Economics Syllabus


Heilongjiang International University

Department of Applied Business Studies

# 1 , Room


Course Syllabus:



Lecturer: Octavius NC       .                   Semester: Fall Term 2011

E-mail:                   Office Hours: By Appointment    Call:



Course Description

This course examines the allocation of scarce resources and the economic reasoning used by people as consumers, producers, savers, investors, workers, voters, and as government agencies. Key elements include the study of scarcity, supply and demand, market structures, the role of government, national income determination, money and the role of financial institutions, economic stabilization, and trade.



Economics 8th edition by David Begg


Instructional Methods:

All English skills, writing, reading, listening, and speaking, are required in class. So, the students will have chanced to practice all integrated skills through class instruction, individual or group discussion and presentation, writing ,group activities, term project presentation, team building business skills. Students are expected to read all assigned materials prior to participating in class.

As the schedule was set, all students need to do the assignments every week, both in group and individual. Those assignments such as class discussions, class participations, class homework, quizzes. The homework will be assigned in class.


Teaching Equipments:

Power Point

Video and Audio Clips if available

Articles from English Business Newspaper / Internet




50%  Homework , Projects , Attendance and Presentations

50 % Coursework & Final

Total: 100%




It will be posted soon by your teacher.


Course Schedule



August 25

Ø      Course preview

Ø      Class activities

Ø      Explain grading system and Coursework



August 28


Seminar and Discussion #1




September 1

Economics and the Economy

Ø      Economics issues

Ø      Scarcity and competing use of resources

Ø      Case


September 4


Seminar and Discussion #2




September  8

Economics and the Economy (cont…)

Ø      Review

Ø      The role of the market

Ø      Positive and normative

Ø      Micro and macro

Ø      Case


September 11


Seminar and Discussion #3





September 15

Tools of Economic Analysis

Ø      Economic data

Ø      Index Numbers

Ø      Nominal and real variables

Ø      Economic Models

Ø      Diagrams and lines


September 18


Seminar and Discussion #4






September 22


Demand , Supply & Market

Ø      The market

Ø      Demand supply and equilibrium

Ø      Demand and supply curves

Ø      Behind the demand curve

Ø      Shifts in the demand curve

Ø      Shifts in the supply curve

Ø      Behind the supply curve

Ø      Case Studies


September 25


Seminar and Discussion #5



September 29


National Holiday



October 2


National Holiday



October 6


National Holiday



October 9


Seminar and Discussion #6




October 13

Demand , Supply & Market( cont…)

Ø      Review

Ø      Free market and price controls

Ø      What ,how and for whom

Ø      Case problem



October 16


Seminar and Discussion #7




October 20

Elasticities of Demand and Supply

Ø      The price responsiveness of demand

Ø      Price,quantity demanded and total expenditure

Ø      Short run and long run

Ø      Case problems


October 23


Seminar and Discussion #8





October 27

Elasticities of Demand and Supply ( cont…)

Ø      The cross price elasticity of demand

Ø      The effect of income on demand

Ø      Inflation and demand

Ø      Elasticity of supply

Ø      Tax payment



October 30


Seminar and Discussion #9




November 3

Consumer Choice and Demand Decisions

Ø      Demand by a single consumer

Ø      Adjustment to income changes

Ø      Adjustment to price changes

Ø      Case problems


November 6



Seminar and Discussion #10




November 10


Consumer Choice and Demand Decisions ( cont…)

Ø      The market demand curve

Ø      Complements and substitute

Ø      Case problems



November 13


Seminar and Discussion #11




November 17

Introducing Supply Decisions

Ø      Business organization

Ø      A firm’s accounts

Ø      Firms and profit maximization

Ø      Corporate finance and corporate control


November 20


Seminar and Discussion #12




November 24

Introducing Supply Decisions ( cont…)

Ø      The firm’s supply decision

Ø      Marginal cost and marginal revenue

Ø      Marginal cost and marginal revenue curves

Ø      Case problems



November 27


Seminar and Discussion #13




December 1

Cost and Supply

Ø      Input and output

Ø      Cost and the choice of technique

Ø      Long run total,marginal and average costs

Ø      Returns to scale

Ø      Average cost and marginal cost


December  4


Seminar and Discussion #14





December 8

Cost and Supply ( cont…)

Ø      The firm’s long run output decision

Ø      Short run costs and diminishing marginal returns

Ø      A firm’s output decision in the sort run

Ø      Short run and long run costs

Ø      Case problems



December 11


Seminar and Discussion #15





December 15

Macroeconomics Studies

Introduction to macroeconomics

Ø      The big issues

Ø      The facts

Ø      Overview

Ø      National income accounting

Ø      What GNP measures


December 18


Seminar and Discussion #16





December 22

Macroeconomics Studies


Ø      The labour market

Ø      Analysing unemployment

Ø      Explaining changes in unemployment

Ø      Cylical fluctuations in unemployment

Ø      The cost of unemployment


December 25


Seminar and Discussion #17



December 29