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    Principles of Economics

    Code          : FSU018

    Credits      : 03

    Teacher     : Dr. (Ms) Kesari Singh

    Email         : kesari@shooliniuniversity.com

    Mobile       :  +91-9816603968

    • General News and Announcements Forum
    • Principles of Economics - Lecture Schedule File
      Students must
      Mark as done
    • ASSIGNMENT-1
      Opened: Monday, 28 August 2017, 12:00 AM
      Due: Monday, 4 September 2017, 12:00 AM
      Students must
      Mark as done
    • Assignment-2
      Opened: Wednesday, 30 August 2017, 12:00 AM
      Due: Friday, 8 September 2017, 12:00 AM
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      Mark as done
    • Quiz-1
      Opened: Monday, 11 September 2017, 10:30 AM
      Closed: Monday, 11 September 2017, 11:30 AM
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      Mark as done
    • Assignment-3
      Opened: Saturday, 23 September 2017, 12:00 AM
      Due: Saturday, 30 September 2017, 12:00 AM
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    • ASSIGNMENT-4
      Opened: Monday, 9 October 2017, 12:00 AM
      Due: Monday, 16 October 2017, 12:00 AM
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      Mark as done
    • Discussion Assignment
      Opened: Monday, 9 October 2017, 12:00 AM
      Due: Monday, 16 October 2017, 12:00 AM
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    • Quiz 2
      Opened: Thursday, 2 November 2017, 9:38 AM
      Closed: Thursday, 2 November 2017, 9:56 AM
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    • Open Quiz
      Opened: Friday, 24 November 2017, 9:30 AM
      Closed: Tuesday, 28 November 2017, 6:00 PM
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      Will be Available on 24.11.2017 between 9.30 AM to 5.30 Pm

      Duration of the Quiz 10 Minutes

    • Open Quiz 2
      Opened: Friday, 1 December 2017, 10:00 AM
      Closed: Monday, 4 December 2017, 6:00 PM
      Students must
      Mark as done

      Will be Available on 04.12.2017 between 10.00 AM to 6.00 Pm
      Duration of the Quiz 10 Minutes

    • CASE Assignment
      Opened: Thursday, 30 November 2017, 12:00 AM
      Due: Thursday, 7 December 2017, 12:00 AM
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    • Discussion Forum-1
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  • Lecture 1 - Principles of Economics: Overview

    Lecture:  1

    Details

    Pedagogy
    • Oral & Power Point Presentation 
    • Some Videos on Economics

    Topics to be covered
    1. 1.        Overview of the Course and its structure
    • Introduction
    • What are the principles of economics?
    • Why to study principles of economics?
    • Mention few renowned economists

    Learning Motivation
    1. Understanding of relevance principles of economics.

    Readings

    PPTs uploaded by the course coordinator

    Case Study /Practical

    -

    Assignment/Quiz/ Project

    -

     
     

  • Lecture 2 - Basic Principles of Economics

    Lecture:  2

    Details

    Pedagogy
    • Video on Economics in Daily life
    • Power Point Presentation and Classroom Interaction
    • Practical Examples

    Topics to be covered
    1. 1.        Basic Principles of Economics:
    • Unlimited Wants
    • Scarcity of Means/Resources
    • Problem of Choice

    Learning Motivation

    1. Understand the importance of economics in day to day life- Spending their pocket money (income) and making choices.

    1. Cite the important decisions that mangers must make concerning the allocation of company’s scarce resources- how many people to hire?

    Readings

    1. PPTs uploaded by the course coordinator

    2. Principles of Economics by Deppasgree, Tata McGraw Hill,  1.11-1.13.

    Case Study /Practical

    -

    Assignment/Quiz/ Project

    -

  • Lecture 3 - Definitions of Economics

    Lecture:  3             

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • Practical Examples

    Topics to be covered

    1. Definitions of Economics

    • Definition by Adam Smith
    • Definition by Robbins
    • Definition by Other Economists

    Learning Outcomes

    1. Explain the different aspects of economics

    2. Describe the broader scope of economics

    Readings

    1. Microeconomics my T.R. Jain, VK Publication, 1-21.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    ASSIGNMENT: Critically examine Robbins’s definition of economics.

