DIU-BLC
Business Economics ( Micro and Macro) (Fall 2023)
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Welcome to the course Business Economics (ECO-401)
Announcements
Course Summary
Assessment Plan
Reference Book-1
Reference Book-2
Course Outline
Topic 1: The central concepts of Economics
Topic 1: The central concepts of Economics
Handwritten Material: Law of Diminishing Marginal Utility ✅
What is Economics?
Scarcity, Choice and Opportunity Cost
What is Scarcity, Choice, Opportunity Cost, Utility &The Basic Economic Problem?
Introduction to Economics: Scarcity and Opportunity Cost
Scarcity, Choice and Opportunity Cost
Introduction to utility
The Law of Diminishing Marginal Utility Explained in One Minute: From Definition to Examples
Central concepts of Economics
Short Quiz
Resource Scarcity Game 💭
Resource Scarcity Game
Resource Scarcity Game 💭
Winner of Resource Scarcity Game 🎁
Topic-2 : Demand in Economics
Topic 2: Demand in Economics
Economic Demand
The Laws of Demand and Supply
How does The Law of Supply and Demand work?
Difference between NEED, WANT and DEMAND
Understanding Needs, Wants, Demands, and Supply - Basic Concepts of Economics
Need vs Wants vs Demand
Demand in Economics
Short Quiz
Assignment ✅
Assignment ✅
Topic-3: Supply in Economics
Topic 3: Supply in Economics
Law of supply
The Supply Curve
Movement vs Shift of Supply Curve
Factors affecting supply
Factors Affecting Supply
Supply-Demand Curve
Shifts in the Supply Curve
Movement in the Supply Curve
Supply in Economics
Short Quiz
Topic-4: Market Equilibrium/Price Determination
Topic 4: Market Equilibrium/Price Determination
Market equilibrium
The Equilibrium Price and Quantity
What is Economic Equilibrium?
Changes in equilibrium price and quantity when supply and demand change
Changes in Equilibrium Prices
Equilibrium price and quantity from changes in both supply and demand
Market Equilibrium
Market Equilibrium
Short Quiz
Topic 5: Market Structure
Topic 5: Market Structure
Market and Types of Market
Differences between Monopoly and Oligopoly
Monopolies vs. perfect competition
💭
Topic-6: Economic structure of a country
Topic 6: Economic structure of a country
Common characteristics of a developing country
Does perfect economy exists?
How rich nation becomes richer?
Becoming A Developing Nation: Bangladesh reaches A Milestone
How Bangladesh Became a Developing Country
Bangladesh (Next China) Economic Growth Miracle - Why Bangladesh’s Economy is booming?
What is a Developing Country?
Classifying Developed and Developing Countries
Third World vs First World Countries - What's The Difference?
Economic structure of a country
Topic-7: Economic Systems
Topic 7: Economic Systems
Economic Systems: Capitalist vs Socialist economies
Socialism or Capitalism: Which is Better?
Mixed Economy Systems
Mixed Economy - Meaning, Characteristics, Advantages & Disadvantages
What Is Consumer Surplus?
Economic Systems
Topic 8: Elasticity of Demand
Topic 8: Elasticity of Demand
Additional Handwritten Material
Introduction to price elasticity of demand
Determinants of price elasticity of demand
Income elasticity of demand
Cross elasticity of demand
Elasticity of supply
Elasticity and strange percent changes
Let's think! 💭
Elasticity of Demand Math
Home Task ✅
Elasticity of Demand Math
Quiz 3 ✅
Start your Quiz-3 here!
Topic-9: Production Possibilities Frontier
Final Notes!
Topic 9: Production Possibilities Frontier
Handwritten Material ✅
Production possibilities frontier
Allocative efficiency and marginal benefit
Production Possibility Frontier (PPF) explained
Production possibilities frontier
Production Possibility Frontier (PPF) and Efficiency
(Production Possibility Frontier/Curve, PPF, PPC) Why can't things be free?
Production Possibilities Curve as a model of a country's economy
Production Possibilities Frontier
Production Possibilities Frontier
Short Quiz
Topic 10: Cost of Production
Final Notes!
Handwritten Material
Topic 10: Cost of Production
The Cost of Production
Marginal cost and average total cost
Fixed, Variable, and Marginal Cost
Let's think! 💭
Class activity ✅
Fixed Cost vs Variable Cost
Formulate Cost Table and Graph ✅
Topic 11: Consumer Behavior
Topic 11: Consumer Behavior
Consumer Behavior
Understanding consumer behavior, from the inside out
Warren Buffett: Just Looking At The Price Is Not Investing
Let's reflect! 💭
Topic 12: Fiscal and Monetary Policy
Topic 12: Fiscal and Monetary Policy
Fiscal Policy explained
Introduction to Fiscal Policy
Monetary Policy explained
Expansionary Monetary policy and Contractionary Monetary Policy
Fiscal and Monetary Policy
Topic 13: GDP, GNP, CPI
Topic 13: GDP, GNP, CPI
What is GDP?
What is Gross Domestic Product (GDP)?
What is GDP (Gross Domestic Product)?
GDP Vs GNP: Difference between them with definition & comparison
How the Consumer-Price Index Measures Inflation
Consumer Price Index
Write differences between GDP and GNP.
What are the limitations of GDP, GNP and CPI?
Class Activity ✅
GDP Math
Topic 14: Inflation
Topic 14: Inflation
What is Inflation?
How The U.S. Made Inflation Worse
Inflation Explained: What is Inflation, Types and Causes?
Controlling Inflation
Quiz-4!!! ✅
Start your Quiz-4 here!!
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ECO-401 (FRP-232)
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DIU
Faculty of Business & Entrepreneurship
Innovation and Entrepreneurship
IE Fall 2023
ECO-401 (FRP-232)
Summary
Business Economics ( Micro and Macro) (Fall 2023)
Teacher:
Fariza Rahman Prodhan
Skill Level
:
Beginner