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ELECTIVE COURSES OFFERED BY OTHER FACULTIES (KELF)

INTRODUCTORY ECONOMICS

GIE1001 INTRODUCTORY ECONOMICS
3 Credits

Pre-requisite None

Learning At the end of the course, students are able to:
Outcomes
1. explain basic economic concepts and principles;
2. relate economic discipline to real life problems; and
3. examine how economic systems function.

Synopsis The course introduces the fundamental theories of microeconomics and
macroeconomics, specially designed for students who have no basic in
economics. This course will first focus on the introduction of various relevant
theories. It will then be followed by the application of the theories to decision
making process, either at the levels of individuals, firms, industries or economies.

Among the microeconomics topics to be discussed are production possibilities
frontier, demand, supply, market equilibrium, elasticity of demand and supply,
consumer choice theory, production and cost, perfect competition, monopoly
monopolistic competition and oligopoly. Topics included in the macroeconomics
are discussion on gross domestic product, standard of living, consumer price
index, cost of living, unemployment, economic growth, monetary system,
aggregate demand and supply, business cycle, fiscal policy and monetary policy.

References 1. Bade R. and Parkin M., (2012). Foundations of Economics. New York: Addison
Wesley.
2. McEachern, W. A., (2009). Economics Principles. Boulevard: Cengage Learning
3. Mankiw, G., (2007). Principles of Economics, Thomson, International Edition.

Soft Skills CS1, CS2, CS3
CT1, CT2, CT3

Assessment Continuous Assessment : 40%
Final Examination : 60%

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