Week | Topic | Learning goals and objectives | ||
1 | Introduction Of Teaching Methods And Performance’s Expectations, Rules Of Discipline And Training Philosophy | |||
2 | Chapter 1 – Economic Science
· Introduction · Nature Of Economics · Methodology · Models · Ceteris Paribus · Descriptive Economics · Normative Economics · Economic Goals · Fallacy Of Competition · Post-Hoc Fallacy · Macroeconomics · Microeconomics · Graphs · Direct Relationship · Inverse Relationship Chapter 2 – Economic Problem · Introduction · Unlimited Wants · Necessities · Scarce Resources · Labor · Land · Capital · Entrepreneurial Talents · Production Possibilities Curve · Law Of Increasing Costs · Efficiency · Economic Growth |
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3 | Chapter 3 – Demand And Supply
· Introduction · Market · Demand · Law Of Demand · Law Of Demand Resources · Income Effect · Substitution Effect · Demand Graph · Market Demand · Demand Determinants · Inferior Goods · Price Of Related Goods · Complementary Goods · Substitute Goods · Quantity Demanded · Supply · Law Of Supply · Law Of Supply Reasons · Supply Graph · Supply Determinants · Quantity Supplied · Equilibrium · Shortage · Surplus · Indifference Curve · Marginal Rate Of Distribution · Budget Line · Point Of Urgency · Derivation Of Demand |
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4 | Chapter 4 – Mixed Capitalism
· Mixed Capitalism · Legal Framework · Antitrust Legislation · Income Redistribution · Spill Over Costs And Benefits · Public Goods · Stabilization · Capitalism · Premises Of Capitalism · Competition · Market Economy · Division Of Labor · Circular Flows · Invisible Hand · Private Sector · Functional Distribution Of Income · Personal Distribution Of Income · Income Disposition · Business Organization · Sole Proprietorship · Partnership · Corporations · Public Sector · Government Expenditures · Government Revenues · Tax Avoidance · Benefit Received · Ability To Pay · Progressive Tax · Tax Incidence |
· Understand Mixed Capitalism And The Legal Framework Including Antitrust Legislation
· Analyze Income Distribution And Spill Over Costs And Benefits · Understand Public Goods, Stabilization And The Meaning Of Capitalism Including Its Premises · Compare Competition And Market Economy And Divison Of Labor · Assess The Importance Of Circular Flows And Invisible Hand And The Private Sector · Comprehend The Functional Distribution Income And Personal Distribution Income And Income Disposition · Define Business Organization And How Differ From Public Sector · Comprehend The Difference Between Government Expenditures And Revenues · Define The Role Of Taxes In Terms Of Tax Avoidance, Benefit Received, Ability To Pay, Progressive Tax And Tax Incidence |
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5 | Chapter 5 – National Income Accounting
· Introduction · National Income Accounting · Gross National Product · Gross Domestic Product · Intermediate Goals · Value Added · Expenditure Approach · Personal Consumption Expenditure · Gross Private Domestic Investment · Capital Consumption Allowance · Net Investment · Government Purchases · Net Exports · Income Approach · Net National Product · National Income · Indirect Business Taxes · Personal Income · Transfer Payments · Disposable Income · Real GDP · Price Index |
· Comprehend The Terms Of National Income Accounting And The Difference Between GNP And GDP
· Clarify The Intermediate Goals And Value Added Concepts Together With The Understanding Of Expenditure Approach · Identify The Role Of Personal Consumption Expenditure And The Meaning Of GPDI And GCA · Assess The Meaning Of CCA And Net Investment Along With Government Purchases And Net Exports · Determine The Significance Of Income Approach, NNP And National Income And Its Difference With Other Types Of Incomes (Personal, Disposable And Others) And The Concept Of Indirect Business Taxes · Explain The Difference Between Real GDP And PI |
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6 | Chapter 6 – Business Cycle
· Introduction · Business Cycle · Recession · Postponable Durable · Unemployment · Frictional Unemployment · Structural Unemployment · Cyclical Unemployment · Rate Of Unemployment · Discouraged Workers · Natural Rate Of Unemployment · Costs Of Unemployment · Inflation · Deflation · Demand-Pull Inflation · Cost-Push Inflation · Measuring Inflation · Inflation Redistribution Effect · Real Income · Anticipated Inflation · Inflation Output Effect · Hyperinflation |
· Understand The Cycle Of Business And Recession
