This course offers a comprehensive introduction to both microeconomic and macroeconomic principles that are essential for understanding the functioning of any nation's economy. In the microeconomics portion, we will construct models that illustrate how individual consumers and producers make decisions, how market prices for goods and services are determined, and how resources are allocated efficiently. By examining the behavior of economic agents and market dynamics, students will gain insights into supply and demand, market competition, and pricing mechanisms.
On the macroeconomic side, we will explore the broader forces that shape a nation's overall economic performance, including national income, inflation, unemployment, and economic growth. We will study key indicators and models that explain how economies expand or contract, the role of government in managing the economy, and how international factors influence national markets.
Additionally, the course emphasizes the application of economic analysis to evaluate real-world policies. Students will learn how to use economic frameworks to assess the impacts of governmental decisions, such as taxation, regulation, and monetary policy, on the economy. This foundational knowledge equips learners with the tools to critically evaluate economic issues and understand the potential consequences of various policy choices. Ultimately, this course aims to provide a well-rounded understanding of economic theory and its practical applications in the context of a nation's economic system.
REGISTRATION LINK FOR THIS COURSE
| Course Status : | Upcoming |
| Course Type : | Elective |
| Duration : | |
| Start Date : | 12 Mar 2025 |
| End Date : | |
| Exam Date : | |
| Enrollment Ends : | 15 Apr 2025 |
| Category : | |
| Level : | None |
Unit#: 1
Title: Basic Principles of Economics and Modeling
1. Definition
of Economics, Micro versus Macroeconomics. Positive vs Normative Economics
2. Central
problems of economy. Concept of scarcity. Production Possibility
Frontier.
3. Ten
principles of Economics. Types of goods.
4. Theory of
demand and supply.
5. Elasticity
of demand: percentage and mid-point method cross elasticity.
Unit#: 2
Title: Consumer and Producer Behaviour: It’s applications
1. Consumer
Behaviour: Utility: Total & Marginal, DMU,
2. Utility:
Law of equi-marginal utility.
3. Budget
line, Optimal choice: income and price.
4. Indifference
curves and deriving a demand curve.
5. Production
and laws of production: Law of variable proportion and returns to scale.
Unit#: 3
Title: Revenue & Cost and Forms of Market
1. Revenue
concepts, cost concepts.
2. Tax
incidences and dead weight loss.
3. Market
structure of Perfect competition, monopolistic competition;
4. Monopoly
and price discrimination (PD), how PD works.
5. Oligopoly
market. Game theory: Prisoner’s Dilemma.
Unit#: 4
Title: Introduction to Macroeconomics & Macroeconomics
Policies
1. Basic
Concepts and macroeconomics variables. National Income-Meaning;
2. Methods of
Measuring National Income;
3. Circular
Flow of Income-Two, Three and Four Sector Economy;
4. Fiscal
Policy-Meaning, Objectives and Instruments;
5. Monetary
Policy-Meaning, Objectives and Instruments
Assessment
Policy
|
Assessment Type |
Weightage |
|
Continuous assessment |
30% |
|
Final exam |
70% |
To
successfully complete the course and obtain a certificate, participants must
achieve a minimum of score of 40% chich includes both the continuous assessment
and final exam.
Upon
completion, the earned credits will be transferred to the Academic Bank of
Credit
Dr. Meenakshi Bisla is currently working as an Assistant Professor at NorthCap University, Gururgram, Haryana, in the Department of Management and Commerce, School of Management and Liberal Studies. She has more than four years of experience in Academics and Industry. She has completed her B.A. Economics (Honors) from the University of Delhi and her MBA in Human Resource Management from NIT Kurukshetra. She is a gold medalist in P.G. Diploma in Labour Laws and Labour Management from Gurugram University. She has completed her PhD from the University School of Management Studies in the field of Corporate Sustainability. She has published more than five papers in Scopus and ABDC listed journals. She has presented papers at more than fifteen international conferences and published seven book chapters. Her current research interest lies in the fields of Organizational Behaviour, Corporate Sustainability, Leadership, HR Analytics and Entrepreneurship.
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