    TO BE SUBMITTED IN ONE WEEK

  • Lecture 4 - Basic Economic Questions

    Lecture:  4

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • Practical Examples

    Topics to be covered

    Three Basic Economic Questions in Business

    • What goods and services should be produced?- The Product Decision
    • How should these goods and services be produced?- The hiring, staffing, procurement and capital budgeting decisions
    • For whom should these goods and services be produced?- The market segmentation decision

    Learning Outcomes

    1. Cite the important decisions that mangers must make concerning the allocation of company’s scarce resources- how many people to hire?

    2. Cite and compare the three basic economic questions from the standpoint of an entrepreneur/company.

    Readings

    1. Principles of Economics by Deepashree, Tata McGraw Hill, 1.14-1.16.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

     

  • Lecture 5 - Nature of Economics

    Lecture:  5

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • White Board

    Topics to be covered

    1. Nature of Economics:

    • Economics as an Art
    • Economics as a Science

    Learning Outcomes

    1. Recognize the subject matter of economics as science and arts.

    Readings

    1.Micro Economics by T.R. Jain, VK Publications, Delhi, PP-22-41

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

     

  • Lecture 6 - Scope of Economics

    Lecture:  6

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of demand.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Scope of Economics

    • Micro Economics
    • Macro Economics

    Learning Outcomes

    1. Identify the concepts of micro and macro economics

    2. Analyse the use of micro and macroeconomic concepts

    Readings

    1.Micro Economics by T.R. Jain, VK Publications, Delhi, PP-24-41

    Assignment/Quiz/ Practical

     

  • Lecture 7 - Revision & Discussion

    Lecture:  7

    Date/Day:

    Pedagogy

    Discussion

    Topics to be covered

    Revision on nature and scope of economics

    Learning Outcomes

    1. Clarify the doubts to proceed further

    Readings

    PPTs and Readings Mentioned above.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 8 - Demand

    Lecture:  8

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of demand.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Demand:

    • Meaning of demand
    • Demand schedule- individual and market demand schedules
    • Demand curve- Individual Vs Market Demand Curve

    Learning Outcomes

    1. Describe market demand for a product as a summation of individual demand

    2. Draw demand curve

    Readings

    1. Principles of Economics by Deepashree, Tata McGraw Hill, 3.1.1, 3.3.1-3.3.2.

    Assignment/Quiz/ Practical

     

  • Lecture 9 - Law of Demand

    Lecture:  9

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • White Board and Marker for diagrams

    Topics to be covered

    1. Law of Demand

    • Statement, assumptions and explanation with demand schedule and demand curve Reasons

    2. Demand Function

    • Factors affecting demand

    Learning Outcomes

    1. Describe an increase in demand for a product when its price falls and vice-versa.

    2. Explain determinants of demand

    Readings

    1. Principles of Economics by Deepashree , Tata McGraw Hill, 3.2.1-3.2.3, 3.1.2-3.1.5

    Assignment/Quiz/ Practical

    ASSIGNMENT: Justify the negative relationship between price and quantity demanded. Is this relationship always negative?

    TO BE SUBMITTED IN ONE WEEK

  • Lecture 10 - Change in Demand

    Lecture:  10

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • White Board and Marker for diagrams
    • Practical Examples

    Topics to be covered

    1. Change in Demand:

    • Movements along the demand curve
    • Shift of demand curve

    Learning Outcomes

    1. Describe the shift in demand curve

    2. Explain the reasons for shift in demand curve

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 3.4.1-3.4.3.

    Assignment/Quiz/ Practical

     

  • Lecture 11 - Supply

    Lecture:  11

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of supply.
    • White Board and Marker for diagrams
    • Practical Examples

    Topics to be covered

    1. Supply:

    • Meaning of supply
    • Supply schedule- individual and marker supply schedules

    3. Law of supply:

    • Statement
    • Assumptions and explanation with supply schedule and supply curve.

