Topic outline

  • General

    • Announcements Forum

      QUIZ 2  


      Date  - 22/08/2021

      Syllebus - All Final topic

      Time   - 7.00pm to 7.30pm

      Question type - MCQ

    • Message From Course Teacher Lesson

       

      Greeting and welcome to our vast resourceful academic arena in DIU Blended Learning Center (BLC). I am very much pleased and feel honored  you have taken the most right decision by enrolling you in this semester Summer 2021. I think this challenge will help you may be you are already ahead of others who did not take the congenial decision yet just like you. Moving on to a new stage in life can be a challenging process. I wish you the best of luck in all your future endeavors, you will be great! 

      I have seen your struggle and dedication for the study as well as exam. Do not get stress, take time and do your best. I believe that you will do very well and I am here to aid you when you are in an obstacle please don't hesitate to knock me.

      All the best my dear student. Dear, my true success will be seeing you in a better position. Wishing you will be a successful person in life, that will be the best gift for me. May all the dreams that your heart hold, dream, come true so work hard and achieve your success. And may each day of your life bring the best for you. 


      All the best


      Syeda Maria Rahman


  • Introduction

    Daffodil International University (DIU)

    Faculty of Science and Information Technology

    Department of Computer Science and Engineering

    B.Sc. in Computer Science and Engineering

    Semester: Summer-2021



    Course Title : Economics
    Course Code : ECO-321

    Course Instructor  : Syeda Maria Rahman,Lecturer (Accounting & Economics), Department of Business Administration, Faculty of Business & Entrepreneurship, Daffodil International University

    Contact Number : +8801681641830
    E-mail : maria.bba@diu.edu.bd


    Course Description

     

    Economics is a social science that studies how people make decisions in a world with limited resources and the ways in which they interact with one another. The goal of this course is to provide you with the basic tools to “think like an economist” – that is, to be able to use basic economic principles to ask and answer questions about how the world works and the effect of policies. We will cover topics such as how individuals or firms make decisions about the demand or supply of a product, how we can determine the efficiency of a market, and how we evaluate the costs and benefits of trade or government intervention in a market.

     

    Learning‌ ‌Outcomes‌ ‌

     ‌

    On‌ ‌successful‌ ‌completion‌ ‌of‌ ‌this‌ ‌course, ‌ ‌students‌ ‌will‌ ‌be‌ ‌able‌ ‌to: ‌

     ‌

    1.Describe‌ ‌and‌ ‌explain‌ ‌how‌ ‌microeconomics ‌models‌ ‌can‌ ‌be‌ ‌used‌ ‌to‌ ‌consider‌ ‌fundamental‌ ‌

    economic‌ ‌choices‌ ‌of‌ ‌households‌ ‌and‌ ‌firms. ‌ ‌

    2.Describe‌ ‌and‌ ‌explain‌ ‌how‌ ‌macroeconomic‌ ‌models‌ ‌can‌ ‌be‌ ‌used‌ ‌to‌ ‌analyses‌ ‌the‌ ‌economy‌ ‌as‌ ‌a‌ ‌

    whole. ‌ ‌

    3.Describe‌ ‌and‌ ‌explain‌ ‌how‌ ‌government‌ ‌policy‌ ‌influences‌ ‌microeconomics ‌choices‌ ‌and‌ ‌

    macroeconomic‌ ‌outcomes. ‌ ‌

    4.Interpret‌ ‌and‌ ‌use‌ ‌economic‌ ‌models, ‌ ‌diagrams‌ ‌and‌ ‌tables‌ ‌and‌ ‌use‌ ‌them‌ ‌to‌ ‌analyses‌ ‌economic‌ ‌

    situations. ‌ ‌


    Course Outcomes


    In this course, students will learn the Fundamental Economics processes. At the end of the course student will be able to:

     

    ·         Explain what economics is and explain why it is important

    ·         Explain how economists use economic models

    ·         Use graphs in common economic applications

    ·         Illustrate society’s trade-offs by using a production possibilities frontier (or curve)

               Differentiate between positive and normative statements

    ·         Define the term “production” and explain what a production function is; define the term “production inputs,” and differentiate between labor, land, capital, entrepreneurship, technology

    ·         Identify sunk costs

     

             Define the characteristics of Perfect Competition

    ·         Define the characteristics of a monopoly


    Course Contents

     

     

                              Chapters                                 Titles                                            Details

                                                                         

     

                      1

     

     

                         

     

     What Is Economics?                                  

