AMERICAN INTERNATIONAL UNIVERSITY BANGLADESH

Faculty of Arts and Social Sciences

Department of Economics
EEE/CS/CSSE Program
UNIFIED COURSE OUTLINE
Term: Summer 2018-19
I. Course Code: 01174,
II. Title: Principles of Economics
III. Credit: 2 Credit Hours
IV. Faculty: DR. A. K. MONAW-WAR UDDIN AHMAD, Room:41004

V - Course Description:
Upon completion of this course students should be able to understand the importance of economics in
everyday business decision-making, differentiate between microeconomics and macroeconomics and
its implications for business organizations. Students will also understand fundamental economic
principles, appreciate supply and demand analysis in market systems, understand short and long term
cost curves, explain price and output decisions of a firm in various markets, learn economic reasons
for regulations and build an awareness of related current issues, the aggregate performance of the
economy with a focus on the determination of particular variables such as national income, the rate of
unemployment, the rate of inflation, and the level of interest rates. Government fiscal and monetary
policies and other relevant topics will be discussed in the light of day-to-day business decision-making
process.

VI – Objectives:
Introduce students to the tools economists and policy makers use to understand how the market
system works and how the economy as a whole functions and give insights into the decision-
making policies of the governments.
Prepare students to solve day-to-day business problems pertaining to general economic
operations and play an important role in business decision-making.

Mission: AMERICAN INTERNATIONAL UNIVERSITY (AIUB) envisions to promote and create a

learning environment through state-of-the-art facilities and tools; highly competent faculties and stuff;
expand frontier of research based knowledge; and international standards supportive of the new
horizons in the diverse fields of disciplines and the enunciated development perspectives of the
country.
Vision: AMERICAN INTERNATIONAL UNIVERSITY (AIUB) is committed to provide quality and
excellent computer-based academic programs responsive to the emerging challenges of the rapid
technological advancements. The AIUB is dedicated to nurture and develop world class professionals
imbued with strong sense of ethical values and competence ready to face the competitive world of
business, service and employment.

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 VII – Topics to be Covered
TOPICS Specific Time Suggested Teaching
Objective(s) Frame Activities Strategy(s)
Overview of the course contents, To elucidate the Classes will be Each class lecture will
requirements, grading system and importance of the spent with be of 90 minutes
other policies. course and overview power point duration, totaling 14
the course outline; presentations lectures.
Discussion of the vision, mission To familiarize and and followed by
and goals of the AIUB; understand the vision discussion.
and mission of the
university
1.Introduction: Definition,Explain how producer 1st -2nd
Opportunity cost, Production has to trade off in week
Possibility Frontier (PPF), Circularproduction choices
flow diagram, 10 principles of
economics
2.Supply and Demand: How Explain how price is 2nd -3rd Students are Any unsolved
market works—Demand curve and determined week expected to read problem/quarry during
demand shifters, Supply curves and all assigned the class hours will be
supply shifters, Equilibrium of material before sorted out in the office
supply and demand it is scheduled hours.
for discussion
in the class

3.Elasticity and its application: To look more closely 3rd- 4th Quizzes and exams
Price elasticity of demand and in analyzing supply week will consist of multiple
supply, determinants of price and demand choice, short-answer
elasticity and problem-solving
type questions.
4.Production and Cost The students would be 4th & 5th Submit written
able to grasp the week assignments,
different concepts of participate in
production function, class
total, average and discussions and
marginal products, honor all due
law of diminishing dates for
returns, returns to submitting
scale. home
assignments and
sitting for
exams
Mid Term Examination 6th week
Introduction to Macroeconomics To introduce students 7th Students are No extra or make up
with the basic week encouraged to exams will be
macroeconomic work in groups arranged for any
Measuring the macro-economy concepts. for the course as missing quiz.
To acquaint students a whole.
with different ways of
measuring GNP,
GDP, NNP, Nominal

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 vs. Real GNP, GDP
deflator
Measuring the cost of living To help students to 8th week Assignments turned in
use the overall price late will not be
level to monitor accepted.
developments in the
economy as a whole.
Unemployment & its natural rate Unemployment, 8th-9th
Measuring Week
unemployment rate,
Types of
unemployment, Impact
of unemployment,

Production and Growth Identify the 9th

determinants of week
productivity. How
Public Policies affect
economic growth.
Expose students to 10th
Saving, Investment and the
type of Financial Week
Financial System
Systems and their
functions.
Learn the types and 11th
The Monetary System functions of money. Week
Understand how
central bank controls
the Money Supply in
an economy.
Final Exam 12th
week
* The above schedule & outline is a guide to help you know what to read and when we will have quiz and
assignments. The Instructor reserves absolute rights to change or modify this schedule as needed. Please use
this schedule to stay current in your readings.
VII. Course Requirements
 No extra/makeup exams will be arranged for students who abstain from appearing at the
tests on prescribed dates.
 Academic misconduct/dishonesty will be met with a score of zero on the particular
exam/assignment/ quiz and probably a grade of F in the course.
Classroom Management:
 Regular attendance is extremely important to understand all materials.
 The students must turn off their mobile during the class
 Arriving late and leaving early is strongly discouraged

Marks Distribution of the course

The Final Grade will be based on the following scheme.
MID TERM FINAL TERM
Distribution Marks (%) Distribution Marks (%)
Attendance 10% Attendance 10%
Assignment 20% Assignment 20%
Quizzes 20% Quizzes 20%

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 Midterm Exam 50% Final Exam 50%
Total 100% Total 100%
Final Grand Total Grade = 40% (of Mid Term) + 60% (of Final Term)=100%
Note: Grades will be assigned in accordance with the AIUB grading system. Grading breakdown may
be modified subject to our progress through out the semester.

IX. Textbook / Reference:

Required: Mankiw, Gregory, 2003, Principles of Economics, 6th Edition

Reference:
1. Samuelson and Nordhaus, Economics
2. C. R. McConnel & S. L. Brue, Macroeconomic, 17th Ed, McGraw-Hill.

Good Luck