SUKKURI

BAUNI TYSUKKUR
VERSI

Depar
tmentofmat
hemat
ics

I
ntr
oduct
ionEconomi
cs

Pr
ogr
ams&Cl
ass:BS-
1(Mat
hs) Semest
er:Spr
ing-2021
Cr
edi
tHour
s: 3 I
nst
ruct
or:Ashf
aqueAl
iGi
l
al
Pre-
requi
sit
eCour ses:F.Sc:
Pre
Engi
neeri
ng/foundati
on/THP/Cr
ash Post
-r
equi
sit
eCour
ses:

Co-
requi
sit
eCour
ses: e-
mail:ashf
aque.
ali
@iba-
suk.
edu.pk
Counseli
ngHours:3:
30pm t
o5:00pm
Of
fi
ceHour
s:(
9:00am t
o5:
00pm)
Monday&Fr i
day
Venue:Room #1.Academi
cBl
ock-
I
EVALUATI ON
1. IndividualandGroupPr
esent
ati
on/
CP 5/3%
2. Assi gnment s 6%
3. Qui zzes 6%
4. FirstTerm 20%
5. SecondTer m 20%
6. Final Examinati
on 40%

RECOMMENDEDBOOKS:
S.
N Publ
isherName&Edi
ti
on
BookName Aut
hor
/sName
o
Economics;Pr
inci
ples, CampbellR.McConnel
l
, 18t
hEdit
ion.
1. Probl
emsandPol ici
es St anl
eyL.Brue TheMcGraw-Hi
l
l
AndrewAbel and
Macroeconomics Bernanke 6thedi
ti
onPear
son’
s
2. theor
yandPoli
cy

REFERENCEBOOKS:

Pri
ncipl
esof
1. 8t
hEdi
ti
on
Economics Kar
lE.Case,
RayC.Fai
r

Modern
2 Lat
estedi
ti
on
mi
croeconomi
cs A-Kaut
syani

Mathemat
icsf
or Mi
keRosser
3 2nd edi
ti
on
Economi
sts Page1of1
COURSEDESCRI
PTI
ON:
Int
roductiont oEconomicsf ocusesoni ndivi
dualeconomi cuni t
s-consumersandbusi ness
organizati
onsaswel lasNat i
onalandi nt
ernati
onaleconomy .Itexamineshow pur chase
decisi
onsbyconsumer sandpr oducti
ondeci sionsbypr oducer sdeterminepr i
cesand
quantiti
essol d.Simil
arl
y,itshowshow deci sionsbyempl oyersandwor kersint
eractto
determinewagesandempl oyment .
Thesepr incipl
esareappliedtoav ari
etyofeconomi cissuesandpr obl
ems,i ncl
udi
ngpr i
ce
and rentcont r
ols,exchange r ates and internati
onaltrade,ener gy pr
icing,coll
ecti
ve
bargaini
ng, andenvir
onment ali
ssues.

Cour
seLear
ningOut
comes(
CLOs)
:
I
. Studentswillbeabletol
earnhowt opresentbasiceconomicconcepts.
II
. Studentswillbeabl etounderstandhow t ocollectandanalyzeeconomicdat
aat
basiclevel
.
I
II
. Studentwillbeabletounder
standbasi cmi croeconomicconcepts.
I
V. Studentswillbeabletoappl
ymi croeconomi csconceptstothebasicprobl
ems.

AssessmentTaskDescri
pti
on:
a)Assignment
:
Assi
gnment
s wil
lbe assessed on t
he basi
s ofdeadl
i
ne ofsubmi
ssi
on,f
ocus
(pur
pose).

b)Present
ati
ons:
I
twi llbe assessed on t
he basi
s ofappear
ance,ef
fect
ive communi
cat
ion and
mat
erial
.

c)Cl
assPart
ici
pati
on:
CPwil
lbeassessedont
hebasi
sofadv
ancedr
eadi
ngsandcont
ri
but
ioni
nthecl
ass.

I
MPORTANTPOLI CIES(subjecttothecoursei nst
ructor
)
 Regulari
tyandpunct uali
ty–Ifyouarelatebyfi
v eminut
esy ou
willbemarkedasabsent.
 Assignments–assi gnment sshouldbesubmittedontime,0.5
mar ksperdaywouldbededuct edondel ay.
 ClassParti
cipati
on–Onecannotl earnunti
landunless
partici
pat
e.I
dlespectat
orsar enothel
di nesteem ofanylearni
ngprocess.Makey our
presencefel
t.

Page2of2
 Mobil
ephone-Noanyst
udenti
sal
l
owedt
okeepmobi
l
ephone
swi
tchedondur
ingsessi
on.
 Textbookandcalcul
ator–I
twil
lbemandat
oryf
oral
lst
udent
sto
br
ingt
her
ecommendedt
extbookandcal
culat
orinev
erysessi
on.

