Download Introduction to economics – lesson schedule

Introduction to economics – lesson schedule
Lesson 1: Introduction
Duration: 4 hours
Students will be acquainted with the teaching methods, complete material for lessons will be
delivered and the information about the final examination will be presented.
The content of the first lecture will be focused on:
 What economic is about (economic problem, scope of economics, positive and
normative economics, microeconomics, macroeconomics)
 Methods of allocating resources (functions of an economic system, market economy,
command economy, mixed economy)
Lesson 2: What to produce and how to produce – microeconomic theory of demand,
production and costs
Duration: 5 hours
The content of the second lecture will be focused on:
 What determines the individual and market demand (consumer preferences, utility of
consumption)
 The microeconomics demand curve (why the microeconomics demand curve normally
slopes down, elasticity of demand)
 Applications of demand analysis (within this topic also some exceptional
microeconomics demand curves will be presented)
 Applications of demand analysis (within this topic also some exceptional
microeconomics demand curves will be presented)
 Theory of production
 Theory of costs
 The microeconomic supply curve (why the microeconomics supply curve normally
slopes upward)
 Applications of supply analysis (within this topic also some exceptional
microeconomics
Lesson 3: Markets for goods and services, labor market, money, financial institutions and
financial markets
Duration: 5 hours
The content of the third lecture will be focused on:
 Labor market (determination of wages and workforce)
 Money (demand for money, supply of money, interest rates)
 Financial markets (money market and capital market)
 Markets for goods an services (perfect competition, imperfect competition, market
clearing))
Lesson 4: Level of output and aggregate demand
Duration 5 hours
 The content of the fourth lecture will be focused on:
 Measuring the level of economic activity (national income calculations)
 Aggregate demand and aggregate supply
 Employment, price level and inflation
Lesson 5: Economic growth
Duration 5 hours
The content of the fifth lecture will be focused on:
 Nature of economic growth
 Factors leading to growth
 Government and growth
Lecture material and literature
The content of the course is subordinate to Jack, Harvey. 1998. Modern Economics. New
York: Palgrave. Additional materials in form of PPP presentations, handouts, journal articles
and analytical exercises will be prepared and delivered within the introduction course.