Lahore University of Management Sciences

Econ 100 Principles of Economics

Fall 2014-2015

Instructor Bilal Khan

Room No.
Office Hours
Email bilalkhan.lums@gmail.com
Telephone
Secretary/TA
TA Office Hours
Course URL (if any)

Course Basics
Credit Hours 4
Lecture(s) Nbr of Lec(s) Per Week 2 Duration 110 minutes
Recitation/Lab (per week) Nbr of Lec(s) Per Week Duration
Tutorial (per week) Nbr of Lec(s) Per Week Duration 110 minutes

Course Distribution
Core
Elective Elective
Open for Student Category Freshman, Sophomore
Close for Student Category Junior, Senior

COURSE DESCRIPTION
My envy goes out to the student, setting out to explore the exciting world of economics for the first time. This is a thrill which, alas, you can
experience only once in your life. To you who are about to begin, may I only say bon voyage! Paul Samuelson

Economic forces and ideas govern our lives and shape our world. Knowledge of principles of economics is indispensable for understanding many
social phenomena and policy issues. This course introduces students to the fundamental ideas in economics and the tools that economists use to
analyze problems. We will apply these ideas to a wide range of real world problems to gain useful, interesting and, at times, surprising insights.
Along the way, we will also look briefly at the historical context in which specific economic ideas emerged in order to gain a deeper and critical
understanding of these ideas.

COURSE PREREQUISITE(S)

None

COURSE OBJECTIVES

Introduce the basic tools, methods and language of economics to the students.
Apply economics ideas to a wide range of real world problems.
Develop a critical understanding of economic ideas.
 Lahore University of Management Sciences
Grading Breakup and Policy

Quiz(s): 30%
Midterm Examination: 30 %
Final Examination: 40%

Examination Detail

Yes/No: Yes
Combine Separate: Separate
Midterm
Duration: 100 minutes
Exam
Preferred Date:
Exam Specifications:

Yes/No: Yes
Combine Separate: Separate
Final Exam
Duration: 100 minutes
Exam Specifications:

Week Topics

1, 2 Introduction
How Markets Work
Markets and Welfare
3, 4
The Economics of the Public Sector
Firm Behavior and the Organization of Industry
5, 6
The Economics of Labor Markets
Topics for Further Study
Midterm
7, 8
The Data of Macroeconomics

The Real Economy in the Long Run

9, 10
Money and Prices in the Long Run
11, 12 The Macroeconomics of Open Economies

Short Run Economic Fluctuations

13, 14 Final Thoughts
Final Exam

Textbook(s)/Supplementary Readings

Required text: N. Gregory Mankiw (2004). Principles of Economics. The Dryden Press.

Additional readings may be assigned and will be uploaded online.