COURSE NAME : PRINCIPLES OF ECONOMICS (Prinsip Ekonomi) COURSE CODE : ECN3100 CREDIT : 3(3+0) TOTAL STUDENT LEARNING HOURS : 120 hours per semester PREREQUISITE : None LECTURER : LEARNING OUTCOME SYNOPSIS SURYATI ISHAK A328 suryati@econ.upm.edu.my : Students are able: 1. to discuss basic economic consepts. (C2, P2, A1, CS) 2. to apply suitable economic methods in solving economic problems. (A2, C3, P3, CT) 3. to present reports regarding economic issues in a team. (C3, CS, TS) :This course covers the basic economic concepts, role of government in national economies, national income, and the concepts of factors of production as well as international trade and finance (Kursus ini meliputi pengenalan kepada konsep asas ekonomi, peranan kerajaan dalam ekonomi, pendapatan negara, konsepkonsep mengenai faktor-faktor pengeluaran serta perdagangan dan kewangan antarabangsa.) LECTURE CONTENT TOPIC 1. 2. 3. 4. 5. Chapter Introduction Definition of Economy Basic Economic concepts Economic Model Positive and Normative Analysis 1&2 Elasticity and the Theory of Demand and Supply The theory of Demand The theory of Supply Market Equilibrium Elasticity of Demand Elasticity of Supply 4&5 The Theory of Consumer Choice Utility and Dimishing Marginal Uitility Budget Line Indifference Curve Optimal Choice-Consumers Equilibrium The Theory of Cost and Production Cost and Production function Cost and Production in the short run Cost and Production in the long run Cost and Production curves Economies and diseconomies of scale Market Structure Perfect Competetion Monopoly Monopolistic Oligopoly 21 13 14 & 15 MID TERM: TOPIC 1,2,3,4 AND 5 TOTAL :30% 6. National Income National Income measurement National Income determinant 23 7. Inflation and Unemployment Cost of Living measurement Consumer Price Index (CPI) Inflation Unemployment Frictional Unemployment Structural unemployment 24 & 28 8. Money and banking Systems The role of Central Bank Function of Money Money demand and credit creation Money multiplier Monetary Policy 9. Trade and Open Economy Trade and Specialization Absolute Advantage and Comparative Advantage FINAL EXAM: TOPIC 6,7,8, AND 9 Total: 40% ASSESMENT TEXT: : Coursework: 60% MID TERM: ASSIGNMENT: FINAL EXAMINATION 30% 30% 40% 29 3 Mankiw, G.N. (2009) Principle of Economics. Sixth Edition. Orlando: Thomson South-Western. REFERENCES : 1. McEachern, W.A. (2009) Economics A Contemporary Eighth Edition. New York: South-Western Introduction. 2. Parkin, M. (2008) Economics. Eighth Edition. New York: Upper Saddle River: Addison Wesley Longman. 3. Case, Karl E.and Fair, Ray C. (2004) Principles of Economics. Seventh Edition. London: Pearson Prentice Hall. 4. O’Sullivan, A and S.M. Sheffrin. (2008) Survey of Economics: Principles and Tools. (Third Edition) New Jersey: Prentice-Hall.