Year I

This course will provide you with a basic understanding of the principles of microeconomics. At its core, the study of economics deals with the choices and decisions we make to manage the scarce resources available to us. Microeconomics is the branch of economics that pertains to decisions made at the individual level, such as the choices individual consumers and companies make after evaluating resources, costs, and tradeoffs. In this course, we discuss how and why we make economic decisions, and how our choices affect the economy. By the end of this course, students will have a strong grasp on the major issues microeconomists face, including consumer and producer behavior, the nature of supply and demand, the different kinds of markets and how they function, and the welfare outcomes of consumers and producers.

Recommended Readings:

• Mankiw, N.G (2017). Principles of Microeconomics. 8th edition, Toronto: Cengage Learning
• McConnell, C.R., Brue, S.L., and Flynn, S.M. (2009). Economics: Principles, problems and policies, Boston:McGeraw-Hill Irwin.

No: of Credits: 3

Pre-Requisites: None

Compulsory/Optional: Compulsory

The purpose of this course is to familiarize the student with the generally accepted principles of macroeconomics. Macroeconomics is concerned with such things as, economic growth, unemployment, inflation, and the business cycle. Though ultimately based on the actions of individual households and business firms (microeconomics), macroeconomics deals with aggregates–i.e., consumers as a whole, producers as a whole, exporters and importers as a whole, fiscal policy –the effects of government spending and taxation, and the monetary policy of the central bank.

The course is subdivided into several major areas as follows: (1) macroeconomic foundation; (2) national income accounting; (3) growth; (4) inflation; (5) unemployment; (6) money and banking; (7) international trade and the exchange rate; (8) the business cycle; (9) national income determination with the effects of fiscal and monetary policy included; (10) an explanation of our current situation.

Recommended Readings:

• Gregory Mankiw, (2012) Macroeconomics, Seventh (7th) Edition
• Rediger Dornbuseh and Ficher S., (1978), Macroeconomics, McGraw-Hill Inc.
• Lipsey Richerd and Harbury, C., (1992), First Principles of Economics, 2nd Edition, Oxford University press.
• Abel Amdrew and B.S.Barnanke, (2003), Macroeconomics,4th Edition, Pearson Education, Dilhi, India.

Lecture: 30 Hours

Tutorial :15 Hours

Continuous Assessments: 20%

Final Assessment: 80%