     Define economics and distinguish between microeconomics and macroeconomics                                                                                                                                                                                                                          Explain the two big questions of economics Explain the key ideas that define the economic way of thinking Explain how economists go about their work as social scientists and policy advisers

                      2

      The Economic Problem

    Define the production possibilities frontier and use it to calculate opportunity cost Distinguish between production possibilities and preferences and describe an efficient allocation of resources Explain how current production choices expand future production possibilities

                     3

        Demand and Supply

    Describe a competitive market and think about a price as an opportunity cost Explain the influences on demand Explain the influences on supply Explain how demand and supply determine prices and quantities bought and sold Use the demand and supply model to make predictions about changes in prices and quantities

                    4

               Monopoly

    Explain how monopoly arises and distinguish between single-price monopoly and price discriminating monopoly Explain how a single-price monopoly determines its output and price Compare the performance and efficiency of single-price monopoly and competition Explain how price discrimination increases profit Explain how monopoly regulation influences output, price, economic profit, and efficiency

                   5

     Monopolistic competition

    Define and identify monopolistic competition Explain how a firm in monopolistic competition determines its price and output in the short run and the long run Explain why advertising costs are high and why firms use brand names in a monopolistically competitive industry

                   6

                 Oligopoly

    Define and identify oligopoly Use game theory to explain how price and output are determined in oligopoly Use game theory to explain other strategic decisions Describe the antitrust laws that regulate oligopoly

                  7

             Output and Cost

    Distinguish between the short run and the long run Explain the relationship between a firm’s output and labor employed in the short run Explain the relationship between a firm’s output and costs in the short run and derive a firm’s short-run cost curves Explain the relationship between a firm’s output and costs in the long run and derive a firm’s long-run average cost curve

     

    Recommended Texts: 

    1.     Microeconomics by Parkin


      CLASS ROUTINE OF SPRING 2021




       COUNSELLING HOUR 



    GRADE CHART



    SEMESTER SCHEDULE












  • Lecture 1-5 : What is Economics

    Lecture Objectives:

    To teach the students about the basic concepts of Economics ,along with the definition of Economics,Types of Economics,Need,Want,Demand,Two big economic questions,Self interest can promote Social Interest,Economic way of Thinking,GDP,GNP,Inflation,Deflation and how they can use the knowledge in their academic and professional career.


    Lecture Outcomes:


    At the end of the session student will 

    • You will be able to know the Explain what economics is and explain why it is important

    •  You will be able to Explain what economics is and explain why it is important.     
    • You will be able Use graphs in common economic applications


    Lecture contents:

    • Definition of Economics
    • Differentiate between Micro Economics And Macro Economics
    • Two big Economic Question
    • Short note: Need,Want,Demand,GDP.GNP,Inflation.Deflation
    • Economic Way of Thinking
    • Self Interest and Social Interest
    • Economics as a Social science and Policy tool 


  • Assignment 1


  • Chapter 2 (Lecture 6)

    • Lecture 6 : The Economic Problem

      Lecture Objectives:

      To teach the students about the basic concepts of production possibilities frontier and use it to calculate opportunity cost Distinguish between production possibilities and preferences and describe an efficient allocation of resources Explain how current production choices expand future production possibilities Explain how specialization and trade expand production possibilities Describe the economic institutions that coordinate decisions use the knowledge in their academic and professional career.


      Lecture Outcomes:


      At the end of the session student will 

      • You will be able to the Define the production possibilities frontier and use it to calculate opportunity cost.

      •  You will be able to know Distinguish between production possibilities and preferences and describe an efficient allocation of resources    
      • You will be able to know how current production choices expand future production possibilities


      Lecture contents:


      • Definition of Production Possibilities Frontier
      •  Short Note : Production Efficiency,Opportunity Cost,Firms, Markets,  Property rights,  Money
      • Trade off Along the PPF
      • Chart and Graph of PPF


    • Quiz 1
    • Feedback Forum

  • Quiz 1

    Announcement:


    • Your 1st quiz will be held on 2nd week of July,2021
    • Quiz will be on Chapter 1 and Chapter 2 (What is Economics and Production possibilities Frontier)


  • Chapter 3 Lecture (7-9)

    • Lecture (7-9) Demand and Supply


      Lecture Objectives:


      To teach the Students about the basic concepts of  a competitive market and think about a price as an opportunity cost,  Explain the influences on demand,  Explain the influences on supply,  Explain how demand and supply determine prices  and quantities bought and sold Use the demand and supply model to make predictions about changes in prices and quantities and how they can use the knowledge practically.


