Faculty of Economics and Business Zagreb
Professor Jasminka Šohinger, Ph.D.
Assistant Tomislav Herceg, Ph.D.
October, 2015
PRINCIPLES OF ECONOMICS
Syllabus
COURSE DESCRIPTION: This is an introductory course designed for you, first year
students of Economics. It is intended to give you an overview of the most important areas in
the study of Economics. The aim of this course is to capture and develop your economic
intuition and understanding of tendencies and events in global markets. The areas studied will
comprise fundamentals of both micro and macroeconomics, short-run fluctuations and longterm growth, monetary and fiscal policy, and international economy. An essential part of the
course will be your active participation in analyzing current economic events and
developments and in discussing those in class.
REQUIRED TEXTBOOK:
Samuelson Paul, A. – William D. Nordhaus (2010) Economics, 19th Edition, New York:
McGraw-Hill.
ALSO RECOMMENDED:
Hubbard, Glenn R. – Anthony Patrick O'Brien (2010), Economics, 3rd Edition, Boston:
Pearson.
Bade, Robin - Michael Parkin (2011), Foundations of Economics, 5th Edition, Boston:
Addison-Wesley.
Mankiw, Gregory N. - Mark P. Taylor (2014), Economics, 3rd Edition, South-Western
CENGAGE Learning.
And any other textbook on Foundations of Economics from a respectable publisher.
EXAMS AND GRADING:
There will be two midterms and a final exam. To complete the course successfully, you will
have to pass all midterms and the final exam. The midterms and the final will determine 90%
of the grade (30% each) and 10% will be determined by activity and presentation in class.
Continuous work throughout the semester is highly encouraged and it will not let you down.
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ACADEMIC ETHICS: You are expected to uphold the principle of academic honesty.
LECTURES WILL BE ORGANIZED AROUND THE FOLLOWING TOPICS:
October 15:
Introduction. Elasticities. Consumer.
(Chs. 1-5)
October 22:
Producer. Costs. Supply.
(Chs. 6, 7)
October 29:
Market structures.
(Chs. 8, 9, 10)
November 05: Midterm I: Microeconomics
November 12: Key concepts in Macroeconomics.
Measuring economic activity.
(Chs. 19, 20)
November 19: Business cycles and aggregate demand.
(Chs. 21, 22)
November 26: Money, banking, and financial markets.
(Chs. 23)
December 03: Goals and limitations of fiscal and monetary policies.
(Chs. 19, 24)
December 10: Midterm II: Macroeconomics
December 17: Interdependence in the global economy:
Economic growth and development.
January 07:
January 14:
Macroeconomics in an open economy and
international trade.
Exchange rates and the international
financial system.
January 21:
Topics in international economics.
January 28:
Final: International
(Chs 25, 26)
(Ch. 28, 31)
(Ch. 27)
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