SESSI
ON/WEEKWI
SEDETAI
LS:

Assignments
Dat
e
/
Sessi
o / Suggested
Topi
cs Qui zzes/
nNo. Wee Readi
ngs
Digit
al
k
Librarywork
Intr
oduct i
on t o economi cs, i ts
diverse f i
elds, and di fference McConnel
01-
02 01
between Micro and andBr
ue
Macr oeconomi cs
Nat ureandscopeofEconomi cs
anddi f
ferencebet weenposi ti
v e,
McConnel
03-
04 01 normat i
v eandappl i
edeconomi cs
andBr
ue
Oppor t
uni t
ycostanddeci si
on
maki ngont hebasi sofMCandMB
Demandandsuppl y(i ndivi
dualand
mar ket)t heirdet erminants
McConnel
05-
06 02 Est ablishment of mar ket
andBr
ue
equi l
i
br ium. Calculat
ion of
equi l
i
br ium priceandquant ity
Elasticityofdemandandi tst ypes
andcal culati
ons McConnel
07-
08 02
Relationshi pbet weenel asticityand andBr
ue
totalrev enueoff i
rm
McConnel
Elasti
cit
yofsuppl yit
st y
pesand
andBr
ue
calcul
ation. Assi
gnment+
09-
10 03
Determinant sofsupplyand Quiz
demandel asti
ci
ty
Theor yofconsumer
Consumer equi l
ibri
um under
cardinalandordi
nalapproaches
Group
Income ef fect and subst i
t ut
ion
assi
gnment McConnel
11-
12 03 effects
andits andBrue
Der i
vati
onofDemandcur ve
pr
esentat
ion
Nor mal,Inf
eri
orandGi ffenGoods
case

Page3of3
13-
16 04 Fi
rstMi
dTer
m Exami
nat
ion

THEORYOFCOST
FI
XEDANDVARIABLECOST
17-
20 MARGINALCOSTANDT OTALCOST McConnel
05 AVERAGEFI
XED, andBrue
AVERAGEVARI
ABLE
ANDAVERAGETOTALCOST

McConnel
andBrue/
GRAPHI
CALANDMATHEMATI
CAL Basi
c
Assi
gnment+
21-
24 06 DETERMI
NATI
ONOFABOVEVARI
OUS mathemati
cs
Quiz
CONCEPTSOFCOST f
oreconomist
byMike
Rosser
TheoryofPr oduct
ion
Shortrunandl ongrunproduct
ion
funct
ions McConnel
25-
28 07
Lawsofr et
ur ntoscal
e andBrue
Lawofdi minishi
ngmar gi
nal
product

Aver
ageandmarginalpr
oductof
McConnel
29-
32 08 l
aborMathemati
calandGraphi
cal
andBrue
demonst
rati
on

Equili
bri
um ofproducer(fi
rm)wi
th
helpofIso-costandIsoquant Mi cr
o
curves Assi
gnment+ economicsby
33-
36 09
Profitmaxi
mi zi
nglevelofout
put Quiz A–
(Graphicalandmat hemati
cal Koutsoyi
anni
s
represent
ation)
37-
40 10 SecondMi
dTer
m Exami
nat
ion
McConnel
Equi
li
bri
um ofFirm andIndustry andBrue
under Numer ical
pure/per
fectcompet i
ti
on probl
ems
41-
44 11 Priceandquant i
tydeter
minati
on from /Basi c
underperfectcompeti
tionGraphical mat hematics
andmat hemat i
calr
epresentat
ion f
oreconomi st
byMike
Rosser

Page4of4
 McConnel
andBrue
Equili
bri
um ofFi rm and Industry
Numer ical
underMonopoly
probl
ems
Price and quanti
ty det
erminati
on Assignment+
45-
48 12 from /Basi c
underMonopoly Quiz
mat hematics
Graphical and mathematical
f
oreconomi st
represent
ati
on
byMike
Rosser
Equili
bri
um ofFi rm and Industry
Gr oup
underMonopolist
iccompetit
ion McConnel
13- assignment
49-
56 Price and quanti
ty det
erminati
on andBrue
14 andi ts
underMonopolist
iccompetit
ion
pr
esent at
ion
MeasurementofNat i
onaleconomy
Cl
ass Abeland
57-
60 15 GDP, GNP and ot
her
di
scussi
on Ber
nanke
macroeconomicindicator
s
Labormarketequili
brium
unemploymentandf ul
l Cl
ass Abeland
61-
64 16
employ ment di
scussi
on Ber
nanke
I
nflat
ionandi t
seffects

65-
68 17 Fi
nalt
erm Exami
nat
ion

Page5of5
Page6of6