INDEPENDENT UNIVERSITY, BANGLADESH

School of Business-Department of Economics

Course Outline

Semester Course Code Course Title Section

Summer ECN 200 Introduction to Economics 02
2020

INSTRUCTOR’S DETAILS:

Instructor: Nuren Nirvana Class Time: ST 9:30 a.m-11:00 a.m.

Brishti Class Room: 3009
Office: Office Hours: Thursday 3:00pm-4:00pm (Only by appointment).
Email: nirvanabrishti@gmail.com

COURSE DESCRIPTION:

This is an introductory course of Economics. The main purpose of the course is to disseminate the basic
understanding of Economics. This course will focus mainly on the prime two branches of Economics:
Microeconomics and Macroeconomics. Microeconomics deals with individual decision-making problem and
how it affects people. The core topics of microeconomics will be covered in this course, such as consumer
theory and behavior, and producer theory, competition and market structure. Macroeconomics studies the
behavior of the main aggregates of the economy. In this course an attempt will be made to provide an
analytical framework for the understanding of the economy at the national level. Main focus will be on
macroeconomic aggregates, the causes and costs of inflation and unemployment, understanding fiscal and
monetary policy.

PREREQUISITE (IF ANY):

There is no prerequisite for this course. Knowledge of linear algebra will be highly useful

COURSE POLICY:

1. It is the student’s responsibility to gather information about the assignments and covered topics
during the lectures missed. Regular class attendance is mandatory. Points will be taken off for
missing classes. Without 70% of attendance, sitting for final exam is NOT allowed. According to IUB

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 system students must enter the classroom within the first 20 minutes to get the attendance
submitted.
2. The date and syllabus of quiz, midterm and final exam is already given here, however,
announcements will be given ahead of time. There is NO provision for make-up quizzes.
3. The reading materials for each class will be given prior to that class so that student may have a
cursory look into the materials.
4. Class participation is vital for better understanding of sociological issues. Students are invited to
raise questions.
5. Students should take tutorials with the instructor during the office hours. Prior appointment is
required.
6. Students must maintain the IUB code of conduct and ethical guidelines offered by the School of
Business.
7. Students must refrain from any type of cheating and/or plagiarism in a course. Any student acting
otherwise will receive an “F” grade in the course. School of Business, IUB, maintains a zero tolerance
policy regarding violation of academic integrity.

8. Students are not allowed to keep bags, handouts, books, mobile phones, smart watches or any other
smart electronic devices with them during any exam. Students are advised to keep everything in the
front of the class room before the exam starts. Please note that, just carrying any smart electronic
devises (even if the devise is turned off or put it in silent mode) during the exam will be considered
as “cheating”. Moreover, during the exam, anything written on hand palms (or anywhere else) and
carrying paper materials (whatever is written) will be considered as “cheating”. Any sorts of
“cheating” will result in an “F” grade with no exception. During the exam, students are only allowed
to carry pen, pencil, eraser, sharpener, ruler, highlighter and calculator in a clear plastic bag.

ASSESSMENT AND MARKS DISTRIBUTION:

Type of Evaluation Nos. Weight

Class Attendance and Participation 100% 10%
Assignment/Homework/Oral 1 20%
Quiz (Best 3 will be counted) 4 30%
Midterm Exam 01 20%
Final Exam 01 20%
Total 100%

[Class attendance is mandatory; failure to do so may deduct the final marks]

GRADE CONVERSION SCHEME:

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 The following chart will be followed for grading. This has customized form the guideline provided by the
school of Business.

A A- B+ B B- C+ C C- D+ D F
90-100 85-89 80-84 75-79 70-74 65-69 60-64 55-59 50-54 45-49 0-44

* Numbers are inclusive

REQUIRED TEXT:

1. N. Gregory Mankiw, “Principles of Economics”, 6th edition

CLASS AND EXAM SCHEDULE, TOPIC AND READINGS:

Sessions Topic Learning Outcomes Readings

Session -1 Introduction What is Economics About? Origin of Introduction
Economics and it’s uses.

Session -2 Introduction 10 principles of Economics Mankiw,

Chapter 1

Page 1-12

Handout
available on
virtual
learning
system
Session -3 Thinking Like Economics as a science, the Role of Mankiw,
an Economist Assumptions, Economic Models, Circular Chapter 2
Flow Diagram and Production Possibility
Curve Page 21-35

Session -4 Market forces Basic concept of demand and supply: Mankiw,

of Demand and Demand and Supply Schedule, Law of Chapter 4
Supply Demand (& Supply), Determinants of
Demand and Supply
Page 65-80

Session -5 Market forces Movements and Shifts of Demand and

of Demand and Supply, Determination of Equilibrium,

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 Supply Change in equilibrium due to change in
demand and supply Page 80-89

