Section outline
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Course Description
Economics is a way of thinking about the world. Economists have developed a set of simple but widely applicable concepts and principles that are useful for understating economic situations. The objective of this course is to understand those concepts and principles and to apply them to a business context. This course seeks to introduce the student to microeconomic analysis as a way of understanding the world. A large part of learning microeconomics comprises discovering when abstract models are useful and when they are not. The daily classes are thus devoted to discussing problems that highlight these aspects of microeconomic theory. You should, before class, attempt all problem sets. Most of their value is generated before seeing someone else go through them.
Course Objectives
- Develop an understanding of supply and demand of market
- Assess the market strategy to develop new business concepts and ideas.
- Develop skills in a new business venture management including opportunity recognition, market assessment, and financial and product planning.
- Identify resources and skills.
- Understand the market structure and apply the strategy
Course Outcomes
CLO 1 Understanding concepts of economics
CLO 2 Identify the resources and factors influencing market
CLO 3 Analyze market strategies for managing the venture
CLO 4 Applying economic models in their businessText Book References
- Economics / Paul A. Samuelson, William D. Nordhaus. — 19th ed. p. cm.—(The McGraw-Hill series economics)
- Economics for Business ,Ian Worthington, Chris Britton and Andy Rees ,2nd Edition, Pearson Education Limited.
Course Instructor
Fariza Rahman Prodhan
Lecturer
Department of Innovation & Entrepreneurship
Daffodil International University-
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Lesson Objectives:
- Introduction: why study economics?
- What is business economics?
- The firm in its environment: an overview
- Macro and microeconomic influences on the firm
- Scarcity, choice and resource allocation
- Opportunity cost
- Utility
- Marginal utility
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Lesson Objectives:
- Define GDP, GNP, CPI
- Real GDP
- Nominal GDP
- Difference between GDP and GNP
- Limitations of GDP and GNP
- Calculating GDP
- Calculating CPI
- Gross National Income (GNI)
- Per Capita Income
- Disposable Income
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Students mustMark as doneWhat measures can be taken to control inflation?
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Presentation Topic: "Relationship between Inflation and Unemployment: A perspective of Bangladesh"
- Discuss about inflation, current inflation situation in Bangladesh
- Discuss about unemployment, current unemployment situation in Bangladesh
- How Inflation and Unemployment are interrelated
- Impact on the economic development
- How to improve the situation (Monetary policy/Fiscal policy)
- Other suggestions for improvements
Tentative Date: December 5, Monday
- Presentation will be held in classroom
- Group Presentation
- Each group should contain maximum 6 people.
- Presentation time for each group is 4-5 minutes.
- You should prepare power point slides.
- Use your imagination and creativity
