《Economics》Syllabus

Course Number:      2110050860

Course Name:               Economics

Instructors:                    Wang Yang

Required Text:       Western Economics (Essential), 3rd Edition, Western Economics Editorial Group, Higher Education Press,2021

Course Description:      This course is a required course for marketing professional platforms. This course uses the western economic theory logic and way of thinking to reveal the basic laws of market economy operation, and cultivates and enhances students' ability to analyze related issues in the economic field by using economic principles, so as to serve for learning and applying financial professional knowledge and skills. This course uses the western economic theory logic and thinking mode to reveal the basic laws of market economy operation, as well as the conditions, mechanisms and means for manufacturers to maximize profits, residents to maximize utility, government agencies to strengthen and improve macro-control, achieve full employment, and ensure the benign operation of the national economy. Through the teaching of this course, students should master the basic concepts, basic principles, basic methods and their theoretical system in economics, cultivate and enhance their ability to analyze related problems in the economic field by using economic principles, gradually cultivate their dialectical thinking and mathematical logic thinking ability, and enhance their ability to make empirical analysis of economic problems and phenomena, and enhance their professional moral awareness. At the same time, it lays a solid foundation for learning other courses of economics.

Credit/Teaching Hours

Outline of UG CPC Topics Covered in this Course:           (4Credit/64Hours)

I. Introduction to Economics                                        2 Teaching hours

-The research object of economics

-Research methods of economics

-The basic content of economics                                                                     

II. Demand, Supply and Equilibrium Prices                          6.5 Teaching hours

-Requirements

-Supply

-Elasticity

-Market equilibrium

-Supply and demand application case                                                              

III Consumer Choice                                               4 Teaching hours

-Utility theory

-Indifference curve

-Budget constraint line

-Consumer equilibrium                                                                                     

IV. Production and Costs of Enterprises                            12.5 Teaching hours

-The meaning of production function

-Short-term production function

-Long-term production function

-Short-term cost function

-Long-term cost function

V. Perfectly Competitive Markets                                  4.5 Teaching hours

-Differentiation of four market types

-The meaning of perfect competition market

-The short-term equilibrium of perfectly competitive market

-The long-term equilibrium of perfectly competitive market

VI. Imperfect Competitive Markets                                 5.5 Teaching hours

-The formation conditions of complete monopoly and the short and long term equilibrium of the firm

-Short-term and long-term equilibrium of monopolistic competitors

-Oligarchy and game theory

VII Factors of Production and their Income                           3 Teaching hours

-Perfect competition and factor demand

-Labour and wages

-Land and land rent

-Capital and interest

VIII Market Failures and Microeconomics Policy                       2 Teaching hours

-Monopoly

-Externalization

-Public Goods and public resources

-Information is incomplete and asymmetrical

IX Basic macroeconomic indicators and their measurement              5 Teaching hours

-Gross Domestic Product and its measurement

-Price level and its measurement

-Unemployment and its measurement

X. Decisions of National Income - Income Expenditure Model            6 Teaching hours

-The decision of equilibrium national income

-Consumption theory and other consumption theory

-Investment theory

-Government demand

-Equilibrium income determination and multipliers in a four-sector economy

XI. National Income Decisions in the short Run -IS-LM Model           5 Teaching hours

-Product market equilibrium

-Equilibrium of money market

-IS-LM model

XII. Unemployment, Inflation and the Business Cycle                   3 Teaching hours

-Unemployment

-The impact of unemployment and Okun's Law

-The meaning and measurement of inflation

-Causes and effects of inflation

-Phillips curve

XIII. Macroeconomic Policy                                         5 Teaching hours

-Macroeconomic policy objectives

-Financial policy

-Monetary policy

-Two kinds of policy limitations and coordination

        Total (Teaching Hours)                                                                         64  

Summary of UG CPC Topics Covered in this Course:                   (64Teaching Hours)