EKO 201E - Economics

Course Objectives

1-) To provide basic microeconomic concepts such as tradeoff, opportunity cost and gains from trade.
2-) To understand how market forces of demand and supply determine the equilibrium price and quantity.
3-) To understand the rationale for government intervention.
4-) To understand key macroeconomic concepts such as national income, growth, inflation, and unemployment.

Course Description

This course examines the basic concepts in economics. The first part covers microeconomics. In this part, we will study of how firms decide on production and households decide on consumption of goods and services. The second part covers macroeconomics. In this part, we will study the economy as a whole. Topics include national income, unemployment, inflation, and economic growth.