Courses: Basic Economics
Teaching Staff
Prof. Don Williams (Kent State University Ohio, USA)
Objectives
The course presents basic concepts in microeconomics and macroeconomics, with a focus on dynamic analysis and applications to questions of social policy. Applications are drawn primarily from the Labour Economics literature. The student is introduced to empirical concepts including OLS and logistic regression analysis.
Contents
Microeconomic Fundamentals
- Basic Principles:
- Indifference Curve Analysis of choice
- Opportunity Cost
- Labour Market determination of wages and employment
- Human Capital and the demand for schooling
- Labour market discrimination
- Economic efficiency
Roles and Effects of Government Interventions
- Effects of Alternative Market Structures (market power)
- Effects of price and quantity controls
- Effects of taxes/subsidies
Macroeconomic Concepts (definitions and determinants)
- Unemployment
- Labour Force
- Labour Force participation
- Poverty
- Inequality
- Inflation
- Economics Growth