SEMESTER: Fall 2014
Faculty Member’s Details
Name:
Email:
Web Site:
Athina Kyriakidou-Christofidou athina@prasinipriza.com http://www.cdacollege.com/business-studies-ll/professors.php?userid=38
Course Description
The purpose of the course is threefold: a) to instill in students an understanding and appreciation of how the economy in which they participate works; b) to enable students to critically evaluate the action policy makers undertake when the economy fails to function effectively on its own; and to help students understand how any economy is linked to and affected by the rest of the world. The course covers important issues such as unemployment and price stability, and possible government policies to deal with these issues.
Learning Outcomes
By the end of the course, students are expected to:
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Understand and appreciate how the economy in which they participate works;
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Critically evaluate the action policy makers undertake when the economy fails to function effectively on its own; and
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Understand how any economy is linked to and affected by the rest of the world.
Prerequisites: ECO101 or Consent of Instructor
Type of Course: Compulsory for Bachelor in Business Administration
Teaching Methods: Lectures, presentations, videos, cartoon analysis, problem and case studies discussion, articles discussion, independent and private study, preparation of projects, fieldwork and group work.
Course Teaching Hours: 39 hours a semester. The course is delivered during a 13-week semester.
Assessment method and weight: 50% coursework and 50% final examination. Coursework can be one or more of the following: mid-term examination, tests, assignments and projects. Passing mark 50%.
Business Studies Grading System:
% Grade Grade Grade Meaning
90-100
80-89
A
B+
Excellent
Very Good
Grade
Points per
Credit
4.00
3.50
75-79
65-74
60-64
55-59
B
C+
C
D+
Good
Above Average
Average
Below Average
3.00
2.50
2.00
1.50
50-54
Below 50
Main Book
D
F
Poor
Failure
1.00
0.00

Title: Economics
Author(s): Samuelson, P.A., Nordhaus, W.
Edition/Year: 19 th , 2010
Additional Reading and Other Learning Resources
Books
Title: The Principles of Economics
Author(s): Mankiw G.N.
Edition/Year: 4th / 2007
Web sites
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Market Media Homepage: www.marketmedia.com
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Media Map Website: www.mediamap.com
Journals
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Marketing Business
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Strategic Management
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Journal of Management
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Harvard Business Review
Periodicals
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Business Week
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The Economist
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The Marketer
LEARNING OUTCOMES TABLE
WEEK
1 st
Learning Outcomes and Content of the Course
The Fundamentals of Macroeconomics
Introduction in Macroeconomics. The constituents of the economy.
Key macroeconomic concepts and targets. Definitions of Aggregate
Supply and Demand. How is the value of economic activity measured? Gross Domestic Product (GDP). Rules for calculating
GDP. The GDP deflator. GDP and its components. The Consumer
Price Index. Circular macroeconomic flow.
Chapters 20-21
2 nd Consumption and Investment- Business Cycles and Aggregate
Demand
How consumption and saving are defined. The consumption function. Marginal propensities of consumption and saving.
Investment and Determinants of Investment. Business cycles.
Expansion and recession. Demand Induced Cycles. Foundations of aggregate demand. The aggregate demand curve. Chapters 22, 23
3 rd
4 th
Money, Commercial Banking and Monetary Policy
Money and Commercial Banking; Central Bank and Monetary
Policy, the Process of Creation of Bank Deposits; How Monetary
Policy Works to Control Spending; Supply and Demand for Money
Chapters 25 and 26
The process of economic growth and development
ACTIVITIES
Discussion,
Questions,
Applications and
Examples
Discussion,
Questions,
Applications and
Examples
Discussion,
Questions,
Applications and
Examples.
Discussion,

6 th
7 th
8 th
5th
9 th
10 th
11 th
The Theory of Economic Growth; the Trends and Sources of
Economic Growth; Economic growth models and the aggregate production function of an economy; the importance of technical change for growth and endogenous growth models; The Economics of Developing Countries; Theories of Economic Development.
Chapters 27 and 28
Inflation, Unemployment and Aggregate Supply
Unemployment: Importance of Unemployment; Measuring
Unemployment; Economic Interpretation of Unemployment. Social and Economic Impact of Unemployment. The foundations of aggregate supply. Aggregate Supply in the Short and Long Run.
Determinants of aggregate supply
Inflation; Definitions and Costs; Causes and Cures; What is
Inflation; the Impact of Inflation; Analysis of Inflation’s Costs;
Alternative Sources of Inflation; the Philips Curve; Open Issues;
Incomes Policy.
Chapters 29 & 30
Revision of Mid Term material
Mid-Term Examination
Exchange Rates and the International Financial System
Exchange Rates and the International Financial System; Mechanisms of Foreign Exchange and Trade; Three Major Exchange Rate
Systems; Macroeconomics of Open Economies; Breakdown and
Reconstruction of The International System.
Chapter 34
Questions,
Applications and
Examples
Discussion,
Questions,
Applications and
Examples
Discussion,
Questions,
Applications and
Examples
Comparative Advantage and Protectionism
International Trade and the Theory of Comparative Advantage; the
Gains from Trade and the Law of Comparative Advantage; the
Balance of International Payments. Protective Tariffs; Quotas and
Free Trade; Supply and Demand Analysis of Trade and Tariffs; the
Economics of Protectionism.
Chapter 35
Discussion,
Questions,
Applications and
Examples
The economic role of the government
Economic Role of Government: the Growth and Functions of
Government; Public Choice; Government Expenditures; Principles of
Taxation: the Theory Problem of Tax Incidence.
Chapter 33
Policies for Growth and Stability
The Fiscal-Monetary Mix and Government Deficits: Modern Public
Finance; the Fiscal Monetary Mix; Do Deficits Crowd of Investment;
Measuring and History of Government Debts.
Chapter 33
Discussion,
Questions,
Applications and
Examples
Discussion,
Questions,
Applications and
Examples

12 th
Different schools of economic thought
The Classical school. Keynesian approach. The Monetarists of
Friedman. New Classical Macroeconomics. Ultra Classicism-Supply side economics.
Chapter 32
Revision
Discussion,
Questions,
Applications and
Examples
13 th Submission of
Assignment,
Discussion,
Questions,
Applications and
Examples
OTHER INFORMATION:
Class attendance: Students are expected to attend the classes regularly and be punctual.
Humane matters: Inform your faculty member for any un-expectancies that may occur, thus not allowing you to carry out your responsibilities.
Library: You are advised to visit regularly the library of our College and read articles published in academic journals. I recommend you studying regularly among others, articles of your interest, published in international journals.
Web Site: You are advised to visit the College’s web site in order to find class notes, information on assignments or important notes and announcements.
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