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Bpam 112 Course Outline

This document outlines the course details for an Introduction to Micro and Macro Economics Analysis course taught at Ernest Bai Koroma University of Science and Technology. The course is divided into two parts, microeconomics and macroeconomics. At the micro level, students will learn basic economic concepts including supply and demand, elasticity, consumer behavior, and production costs. At the macro level, students will learn about measuring economic indicators like GDP and unemployment, and analyzing relationships using macroeconomic models. The course aims to give students a foundational understanding of fundamental economic issues and analysis at both the national and individual level.

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42 views

Bpam 112 Course Outline

This document outlines the course details for an Introduction to Micro and Macro Economics Analysis course taught at Ernest Bai Koroma University of Science and Technology. The course is divided into two parts, microeconomics and macroeconomics. At the micro level, students will learn basic economic concepts including supply and demand, elasticity, consumer behavior, and production costs. At the macro level, students will learn about measuring economic indicators like GDP and unemployment, and analyzing relationships using macroeconomic models. The course aims to give students a foundational understanding of fundamental economic issues and analysis at both the national and individual level.

Uploaded by

mansaraymusa788
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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ERNEST BAI KOROMA UNIVERSITY OF SCIENCE AND TECHNOLOGY

MAKENI UNIVERSITY COLLEGE CAMPUS

BACHELOR IN PUBLIC ADMINISTRATION AND MANAGEMENT

Course Code: BPAM 112

Course Title: INTRODUCTION MICRO & MACRO ECONOMICS ANALYSIS

Course Status: Core

Credit Hours: 3

Tutor: Mr. Saidu Ibrahmi Kuyateh

Certificate in Budgeting and Scheduling a Project, Certificate in Career Guidance and Job
Readiness, B. Sc Honors in Economics, Master in Corporate Governance- Financial
Services Management and Insurance Trust.

+232 30 829 344/ +232 76 102 495

[email protected]
Course Learning Outcomes: This course is divided into two parts, which are macro and micro
economics. At the Macro level students will acquire a deeper understanding of the fundamental
macroeconomic issues, analysis and problems prevailing over a nation and also try to find out
strategies used in overcoming macroeconomic problems; since the issues are contemporary. At
the micro level students would be introduced to some conceptual tools with which to think and
understand the vast range of issues which confronts society and the decisions that they make in
their everyday life.

Course Description: PART A: Introduction to Micro Economics –

Topic 1: Basic Concepts of Demand and Supply:

 Definition of demand and Supply,


 Demand Schedule and Demand curve,
 Characteristics of demand curve, income and substitutions effects,
 Factors affecting demand curve,
 Movement along and shift in the demand curves from individual to the market demand,
 Elasticity of Demand and Supply:
 Price elasticity of demand, calculating elasticity,
 Elastic and inelastic demand,
 Determinants of elasticity of demand,
 Supply schedule and supply curve,
 Factors affecting the supply curve,
 Movement along and shift in the supply curves from individual to the market demand,
 The equilibrium in demand and supply,
 Effects of a shift in demand and supply, shift in equilibrium.
 Price elasticity in diagrams,
 Price elasticity of supply.

Topic 2: Demand and Consumer Behaviour:

 Choice and utility theory,


 Utility types and concepts,
 Law of diminishing returns, marginal utility, equi-marginal principle,
 Consumer surplus,
 The indifference curves,
 The indifference map,
 Budget line/ budget constraints, consumer equilibrium.

Topic 3: Theory of Production and Analysis of Costs:

 The production function: Total, average and marginal products,


 The law of diminishing returns,
 Returns to scale, constant, increasing and decreasing returns to scale,

Analysis of Costs
Total and marginal, fixed and variable costs, average fixed costs and variable costs. U-shaped
cost curves, marginal products and least costs roles.

TOPIC 4: ASSIGNMENT

a. Market: Product market and Factor Market


 Perfect competition, monopoly, monopolistic and oligopoly markets
 Equilibrium under perfect competition and monopoly market
b. Factor Market: Land, Labour, capital and income distribution,
 Nature of factor demands,
 Demand for production,
 Supply of production, and determination of factor prices by supply and demand;
c. The Labour Market: Demand for labour, supply of labour,
 Wage differential, the economics of discrimination,
 Reducing labour market discrimination;
 Market and economic efficiency of competitive markets: market failures, risks and
uncertainty, moral hazards and adverse selection, market and economic policy.
PART B: Introduction to Macro Economics –

Introduction to Macroeconomics

 Interpretation and meaning of Macroeconomics


 Macro-economic problems/ challenges
 Basic concepts in macroeconomics; Time-frame organization of macroeconomics;
 Measuring and analysing Gross Domestic ProductGross National Product, National
Income, etc.
 Measuring some macroeconomic rates (Inflation, Unemployment, aggregate demand and
Supply, etc.)
 Analysing Inflation and Unemployment ( analysing the Philip’s Curve)
 Contextualising Macroeconomics in national development (Sierra Leone in particular).
 Continuous and real analysis economic models;
 Relationship between variables in macroeconomic models;
 Macroeconomic policies (Fiscal, Monetary and Physical Policies)

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