AB0901
Principles of Economics: A Singapore Perspective
Course Description and Scope
The main aim of this course is to provide a basic understanding of Economics. The first 7 weeks of
the course will cover microeconomics topics such as the theory of households making consumption,
the theory of firms making input choices and output decisions and different types of market
structures that these firms operate in. The last 6 weeks of the course will cover macroeconomics
topics such as inflation, unemployment, balance of payments. Fiscal, monetary and exchange rate
policy will also be examined. Macroeconomic issues will be presented from the perspective of
Singapore’s experience as a small open economy. The last lecture covers Singapore’s use of the CPF
as a social security net as well as a macroeconomic instrument.
Course Assessment
Quizzes
Class participation
Final Examination
:
:
:
20 %
10%
70 %
_____
100%
_____
Textbook
Michael Parkin, Economics, 10th Edition, University of Western Ontario
Publisher: Addison-Wesley
Copyright: 2010
Proposed Lecture Schedule
Lecture
Lecture 1
Topics
MICROECONOMICS
Lecture 1: Introduction
Lecture 2
Tutorial 1
Lecture 2: Efficiency and Equity and Markets in
Action
Lecture 3
Tutorial 2
Lecture 4
Tutorial 3
Lecture 5
Tutorial 4
Lecture 6
Tutorial 5
Sept 19-23
Lecture 3: Households’ Choices
Lecture 7
Lecture 7: Market Failure and Government
Lecture 4 Firms and Markets
Lecture 5: Perfect Competition and Monopoly
Lecture 6: Monopolistic Competition and Oligopoly
Recess
1
Lecture
Tutorial 6
Topics
MACROECONOMICS
Lecture 8
Tutorial 7
Lecture 9
Tutorial 8
Lecture 10
Tutorial 9
Lecture 11
Tutorial 10
Lecture 12
Tutorial 11
Tutorial 12
Lecture 8: Macroeconomic Overview
Lecture 9: Determination of Real GDP
Lecture 10: Money, the Price Level and Inflation
Lecture 11: Aggregate Supply and Aggregate Demand
Lecture 12: The Exchange Rate and the Balance of
Payments
Lecture 13
Singapore’s Social Security System: The CPF Scheme
Tutorial 12
2