      Lecture Outcomes:

      At the end of the session student will be:

      • You will be able to describe a competitive market and think about a price as an opportunity cost
      • You will be able to explain the influences on demand
      • You will be able to explain the influences on supply
      • You will be able to explain how demand and supply determine prices and quantities bought and sold
      • You will be able to use the demand and supply model to make predictions about changes in prices and quantities.


      Lecture Contents:

      1. Definition of Market and Prices 

      2. What is Demand?Explain about the Law of Demand.

      3. Briefly explain about Demand Curve and Demand Schedule

      4. Describe about A Change in the Quantity Demanded Versus a Change in Demand

      5. What is Supply? Explain about the Law of Supply.

      6. A Change in the Quantity Supplied Versus a Change in Supply

      7. Describe about Market Equilibrium.

      8. Math on Market Equilibrium




    • Sharing Reflection and Learning Forum

      1)Write definition of Demand and Supply

      2)What is Market Equilibrium? 

      3) Solve this Equation ( Using Equilibrium Formula)

      Qd= 80-4p

      Qs=60+4p

  • Instructions for Midterm Examination

    Midterm Syllabus

    • Lecture (1-5): What is Economics
    • Lecture (6): The Economic Problem
    • Lecture (7-9): Demand and Supply

    Midterm Marks Distribution:

    • Exam question will made up of 3 set of questions
    • Each set of questions might include short questions and MCQ
    • There will be no options in the question. you have answer all the questions.

    Midterm Preparation

    • Discuss with each other and find the problems regarding upcoming midterm examination
    • Try to solve the problems of each other
    • If you have any problems that you can not solve, then inform me and we will discuss it here and also in the classroom.


    • MIDTERM EXAM


    • Chapter 4 (Lecture 10-14)

      Monopoly and Oligopoly



    • Output and Cost (Lecture 18-Lecture 22_

      • Lecture Objectives:


        To teach the Students about the basic concepts of distinguish between the short run and the long run Explain the relationship between a firm’s output and labor employed in the short run Explain the relationship between a firm’s output and costs in the short run and derive a firm’s short-run cost curves Explain the relationship between a firm’s output and costs in the long run and derive a firm’s long-run average cost curve.


        Lecture Outcomes:


        At the end of the session student will


          •  You will be able to know the distinguish between the short run and the long run
          •  You will be able to explain the relationship between a firm’s output and labor employed in the short run
          • You will be able to know the relationship between a firm’s output and costs in the short run and derive a firm’s short-run cost
          • You will be able to the firms Output and Cost


          Lecture Contents

          • Distinguish between the short run and the long run 
          • Explain the relationship between a firm’s output and labor employed in the short run
          • Relationship between a firm’s output and costs in the short run and derive a firm’s short-run cost curves 
          • Relationship between a firm’s output and costs in the long run and derive a firm’s long-run average cost curve


        • MCQ Question Interactive Content

          Cost and Output

      • Sharing Your Feelings and

      • PRESENTATION


      • Midterm Improvement

      • Preparation for Final Examination



        TOPIC COVERED FOR FINAL EXAMINATION:

        • Lecture (1-5): Chapter 1 : (What is Economics) Need, Want, Demand, Economics Policy
        • Lecture (7-9): Demand and Supply
        • Lecture (10-12): Market Equilibrium, Math
        • Lecture (17-20): Monopoly and Oligopoly
        • Lecture (21-24): Cost and Output

        Final Examination Marks distribution:

        • The exam question will be made up of 5 sets of questions
        • Each set of questions might include short questions, Conceptual question, Table, Graph and mathematical problems
        • There will be options in the question. you have to answer any 4 from the questions


        Open Book Exam Guidelines for Students (Click to Download) 

        Answer Script for Final Exam (Click to Download)

        Image to PDF Generator Mobile Apps: [Use any one of these apps]

        1. Cam Scanner [Click to download in your Smartphone]
        2. Fast Scanner [Click to download in your Smartphone]
        3. Tap Scanner [Click to download in your Smartphone]


      • Ending Session

      • It's time to say,"Good-bye".Our time has come to an end,I've made more cherished memories, and many more Students like my new friends. I've wonder you all learn and grow and change from day to day. I hope that all the things we've done. Have helped in some small way.So it's with happy memories,I send you out the door.With great hope and expectation for what next semester holds in store,


                                                         " LOVE YOU ALL"


        • Have a nice journey and wishes your a bright future