Course Name PRINCIPLES OF ECONOMICS

Course Description Introduction to economic theory and applications.

Number of Units for
Lecture and 3 units lecture
Laboratory
Number of Contact
Hours per Week 3 hours lecture
Prerequisite None
Program Outcome h. broad education necessary to understand the impact of
industrial engineering solutions in a global, economic,
environmental, and societal context
Course Outcomes After completing this course, the student must be able to: 1.
Understand the nature of the economic problem; and
2. Understand the basic concepts, theories and principles of
economics
Course Outline 1. Introduction to Economics and Economic Systems
2. Supply and Demand
3. Elasticity
4. Consumers, Producers, and Market Efficiency
5. Costs of Taxation
6. International Trade
7. Externalities
8. Public Goods and Common Resources
9. Costs of Production
10. Firm Behavior and Industry Organization
10.1. Competitive Markets
10.2. Monopoly
10.3. Oligopoly
10.4. Monopolistic Competition
14. National Income
15. Price Indices
16. Growth
17. Saving, Investment, and the Financial System
18. The Labor Market and Unemployment
19. Money, Money Growth and Inflation
20. Aggregate Demand and Aggregate Supply
21. Monetary Policy and Fiscal Policy