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    Economics Open Course

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    Sooraj Ganapathy
    This document provides an overview of the modules in an open course on basic principles of economics for non-economic students. The course covers fundamental microeconomic concepts like supply and demand, elasticity, and consumer behavior. It also examines macroeconomic measurement of GDP and national income, as well as macroeconomic issues like inflation, unemployment, and fiscal and monetary policies used to address economic imbalances. The course utilizes standard economics textbooks to teach these essential economic theories and analyses.

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    Economics Open Course

    Uploaded by

    Sooraj Ganapathy
    23 views1 page
    This document provides an overview of the modules in an open course on basic principles of economics for non-economic students. The course covers fundamental microeconomic concepts like supply and demand, elasticity, and consumer behavior. It also examines macroeconomic measurement of GDP and national income, as well as macroeconomic issues like inflation, unemployment, and fiscal and monetary policies used to address economic imbalances. The course utilizes standard economics textbooks to teach these essential economic theories and analyses.

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    This document provides an overview of the modules in an open course on basic principles of economics for non-economic students. The course covers fundamental microeconomic concepts like supply and demand, elasticity, and consumer behavior. It also examines macroeconomic measurement of GDP and national income, as well as macroeconomic issues like inflation, unemployment, and fiscal and monetary policies used to address economic imbalances. The course utilizes standard economics textbooks to teach these essential economic theories and analyses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    23 views1 page

    Economics Open Course

    Uploaded by

    Sooraj Ganapathy
    This document provides an overview of the modules in an open course on basic principles of economics for non-economic students. The course covers fundamental microeconomic concepts like supply and demand, elasticity, and consumer behavior. It also examines macroeconomic measurement of GDP and national income, as well as macroeconomic issues like inflation, unemployment, and fiscal and monetary policies used to address economic imbalances. The course utilizes standard economics textbooks to teach these essential economic theories and analyses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    Open Course for Non-Economic Students

    I Basic principles of Economics


    Module 1: Economic Issues, Concepts and the Methods of Economics Issues and concepts Why study economics? Meaning of microeconomics and nature of modern economy. Resource scarcity, choice, opportunity cost and the production-possibility curves, Central Problems of an economy. Module 2: Demand, Supply, Price Determination, Elasticities, and Consumer Behavior Demand nature, demand function, demand schedule, demand curve, shifts in demand curve, Supply supply function, supply curve, shifts in supply curve, market equilibrium. Price determination and imbalances. Elasticity of demand price elasticity (meaning and measurement). Elasticity of supply meaning and measurement. Consumer behavior utility, marginal and total utility, diminishing marginal utility, and utility maximizing rule. Module 3: Theory of Production, Costs and Market Structures Production and costs production and production function, costs and profits, profitmaximizing output, law of diminishing returns, short-run cost curves and their relationships, profit maximization, and cost minimization. Market structure Features of perfect competition and monopoly oligopoly monopolistic competition. Module 4: Macro economics and the Measurement of National Income: Macroeconomics meaning and major macroeconomic issues. Gross Domestic Product (GDP) meaning and types, and income and expenditure measures of GDP, and interpretation of measures. Circular flow of income and expenditure. Module 5: Income Determination, Inflation, Unemployment, and Fiscal and Monetary Policies Classical theory postulates, Says law, and classical theory, consumption function, saving function, GDP, changes in GDP, income or investment multiplier. Inflation meaning, measures, types, effects and theories. Fiscal and monetary policies: meaning, instruments, and effects on distribution, growth, stability and production. Financial crisis. Reference
    5. Anintya Sen - Micro Economics Oxford

    6. Saumyan Sikdar Principals of Macro Economics. - Oxford

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