    Learning Outcomes

    1. List the non-price determinants of supply for different types of goods/products

    2. Describe the positive relationship between price and quantity supplied.

    Readings

    1. Principles of Economics by Deepashree, Tata McGraw Hill, 3.5.1-3.6.3.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 12 - Market Equilibrium

    Lecture:  12

    Date/Day:

    Pedagogy
    • Video: Supply, Demand, Price
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of market equilibrium.
    • White Board and Marker for diagrams
    • Examples

    Topics to be covered

    1. Market Equilibrium:

    • Interaction of Demand and Supply
    • Price Determination

    Learning Outcomes
    1. Analyse the effect of excess demand on price
    2. Evaluate effect of excess of supply on price

    Readings

    1. Principles of Economics by Deepashree, Tata McGraw Hill, 3.9.1-3.10.2.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Practice the shift in demand and supply and change in price.

  • Lecture 13 - Elasticity of Demand

    Lecture:  13

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of elasticity of demand.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Elasticity of Demand:

    • Meaning of elasticity of demand

    2. Types of Elasticity of Demand

    • Price elasticity of demand: Meaning and measurement
    • Degrees of price elasticity of demand: perfectly elastic, perfectly inelastic, unitary elastic

    Learning Outcomes

    1. Enable students to measure price elasticity coefficient and its interpretation

    2. Deciding price for a new product

    Readings

    1. Principles of Economics by Deepashree, Tata McGraw Hill, 4.1.1-4.1.3.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Practice on calculation of coefficient of elasticity of demand

  • Lecture 14 - Cross Elasticity of Demand

    Lecture:  14

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Cross Elasticity of Demand:

    • Meaning of cross elasticity of demand
    • Measurement of cross elasticity of demand
    • Degrees of cross elasticity of demand: positive, negative, zero elasticity

    Learning Outcomes

    1. Enable students to measure cross elasticity of demand

    2. Calculate the change in demand due to change in price of the substitute or compliment product

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 4.4.1-4.4.2.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 15 - Income Elasticity of Demand

    Lecture:  15

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Income elasticity of demand:

    • Meaning and measurement
    • Degrees of income elasticity of demand: positive, negative and zero income elasticity

    Learning Outcomes

    1. Enable students to measure income elasticity of demand

    2. Calculate the change in demand due to change in income of the consumers.

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 4.3.1-4.3.2.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    ASSIGNMENT: Why is it important to study the elasticity of demand?

  • Lecture 16 - Elasticity of Supply

    Lecture:  16

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • White Board and Marker for diagrams

    Topics to be covered

    Elasticity of supply: meaning

    •  Degrees of Elasticity of Supply

    Learning Outcomes

    1. Enable students to measure elasticity of supply

    2. Calculate the change in supply due to change in price of the product

    Readings

    1. Principles of Economics by Deepashree, Tata McGraw Hill, 4.5.1-4.6.2.

    Assignment/Quiz/ Practical

    Practice exercises on calculation of coefficient of elasticity of supply.

  • Lecture 17 - Law of Diminishing Utility

    Lecture:  17

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • Board and Marker for diagrams

    Topics to be covered

    1. Consumer Theory

    • Utility Analysis
    • Law of Diminishing Marginal Utility

    Learning Outcomes

    1. Evaluate the basis of consumer choices

    2. Describe how does consumer allocate its limited income among different goods

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 6.1, 6.2.1-6.2.6, 6.3.

    Assignment/Quiz/ Practical

     

  • Lecture 18 - Demand & Law of Diminishing Utility

    Lecture:  18

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • Board and Marker for diagrams

    Topics to be covered

    1. Consumer Theory

    • Demand and Law of Diminishing Utility

    Learning Outcomes

    1. Analyze basis of law of demand

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 6.1, 6.2.1-6.2.6, 6.3.

    Assignment/Quiz/ Practical

     

  • Lecture 19 - Revision

    Lecture:  19

    Date/Day:

    Pedagogy

    Topics to be covered

    Revision and discussion on Demand and Supply analysis

    Learning Outcomes

    1. Clear the doubts and practice

    Readings

    PPTs provided by the Course Coordinator

  • Lecture 20 - Production

    Lecture:  20

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concepts of production.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Production Theory:

    • Production function- meaning
    • Concepts of production: total , average and marginal product

    Learning Outcomes

    1. Explain different concepts of production

    2. Calculation of concepts of production

    Readings

    1. Managerial Economics- Economic Tools for Today’s Decision Makers by Paul G. Keat, Philip K.Y. Young & Sreejata Banerjee, Fifth Edition, Pearson Education, PP 180-194.

