| 1. Week |
(Introduction and Basic Concepts) Concept Economics; scarcity, choice, endless needs, efficiency, opportunity cost, a rational pattern of behavior, normative economics, positive economics; methods in economics, economic systems |
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| 2. Week |
Consumer Theory) Benefits, benefits measurability, kardinalist / ordinalist benefits, the marginal benefit, total benefit, budget line, consumer equilibrium and exchange, Price consumption curve, income and substitution effects (Hicks Slutsky approach), income consumption curve, the barrier curves and obstacles laws, the individual demand deriving function |
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| 3. Week |
(Production and Cost Theory) Production concept and production functions, the very short term production function, the production function and the law of diminishing short-term, long-term returns to scale production function and |
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| 4. Week |
(Demand and Supply Analysis) Demand and the demand function, individual and market demand curves, demand factors determining demand change and shift in demand, price elasticity of demand, the income elasticity of demand, cross-price elasticity of supply and the supply function, supply factors determining |
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| 5. Week |
(Market equilibrium) Market definition, market types, market equilibrium (supply-demand equation), stable in unstable equilibrium, market equilibrium, the change in producer and consumer surplus, market regulation (ceiling price, the base price, taxation and subsidies) Cobbweb theorem, King Law |
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| 6. Week |
(Market Types) Fully competitive market, the basic assumptions of the market, short-run equilibrium, long-run equilibrium, the industry supply curve and costs, the industry supply curve flexibility; Monopoly: Monopoly definition and sources |
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| 7. Week |
(Factor Markets and Welfare Economics) Labor demand curve, the value of the marginal product of labor, marginal input cost of labor, the labor supply curve of labor market equilibrium; Partial equilibrium transition from the general equilibrium |
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| 8. Week |
Market Failure approaches |
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| 9. Week |
(Basics of Kava. & Macro Measurement of Size) Concept of Macro Economics: Macro-economics - micro-economic differences; basic research areas of macroeconomics, macro economic methodology; Measurement of Gross Domestic Product (GDP) |
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| 10. Week |
Classical Macroeconomics and Keynes'y Simple Model) Classical Macro-economic Approach: The basic assumptions of classical economics, Product, savings-investment identity, Classical theory of interest, Total planned expenditure |
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| 11. Week |
(Money Market Analysis) Definition of Money, functions and monetary systems; classical money demand: Quantity Theory (Yale-Fisher Approach, Cambridge Approach), Keynes' theory of money demand |
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| 12. Week |
(Keyses'y Macro Economy Model) Multiplier Mechanism: investment multiplier, transfer spending multiplier, the tax multiplier, government spending multiplier, net foreign trade multiplier |
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| 13. Week |
(Inflation-Unemployment Relationship Product) The causes of inflation and inflation, monetary and fiscal policy effects on inflation; Adaptive expectations and Rational Expectations under the assumption of anti-inflationary policy |
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| 14. Week |
Aggregate Demand-Aggregate Supply Model) Total demand curve: the curve of derivation (Keynesian approach, Pigou approach), slope and position; simultaneous effects of Monetary and Fiscal Policy |
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