Course Outline Economic Theory: Microeconomics
Semester: 1
Course:
Code:
Credit
(ECTS):
Instructors:
Classes:
Aims:
Course
Materials:
Assessment:
Teaching
Methods:
Economic theory: Microeconomics
ETM - 1
3
Valentina Gromyko, Dr. Sc. (Economics), full professor.
Lectures: 20 hours
Seminars: 32 hours
This course concentrates on what economics is about. It gives an
overview of the market economy and its mechanism. It teaches the principles of a
rational behaviour of producers and consumers. It explains the role of the
government in the market economy.
Students will :
 get acquainted with the major microeconomic issues;
 develop the ability to think in the economic way;
 understand the motives of consumer and producer behaviour;
 learn how to apply the basic economic rules and principles to the analysis
of specific cases in economic activity;
 be able to distinguish between the advantages and failures of the market
system.
Basic text:
1. J.Sloman. Economics, Prentice Hall, sixth edition, 2006,
J.Sloman, A.Wride. Economics, Prentice Hall, seventh edition, 2009.
2. 2. J.Sloman, P.Smith. Economics. Student workbook. Sixth edition, Prentice Hall,
2006.
Maximum mark – 100, including:
- attendance - 20;
- current work - 20;
- creative work – 20;
- written examination – 40.
Russian equivalent: 85 – 100 - “excellent”
70 – 84
- “good”
50 – 69
- “satisfactory”
< 50
- “failed”
Lectures, seminars, presentations, home tasks, debates
Course schedule
№№
1
2
3
4
5
6
7
8
9
10
Topics
Subject and method of economics;
Introduction to microeconomics
Key economic problem: scarcity
and choice
Pure market model
Market
mechanism:
demand,
supply, prices
Marginal utility theory and
consumer’s equilibrium
First module test (9 th week)
The theory of the firm and the
equilibrium of producer
Profit maximization under various
market structures
Income distribution and behaviour
of a firm in inputs markets
Market advantages, market failures
and the economic role of
government
Economic role of government
Second module test (17 th week)
Written examination (January)
TOTAL
Lectures Seminars Self
work
2
2
2
Total
2
4
2
8
2
2
2
4
2
2
6
8
2
4
2
8
2
4
2
8
2
2
2
6
2
4
2
8
2
2
2
6
2
4
2
8
20
36
108
20
32
6
Course Outline Economic Theory: Macroeconomics
Semester: 2
Course:
Code:
Credit
(ECTS):
Instructors:
Classes:
Aims:
Course
Materials:
Assessment:
Teaching
Methods:
Economic theory: Macroeconomics
ETM - 2
5
Marina Savinova, associated professor of economics, Ph.D; Rakouta N.V.,
assistant
Lectures: 22 hours
Seminars: 34 hours
This course provides understanding of the nature of macroeconomics, its
historical development, the main macroeconomic problems and their possible
causes, comparative analysis of the Keynesian – monetarist – new classical ideas
and debates over fiscal, monetary and supply-side policies.
The student will:
- be able to distinguish between micro- and macroeconomic equilibrium;
- become acquainted with the major macroeconomic issues;
- receive a basic knowledge of the main macroeconomic ideas and theoretical
debates;
- identify various schools of the macroeconomic thought as a basis for political
divisions;
- be able to examine macroeconomic policies and government promises.
Basic text:
J.Sloman. Economics, Prentice Hall, sixth edition, 2006, J.Sloman, A.Wride.
Economics, Prentice Hall, seventh edition, 2009
J.Sloman, P.Smith Economics. Student workbook. Sixth edition, Prentice Hall,
2006
Economics for marketing (Macroeconomics). Study guide (prepared by
Savinova M.V.) – REU, 2012 / IBS Plekhanov, 2013 //
http://www.rea.ru/Main.aspx?page=year_1_
Additional text:
1. C.R.McConnell, S.L.Brue, S. Flynn. Macroeconomics: Principles,
Problems, and Policies. – 18th edition. - McGraw-Hall University, 2009
N.G.Mankiw. Macroeconomics. - 7th edition. – Worth Publishers, 2009
Maximum mark – 100, including:
- attendance - 20;
- current work - 20;
- creative work – 20;
- written examination – 40.
Russian equivalent: 85 – 100 - “excellent”
70 – 84
- “good”
50 – 69
- “satisfactory”
< 50
- “failed”
Lectures, seminars, presentations, home tasks, debates
Course schedule
№№
1
2
3
4
5
6
Topics
Introduction to macroeconomics.
Basic macroeconomic equilibrium
models: aggregate
demand/aggregate supply analysis
and the circular flow of income.
Macroeconomic issues: economic
growth and business cycles,
unemployment, inflation, balance of
payments and exchange rates.
Macroeconomic ideas. The main
points of the Keynesian theory.
Mid-term test (9 th week)
Money and financial system.
Money market: supply, demand and
equilibrium.
Fiscal and monetary policy:
comparative effectiveness.
Demand-side policies versus
supply-side policies.
Introduction to the International
Economics: international trade and
alternative exchange rate regimes.
Globalization and the problem of
instability.
Final test (17 th week)
Written examination (June)
TOTAL
Lectures Seminars Self
work
4
6
12
Total
6
4
6
16
12
4
4
14
8
4
6
16
14
4
6
16
8
2
6
14
10
22
34
88
36
180