allocation and income distribution. Also in this course we will learn the introductory concepts in macroeconomics such as national income and output, aggregate expenditure, equilibrium etc.
Content: The course focuses on both household, and firm behavior, and how their interactions determine those allocations. In this respect, consumer attitudes and utility maximization behaviors and the profit maximization under different market structures are investigated. In macroeconomic part of the course we will discuss the notions like national income, gross domestic product, GDP deflator along with the short run and long run macroeconomics concerns of business cycles, recession, unemployment, price stability etc.
Term: Autumn
Theory: 4
Application: 0
Laboratory: 0
Credit: 4
Course File: