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ECO401 : Economics

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Course Info
Course Category	Economics
Course Level	Undergraduate
Credit Hours	3
Pre-requisites	ECO402, ECO403
Instructor	Syed Ali Abbas D.Phil Economics Oxford University

Course Contents
Branches of Economics Factors of Production Economic System Rational Choice and Cost-Benefit Analysis Opportunity Cost Production Possibility Frontier Goods Market and Factor Market Shortage and Surplus Law of Supply Equilibrium Role of Government in Price Determination and Equilibrium Analysis Price Elasticity of Demand Elastic and Inelastic Demand Effects of Advertising on Demand Curve Price Elasticity of Supply Income Elasticity of Demand Cross-Price Elasticity of Demand Cardinal and Ordinal Utility Approach Law of Diminishing Marginal Utility Law of Equi-Marginal utility Consumer Behaviour Uncertainty and Risk Budget Line Optimum Consumption Point for Consumer Income Consumption Curve The Price Consumption Curve Firm Production Function The Law of Diminishing Marginal Returns Theories of Production The Scale of Production Economies of Scale Optimim Combination of Factors Isoquant Marginal Rate of Technical Substitution Isocost Optimal Combination of Factors Sunk Cost Cost Revenues Profit Maximization Market Structures Perfect Competition Monopoly Monopoly and the Public Interest Government Regulations Price Discrimination Monopolistic Competition Oligopoly Collusive and Non-Collusive Oligopoly Kinked Demand Curve Welfare Economics Market for Factors of Production The Economics of Information Products Aggregate Demand and aggregate Supply Classical Economics Classical Views about Great Depression Keynesian Views about Great Depression Differences between Classical and Keynesian Economics Aggregate Demand and Supply: The Classical View Aggregate Demand and Supply: The Keynesian View Different School of Thoughts National Income Accounting Methods to Measure GDP National Income Accounting (Continued) Price Deflator Purchasing Power Parity Leakages and Injections Macroeconomic Equilibrium Consumption and Consumption Function The Saving Function Investment and Investment Demand Curve Determination of National Income Multiplier Keynes Paradox of Thrift The Accelerator Unemployment Inflation The Balance of Payments Devaluation and Revaluation Appreciation and Depreciation Equilibrium in Foreign Exchange Market Determinants of Capital Account Interest Parity Condition Current Account Deficit Economic Growth Exogenous Growth Theory Endogenous Growth Theory Macro Economic Issues and Their Inter-Relationship Fiscal Policy Concept of Money Monetary Policy Money Market Equilibrium Goods Market Equilibrium Fiscal-Monetary Policy Interaction International Trade Problems of Lower Income Countries Development Strategies

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