- Solving problems regarding Handout

Supply and Demand available on
virtual
Quiz 1 learning
system

Session -6 Elasticity and What is elasticity, How to calculate Mankiw,

their elasticity (Percentage Change vs. Midpoint Chapter 5
application Method), Price elasticity of demand and
supply, Relationship between total
revenue and elasticity
Page 90-100

Handout
available on
virtual
learning
system
Session-7 Elasticity and Income elasticity and Cross elasticity, Mankiw,
their Some applications of elasticity Chapter 5
application
Relevant Problem Solving from Text
Page 100-110

Handout
available on
virtual
learning
system
Session -8 Supply, Price control: Price floor and Price Mankiw,
Demand and ceiling, Impact (tax incidence) of tax Chapter 6
Government imposition
Policies
Page 112-128

Handout
available on
Quiz 2 Quiz 2 virtual
learning
system
Session -9 Consumers, Consumer Surplus, Producer Surplus, Mankiw,
Producers and how to measure surplus Chapter 7
the Efficiency

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 of Markets

Page 135-142

Session -10 Consumers, Mathematical Problems relating to Mankiw,

Producers and Consumer and Producer Surplus, Chapter 7
the Efficiency Market Efficiency
of Markets
Page 142-150

Handout
available on
virtual
learning
system
Session -11 Midterm CHAPTERS 1,2,4,5,6 and & 7 CHAPTERS
Exam 1,2,4,5,6 and
&7
Session -12 Measuring the Circular Flow; GDP & GNP; Three Mankiw,
Nations approaches to Measure GDP Chapter 23
Income

Page 492-509

Handout
available on
virtual
learning
system
Session -13 Measuring the Real vs. Nominal GDP; GDP Deflator; Mankiw,
Nations GDP and Economic Well Being Chapter 23
Income
Page 491-501

Handout
available on
virtual
learning
system

Session -14 Measuring Cost How Consumer Price Index is Calculated, Mankiw
of Living Problems with CPI, GDP deflator vs CPI Chapter 24

Page 513-522

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 Handout
available on
virtual
learning
system

Session -15 Measuring Cost Correcting Economic Variables for Mankiw

of Living Inflation, Real vs Nominal Interest Chapter 24
Rates Page

Mathematical Problems related with

CPI Handout
available on
virtual
learning
system
Session -16 Savings, Financial Markets and Financial
Investment intermediaries, Stocks and bonds, Mankiw
and the Financial Crisis Chapter 26
Financial Page 555-558
System
Handout
available on
virtual
learning
system
Session -17 Savings, Relation between Savings and Investment, Mankiw
Investment Market for Loanable funds Chapter 26
and the Page 561-568
Financial
System Handout
available on
virtual
Quiz 3 learning
system
Session -18 Unemployment and how it is measured, Mankiw,
Unemployment Why are there some people always Chapter 28
unemployed, Rise of Long term Page 593-600
unemployment

Handout
available on
virtual
learning
system

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Session -19 Public Policy and Job Search, Mankiw,
Unemployment Unemployment Insurance and Benefits, Chapter 28
Minimum Wage Laws Page 604-612

Handout
available on
virtual
learning
system
Session -20 Theory of Efficiency Wages, Philips Manwkiw,
Unemployment Curve, Stagflation Chapter 28
Relevant Problem Solving from Text
Handout
available on
virtual
learning
system
Session -21 The Monetary Functions of Money, Kinds of Money, Mankiw,
System Money in the US Economy, Why Credit Chapter 29
Cards aren’t money Page 619-621

Handout
available on
virtual
learning
system
Session -22 The Monetary Mankiw,
System The Federal Reserve System, Open Chapter 29
Market Operation, Banks and Money Page 625-629
Supply
Handout
Relevant Problem Solving from Text available on
virtual
learning
system
Session -23 The Monetary The Fed’s tool of Monetary Control, Bank
System Runs and Money Supply, Federal Funds Mankiw
Rate Chapter 29
Page 632-635

Relevant Problem Solving from Text

Handout
available on
virtual
learning
system

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Session -24 Review and Students will solve any kind of problems
solving related with the syllabus.
problems
Session -25 Review and Students will solve any kind of problems
solving related with the syllabus.
problems
Session -26 Final Exam CHAPTERS 10,11,13,15 and 16 Mankiw,
Chapter
10,11,13,15
AND 16

AUDIT:
Students who are willing to audit the course are welcome during the first two classes and are advised to
contact the instructor after that.

NOTE:
Plagiarism- that is the presentation of another person’s thoughts or words as though they were the
students’ own – must be strictly avoided. Cheating and plagiarism on exam and assignment are
unacceptable.

UNIVERSITY REGULATION AND CODE OF CONDUCT:

Please see the green book for further information about academic regulation and policies, including
withdrawal and grading, apples and penalties for pilgrims and academic misconduct.

STUDENTS WITH DISABILITIES:

Students with disabilities are required to inform the School of Business/ Department of Economics of any
specific requirement for classes or examination as soon as possible.

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