Download 3 - Economics

ECONOMICS
(SYLLABUS)
University of Petrosani
Faculty: The Faculty of Mechanical and Electrical Engineering
Program Level: Undergraduate
Specialization(s): Computer Science; Control Engineering and Applied Informatics
Year of study: 3rd
Semester: I (autumn semester)
Number of ETCS credits awarded: 4
Class Objectives:
 Familiarizing students with the theoretical approaches and practical tools in the field of
economy, as modern science, aimed at connecting businesses to market developments
 Defining the specific concepts and principles of the economic theory
 Solving problems in well-defined contexts assigned to activities carried out at the micro and
macro-economic levels
 Definition of the concepts of supply and demand of goods and services and of consumers’
behaviour
 Skills of analysis and economic calculation in the evaluation of an economic activity
 Performance evaluation at micro and macro-economic level.
Lectures content:
Content
ECONOMY AND THE ECONOMIC SCIENCES. Human
needs and economic resources. Modern contemporary
economies – mixed economies. Operators – concept,
typology, characteristics.
DEMAND AND SUPPLY. The concept of demand. The
law of demand. Conditions of demand. Elasticity of demand.
The concept of supply. The law of supply. Conditions of the
supply. Elasticity of the supply.
THE FACTORS OF PRODUCTION. EFFICIENCY OF
PRODUCTION FACTORS. Contemporary system of
production factors. General characterization of traditional
production factors. Labour productivity. Return on capital.
PRODUCTION COST THEORY. Cost – concept, contents,
role, functions. Cost typology. The problem of minimizing
cost
MARKET, COMPETITION AND PRICE. Market –
contents, role, and typology. Competition – concept,
functions, tools, types. Price.
BASIC INCOME. Salary. Profit. Interest. Revenue.
STATE
MACROECONOMIC
POLICIES.
MACROECONOMIC ANALYSIS. Current macroeconomic
issues. Budgetary policy, fiscal policy, monetary policy.
Macroeconomic indicators. Methods of calculation and
macroeconomic assessment.
ECONOMIC
GROWTH
AND
DEVELOPMENT.
ECONOMIC FLUCTUATIONS. Concept, typology and
factors of economic growth. Economic equilibrium and
imbalance. Economic cycles. Countercyclical economic
policies
LABOUR
MARKET.
EMPLOYMENT
AND
UNEMPLOYMENT. Labour market – definition,
characteristics, labour demand and supply, the system of
Number of lectures
1
1
1
1
2
2
2
1
2
labour market indicators. Unemployment – definition,
typology, policies to prevent and combat unemployment.
INFLATION. Inflation - concept; causes; forms.
Measurement of inflation. Consequences of inflation. Antiinflation policies
1
Practical class content:
Content
DEMAND AND SUPPLY. The relative nature of the law of
demand. Explaining the importance of knowing the
elasticity of the demand for the manufacturer/seller. Use in
applications of the main relationship between the volume of
supply and the conditions of demand.
PRODUCTION
FACTORS.
EFFICIENCY
OF
PRODUCTION FACTORS. Applications using the
concepts of wear and depreciation of fixed capital.
Applications using the concepts of labour productivity,
productivity and the capital coefficient.
THEORY OF PRODUCTION COST. Understanding the
importance of minimizing costs for the manufacturer.
Applications using the calculation of fixed and variable
costs (total and average) and the marginal cost.
BASIC INCOME. Applications using the concepts of
nominal salary, wage, price index, the real purchasing power
of money, price indexing. The importance of maximizing
profits for the operators. Applications aimed at
understanding the concepts of simple and compound
interest. Understanding the mechanism of rent formation.
STATE
MACROECONOMICE
POLICIES.
MACROECONOMIC ANALYSIS. Applications using the
concepts of GDP, GNP, NNP, VN, GDP deflator.
LABOUR
MARKET.
EMPLOYMENT
AND
UNEMPLOYMENT. Highlighting the relationship in size of
different components of the total population. Using the
notions of unemployment rate, occupancy, voluntary and
involuntary unemployment. Review: The effectiveness of
the measures of active and passive policy at regional level
INFLATION. Applications aimed at understanding the
methods of calculating and highlighting inflation.
Characterization of the inflation phenomenon that arises in
Romania
Number of classes
1
1
1
1
1
1
2
Grading Policy:
The student pass the class if obtain more than 50 points from 100 points.
Classroom Rules of Conduct:
 Turn off (or place on vibrate) cell phones and pagers during class
 Food and beverages are not permitted in classroom
 During exams, the use of cell phones, pagers, PDAs, or any other electronic devices is strictly
prohibited
Lecturer: Dorina NITA
e-mail: [email protected]