Economics

Class Assignments

Microeconomics Lecture Notes

Macroeconomics Lecture Notes


 

ECONOMICS

MBA 502

S. Atri                                                                                                                                                          Fall 2002
Mahar Hall 437

Office Hours
Monday - 1:45 - 2:30 PM
Wednesday - 2:00- 3:15 PM
Thursday - 11:30- 12:30
Other times: by appointment

 SYLLABUS

Course Description:
 This course is an overview of the basic microeconomic and macroeconomic models  which are essential as a foundation for further study in economics and various business fields. Following an introduction to the fundamental economic problems and issues, the tools of economic analysis will be discussed. Next, in the context of a simple supply and demand model, the functioning process of the market system will be addressed. The microeconomic section of the course primarily concentrates on the study of the behavior of individual economic units such as consumers and firms. The macroeconomic section deals with the overall performance of the economy, often measured in terms of economic aggregates such as the GNP, the price level and the employment level. Finally, different issues related economic growth and development will be addressed.

Text Book:
Lieberman, Marc and Hall, Robert E.,  Introduction to Economics, South-Western, New York: 2001
Note: There is a “Study Guide” available for this book which is not required, but students  who wish to have it may order it through the College Book Store.

Evaluation Methods:
 The evaluation of students will be based upon:
 a. In-class and take-home examinations
 b. Homework assignments/short essays on contemporary issues
 c. Participation in class discussions and the level of
    preparedness for such discussions.

Course Outline
 Introduction:
  -What is Economics?
  -The Economic Way of Thinking
  -The Basic Economic Problem and Economic Systems
  -The Concept of "Opportunity Cost"
  -The U.S. Economy
  -Specialization and Trade
  -Tools of Economic Analysis
  -Supply, Demand, and the Market

 Microeconomics:
  -Households, Businesses (firms) and Governments as  Economic Actors
  -Consumer Choice and Price Signaling
  -Labor Supply and the Choice between Leisure and Work
  -The Theory of The Firm: Production and Costs
  -Equilibrium Under Competitive Conditions
  -Production Under Different Market Structures
  -Monopolies, Oligopolies and Imperfect Competition
  -Markets for Productive Resources
  -Externalities and Public Goods
  -Taxes and Income Redistribution
  -Public Choice

 Macroeconomics
  -Macroeconomic Issues and Goals
  -Employment and the Market
  -Aggregate Demand
  -Monetary Theory
  -Fiscal and Monetary Policy
  -Macroeconomic Policy: Inflation Versus Unemployment
  -Economic Growth and Productivity
  -Economic Systems and Economic Development