"Introductory Economics" introduces the basic concepts, theories, and methods of economics, and provides a simple and comprehensive economic theoretical basis for economics students or economics enthusiasts who are starters.
This course uses Mankiw ’s Fundamentals of Economics (Sixth Edition, Peking University Press) as the teaching material, including the basic theories of both microeconomics and macroeconomics, such as the theory that equilibrium price is determined by supply and demand, elasticity theory, market efficiency analysis, the analysis of government policies’ intervention and impact on the market, production and cost analysis, corporate decision-making in competitive markets and monopolistic markets and also the measurement of national income, the determinants of national income growth, the market balance of loanable funds, the money supply and price levels, the determinants of economic fluctuations and the impact of macroeconomic policies on aggregate demand. Main categories of economics are covered in this course.
Through the study of this course, students should achieve the following goals by mastering the basic concepts, theories and methods of economics:
1. Students can gain basic knowledge of the market's mechanism for allocating social resources through the interaction of demand, supply, and price; students can get preliminary understanding of the principles that economic subjects' consumption and production decisions are made to achieve maximum interests; Students can give brief analysis of limitations of the market mechanism in allocating resources and the impact of micro measures taken by the government on market mechanisms.
2. Students can gain basic knowledge of the meaning and measurement methods of macroeconomic indicators that show the overall economic situation of a country; students can get preliminary understanding of the factors that have influence on a country's macroeconomic long-term growth, and the effects of it; Students can give brief analysis of the impact of changes in aggregate demand and aggregate supply on macroeconomic fluctuations and the role of fiscal and monetary policies in stabilizing the economy.
Chapter 1 Introduction to Economics
1.1 What is Economics
1.2 Research content of Economics
1.3 Methods of Economics
Week 1 Unit testing
Chapter 2 Demand, supply and market equilibrium
2.1 What is Demand
2.2 What is Supply
2.3 The market equilibrium
Week 2 Unit testing
Chapter 3 Elasticity of Demand and Supply
3.1 Price elasticity of demand
3.2 Supply elasticity
3.3 Application of demand elasticity and supply elasticity
Week 3 Unit testing
Chapter 4 The influence of government policies on the market equilibrium
4.1 The influence of a price ceiling on the market equilibrium
4.2 The influence of a price floor on the market equilibrium
4.3 The influence of taxes on the market equilibrium
Week 4 Unit testing
Chapter 5 Market Efficiency
5.1 The measurement of market efficiency
5.2 The impact of taxation on market efficiency
5.3 The impact of international trade on market efficiency
Week 5 Unit testing
Chapter 6 The impact of government intervention on economy under external conditions
6.1 How the market efficiency is affected by externalities
6.2 Externality exist under what circumstances
6.3 Public goods and resources in the maket
Week 6 Unit testing
Chapter 7 A firm's costs of production
7.1 Production costs and profits
7.2 Short-run costs
7.3 Long-run costs
Week 7 Unit testing
Chapter 8 Decisions made by companies in the market
8.1 The law of income in a competitive market
8.2 In the short-run , decisions made by competitive companies
8.3 In the long-run , decisions made by competitive companies
Week 8 Unit testing
Chapter 9 Manufacturers' decision-making in monopoly market
9.1 The concept of monopoly
9.2 The output decision of a monopoly
9.3 The price decision of a monopoly
9.4 The government will take some measures to intervene in monopoly decisions
Week 9 Unit testing
Chapter 10 The data in the Macroeconomy
10.1 How to measure the national income
10.2 People's living expenses or cost of living in daily life
10.3 Unemployment
Week 10 Unit testing
Chapter 11 Influencing Factors of Economic Growth
11.1 Economic growth of countries in the world
11.2 Determinants of economic growth
11.3 Policies to promote economic growth
Week 11 Unit Testing
Chapter 12 Savings, Investment and Financial System
12.1 Accounting of savings and investments
12.2 Financial institutions in the economy
12.3 Equilibrium in the market for loanable funds
Week 12 Unit testing
Chapter 13 Long-term Currency and Prices
13.1 Commercial Banking and Currency Creation
13.2 The tools of the central bank to control the amount of money
13.3 The Impact of Money Supply on Prices
13.4 The cost of inflation
Week 13 Unit testing
Chapter 14 Total Demand and Total Supply
14.1 Facts about economic fluctuations
14.2 Total demand and its influencing factors
14.3 Total supply and its influencing factors
14.4 Changes in total supply and demand and economic fluctuations
Week 14 Unit testing
Chapter 15 The Impact of Macroeconomic Policies
15.1 The impact of monetary policy
15.2 Impact of fiscal policy
15.3 The debate on the role of macroeconomic policies
Week 15 Unit testing
Mankiw ’s Fundamentals of Economics (Sixth Edition, Peking University Press)
Associate Professor
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