LA1030: Introductory Economics

B.Tech.(Fractal Programme)
Credit-1
Course Description:
This course is designed to expose students to understand the basic concepts of economics.
The emphasis will be on how to think like an economist by knowing the basic principles of
economics. In the end of this course, students will learn the generic idea about the subject
which would eventually help them to understand the dynamics of any economy.
Course Outline:

Ten Principles of Economics

Thinking Like an Economist
The Market Forces of Supply and Demand
Elasticity and Its Application
Supply, Demand, and Government Policies
Consumers, Producers, and Efficiency of Markets
Measuring a Nations Income
Saving, Investment, and the Financial Systems

Evaluation Method:
Assessment 1 (50%), and Assessment 2 (50%)
Recommended Reading:
1. N. Gregory Mankiw., Economics: Principles and Applications, India edition by South
Western, Cengage Learning India Private Limited, 4th edition, 2007.
2. William A. McEachren and Simrit Kaur., Micro Econ: A South-Asian Perspective,
Cengage Learning India Private Limited, 2013.
Note: This course starts on September 08, 2016 and ends on September October 01, 2016.
I will randomly pick up any two classes and conduct the written examination for this course.