    Case Study/The Situation

    1. Principles of Economics by , Tata McGraw Hill, 8.1, 8.2.

    Assignment/Quiz/ Practical

    ASSIGNMENT: Calculation of AP, MP  from TP and study the relationship among three.

  • Lecture 21 - Production in Short Run

    Lecture:  21

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concepts of production.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Short run analysis of production: law of diminishing returns

    Learning Outcomes

    1. How the decision regarding utilization of resources in short run.

    Readings

    1. Principles of Economics by, Tata McGraw Hill, 8.4.1-8.4.7.

    Case Study/The Situation

    Practice on Calculation of AP and MP from TP

    Assignment/Quiz/ Practical

     

  • Lecture 22 - Three Stages of Production

    Lecture:  22

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • White Board and Marker for diagrams

    Topics to be covered

    1. Short run analysis of production: law of diminishing returns

    • Three stages of production in short-run

    Learning Outcomes

    1. Analyse the decision regarding utilization of resources in short run.

    2. Evaluate which stage is the optimum one.

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 8.5.1-8.5.4.

    Case Study/The Situation

    Practice on Calculation of AP and MP from TP and the relationship among these concepts.

    Assignment/Quiz/ Practical

     

  • Lecture 23 - Production in Long Run

    Lecture:  23

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concepts of production.
    • White Board and Marker for diagrams

    Topics to be covered

    1.  Long-run analysis of production

    • Increasing Returns to Scale
    • Constant Returns to Scale
    • Decreasing Returns to Scale

    Learning Outcomes

    1. Analyse the decision regarding utilization of resources in long run.

    2. Evaluate which stage is the optimum one.

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 8.7.1-8.7.3

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    ASSIGNMENT: Why is it always beneficial to be in second stage of production?

  • Lecture 24 - Discussion & Revision

    Lecture:  24

    Date/Day:

    Pedagogy
    • Discussion and revision of production concepts and analysis.
    • White Board and Marker for diagrams

    Topics to be covered
    • Production and analysis

    Learning Outcomes
    • Clear the doubts

    Readings
    • PPTs uploaded by the course coordinator

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Discussion

  • Lecture 25 - Cost of Production

    Lecture:  25

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of cost.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Cost of Production:

    • Cost concepts- total, average and marginal costs, fixed and variable costs, opportunity cost etc.

    Learning Outcomes

    1. Explain and identify different types of costs involved in production

    2. Explain the relationship among different costs

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 9.1, 9.2.1- 9.1.2, 9.2, 9.3.1, 9.3.2-9.3.4

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

     

  • Lecture 26 - U-Shaped AC Curve

    Lecture:  26

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of cost.
    • White Board and Marker for diagrams

    Topics to be covered

    1. U-Shaped Average Cost Curve

    • Reasons for U-Shape of Average Cost Curve

    2. Relationship between production and cost concepts

    Learning Outcomes

    1. Evaluate why does per unit cost initially fall and start increasing after a certain point.

    2. Explain the relationship among different cost and production concepts

    Readings

    1. Principles of Economics by , Tata McGraw Hill,9.4.1

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    ASSIGNMENT: Why per unit cost falls initially and starts increasing after a certain point?

  • Lecture 27 - Discussion

    Lecture:  27

    Date/Day:

    Pedagogy
    • Review of production and cost concepts
    • Discussion
    • White Board and Marker for diagrams

    Learning Outcomes

    1. Clear the doubts

    2. Practise concepts of cost and production

    Readings

    1. Principles of Economics by , Tata McGraw Hill,9.4.1

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Discussion on Economies of Scale

  • Lecture 28 - Market Structures

    Lecture:  28

    Date/Day:

    Pedagogy
    • Video on market structures
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of market structure.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Market Structures:

    • Introduction to Market Structures
    • Why to study market structures?

    Learning Outcomes
    1. List products sold in different market conditions
    2. Compare and contrast the degree of competition among different market types

    Readings

    1. Principles of Economics by Deepashree, Tata McGraw Hill, 10.4

    2. PPTs by the Course Coordinator

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 29 - Perfect Competition

    Lecture:  29

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to perfect competition
    • Examples
    • White Board and Marker for diagrams

    Topics to be covered

    1. Perfect Competition:

    • Meaning and features/assumptions

    Learning Outcomes

    1. List the products sold under competitive market conditions

    Readings

     

    Case Study/The Situation

    1. Principles of Economics by , Tata McGraw Hill, 10.1.1- 10.1.2

    Assignment/Quiz/ Practical

     

  • Lecture 30 - Monopoly

    Lecture:  30

    Date/Day:

    Pedagogy
    • Video on market structures
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of monopoly and examples.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Monopoly:

    •  Meaning and examples
    • Demand, MR and MC under Monopoly
    • Features/Assumptions of Monopoly

    Learning Outcomes

    1. List specific examples and reasons for monopoly markets

    2. Compare perfect competition with monopoly market

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 11.1-11.2.5

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

     

  • Lecture 31 - Monopolistic Competition

    Lecture:  31

    Date/Day:

    Pedagogy
    • Video on market structures
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of monopolistic markets and practical examples.
    • White Board and Marker for diagrams

    Topics to be covered

    1. Monopolistic Competition:

    Learning Outcomes

    1. List specific actual examples of monopolistic markets

    2. Explain the reasons for differentiation in products under monopolistic markets

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 12.1-12.5

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer/Practice Sessions

  • Lecture 32 - Discussion

    Lecture:  32

    Date/Day:

    Pedagogy
    • Discussion
    • Power Point Presentation and Classroom Interaction
    • White Board and Marker for diagrams

    Topics to be covered

    Compare perfect competition with monopoly and monopolistic competition

    • Basis of main features
    • Basis of demand curve

    Learning Outcomes

    1. Explain the competition in market

    2. Describe the importance of selling cost

    Readings

    1. Reading mentioned above

    2. PPTs by Course Coordiantor.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

     

  • Lecture 33 - Oligopoly

                Lecture:  33

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to the concept of oligopoly and practical examples.
    • White Board and Marker

    Topics to be covered

    1. Oligopoly:

    • Meaning
    • Basic assumptions/features- few sellers, market concentration, interdependence

    Learning Outcomes

    1. List specific actual examples of oligopoly markets

    2. Interpret reasons behind assumptions of oligopoly

    Readings

    1. Principles of Economics by , Tata McGraw Hill, 13.1-13.3

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 34 - Revision and Discussion

    Lecture:  34

    Date/Day:

    Pedagogy
    • Revision and Discussion
    • Examples of different market structures
    • White Board and Marker

    Topics to be covered

    1. Perfect Competition

    2. Imperfect Competition

    Learning Outcomes

    1. List specific actual examples of different products sold under different market conditions

    2. Compare the market structures

    Readings

    1. PPTs uploaded

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

    Discussion of examples of different market structures

  • Lecture 35 - How does economy work?

    Lecture:  35

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to working of an economy.
    • White Board and Marker

    Topics to be covered

    1. How does economy work?

    2. Circular flow of goods

    • Two sector economy
    • Three sector economy

    Learning Outcomes

    1. Illustrate working of an economy

    2. describe the independence of all sectors and flow of goods in the economy

    Readings

    1. Principles of Economics by Deepashree, Tata McGraw Hill, 1.22-1.24

    2. 1. Principles of Macroeconomics by T.R. Jain, VK Publications, 94, 129

    Case Study/The Situation

                                                

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 36 - How does economy work? Four Sector Economy

    Lecture:  36

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to working of an economy.
    • White Board and Marker
    • Activity

    Topics to be covered

    1. How does economy work?

    2. Circular flow of goods

    • When exchange of goods with other countries takes place
    • X-M

    Learning Outcomes

    1. Illustrate working of an economy

    2. describe the flow of goods outside the economy

    Readings

    1. Principles of Macroeconomics by T.R. Jain, VK Publications, 154.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 37 - GDP

    Lecture:  37

    Date/Day:

    Pedagogy
    • Video
    • Power Point Presentation and Classroom Interaction: Introduction to macro aggregates.
    • White Board and Marker

    Topics to be covered

    1. GDP:

    • Meaning
    • Real GDP
    • Nominal GDP

    2. Aggregates of GDP

    Learning Outcomes

    1. Differentiate between real and nominal GDP and other aggregates

    Readings

    1. Principles of Macroeconomics by T.R. Jain, VK Publications, 13, 23.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    ASSIGNMENT: Calculate different aggregates from the information.

  • Lecture 38 - Measurement and calculation of macro aggregates

    Lecture:  38

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction
    • White Board and Marker

    Topics to be covered

    1. Measurement and calculation of macro aggregates

    2. Difference between various aggregates

    Learning Outcomes

    1. Calculate different aggregates

    Readings

    1. Principles of Macroeconomics by T.R. Jain, VK Publications, 23.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

     

  • Lecture 39 - Problem Solving

    Lecture:  39

    Date/Day:

    Pedagogy
    • Problem Solving
    • White Board and Marker

    Topics to be covered

    1. Problem solving on:

    • GDP and its aggregates

    Learning Outcomes

    1. Calculate GDP and its aggregates

    Readings

    1. Principles of Macroeconomics by T.R. Jain, VK Publications, 23-50

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 40 - Consumption

    Lecture:  40

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to Consumption and Investment
    • White Board and Marker

    Topics to be covered

    1. Consumption

    • Meaning
    • Constituents

    Learning Outcomes

    1. Understand the concept of consumption and its aggregates

    Readings

    1. Principles of Macroeconomics by T.R. Jain, VK Publications, 70-94

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 41 - Investment

    Lecture:  41

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to Consumption and Investment
    • White Board and Marker

    Topics to be covered

    1. Investment

    • Meaning
    • Constituents

    2. Y = C+I

    Learning Outcomes

    1. Understand the concept of Investment and its aggregates

    2. Relate consumption and investment with income

    Readings

    1. Principles of Macroeconomics by T.R. Jain, VK Publications, 70-94.

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    Question Answer Session

  • Lecture 42 - Inflation

    Lecture:  42

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to Inflation
    • White Board and Marker

    Topics to be covered

    1. Inflation

    • Meaning
    • Types

    Learning Outcomes

    1. Understand inflation

    2. Assess price rise in the economy

    Readings

    1. PPTs uploaded

    2. Macro Economics by Morris A. Davis, Cambridge University Press

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

    ASSIGNMENT: How is disequilibrium in market forces related to inflation?

  • Lecture 43 - Demand Pull Vs Cost Push Inflation

    Lecture:  43

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to Inflation
    • White Board and Marker

    Topics to be covered

    1. Inflation

    • Demand Pull inflation
    • Cost Push inflation

    Learning Outcomes

    1. Understand inflation

    2. Relate shift in demand curve with inflation

    Readings

    1. PPTs uploaded

    2. Macro Economics by Morris A. Davis, Cambridge University Press

    Case Study/The Situation

    Assignment/Quiz/ Practical

    Question Answer and Practice Sessions

  • Lecture 44 - Economic Growth & Development

    Lecture:  44

    Date/Day:

    Pedagogy
    • Power Point Presentation and Classroom Interaction: Introduction to Economic Development and Growth
    • White Board and Marker

    Topics to be covered

    1. Economic Growth

    2. Economic Development

    Learning Outcomes

    1. Differentiate between growth and development

    2. Describe indicators of economic growth and development

    Readings

    1. Development Economics by T.R. Jain, VK Publications.

    Case Study/The Situation

    Assignment/Quiz/ Practical

  • Lecture 45 - Summary

    Lecture:  45

    Date/Day:

    Pedagogy

    Topics to be covered

    1. Revision and Concluding Remarks

    Learning Outcomes

    1. Clear the doubts

    2. Evaluate overall learning from the course

    Readings

    PPTs by the Course Coordinator

    Case Study/The Situation

     

    Assignment/Quiz/ Practical

     

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