· Assess The Meaning On Postponable Durable · Explain The Concept Of Unemployment And The Difference Of Frictional, Structural And Cyclical Unemployment · Identify The Reason Why Workers Are Discouraged And The Meaning Of Natural Rate Of Unemployment Along With Costs Of Unemployment · Identify The Role Of Inflation In The Economy Along The Terms Of Inflation, Deflation, Demand Pull Inflation, Cost Push Inflation · Know How To Measure Inflation And Its Redistribution Effect · Understand The Meaning Of Real Income, Anticipated Inflation And The Output Effect On Inflation And The Reasons Of Hyperinflation |
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7 | Chapter 7 – Classical Keynesian Controversy
· Classical Theory · Say’s Law · Classical Money Market · Price And Wage Flexibility · Involuntary Unemployment · Classical Keynesian Controversy · Keynesian Saving-Oriented Plans · Keynesian Price-Wage Rigidity · Aggregate Demand · Real Balance Effect · Aggregate Supply · Classical Range · Keynesian Range · Intermediate Range · Aggregate Demand Policies · Supply Side Policies |
· Identify The Classical Theory Of Keynes And Compare The The Say’s Law
· Explain The Difference Between Classical Money Market, Price And Wage Flexibility And Involuntary Unemployment · Identify The Reason Of Classical Keynesian Controversy And The Difference Between Keynesian Saving Oriented Plans And Price Wage Rigidity · Determine The Meaning Of Aggregate Demand, Real Balance Effect And Aggregate Supply · Analyze The Concept Of Classical Range, Keynesian Range And Intermediate Range · Value The Meaning On Aggregate Demand Policies And Supply Side Policies |
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8 | Week 8 Mid Term Written Test Quiz 20% (Covering academic program covered from Week 1 to 7) | |||
9 | Chapter 8 – Keynesian Employment Theory
· Keynesian Employment Theory · Aggregate Expenditures · Aggregate Expenditure Components · Consumption · Consumption Determinants · Consumption Stability · Average Propensity To Consume · Saving · Average Propensity To Save · Investment Determinants · Investment Stability · Aggregate Output · Keynesian Equilibrium · Leakage · Injection · Leakage-Injection Equilibrium · Multiplier Effect · Multipliers · Complex Multiplier · Paradox Or Thrift · Recession Gap · Inflationary Gap
Chapter 9 – Fiscal Policy · Fiscal Policy · Government Spending Increase · Balanced Budget Multiplier · Keynesian Fiscal Policy · Fiscal Policy Effectiveness · Crowding Out Effect · Fiscal Policy Lags · Non-Discretionary Fiscal Policy · Automatic Stabilizer · Full-Employment Budget · Fiscal Drag · Budget Deficit · Budget Philosophy · Public Debt · Fiscal Policy And Politics · Net Export Effect · Index Of Leading Indicators |
· Understand The Theory Of Unemployment Of Keynes
· Define The Terms Of Aggregate Expenditure And The Components Of Expenditures · Determine The Terms Of Consumption And Determinants And Stability Of Consumption Along With Consumption Stability · Evaluate The Difference Between Average Propensity To Consume Or To Save · Assess The Determinants Of Investment And Investment Stability · Clarify The Aggregate Output And How It Can Be Linked To The Keynesian Equilibrium · Define The Meaning Of Leakage, Injection And Their Equilibrium · Verify The Concept Of Keynesian Multipliers, Its Effect On The Economy And What Is Complex Multiplier · Identify The Terms Of Paradox Or Thrift And The Difference Between Recession And Inflationary Gaps · Explain The Concept Of Fiscal Policy And Its Relation To Government Spending Increase · Determine The Role Of The Balanced Budget Multiplier And How It Is Applied To Keynesian Fiscal Policy To Determine Fiscal Policy Effectiveness · Verify The Concepts Of Crowding Out Effect And Fiscal Policy Lags Along With Non-Discretionary Fiscal Policy · Understand The Automatic Stabilizer And The Link With Fiscal Policy · Assess The Fiscal Drag And Budget Deficit And Philosophy Related To Public Debt · Evaluate The System And Difference Between Fiscal Policy And Politics · Review The Terms Of Net Export Effect And The Index Of Leading Indicators |
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10 | Chapter 10 – Money
· Money · Functions Of Money · Demand Of Money · Money Supply · Currency · M1 · Token Money · Checkable Deposits · M2 · M3 · Near Money · Backing Of Money |
· Assess The Role Of Money And Its Function
· Understand How Money Is Demanded And Supplied · Determine The Role Of Currency And What Are M1, M2 And M3 · Define Token Money And Checkable Deposits · Explain The Concepts Of Near Money And Backing Of Money |
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11 | Chapter 11 – The Federal Reserve System
· Monetary Policy · Federal Reserve System Function · Federal Reserve System · Federal Reserve Banks · Banking |
· Understand The Role Of The FDS
· Assess Its System And Function And Banking Network |
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12 | Chapter 12 – Monetary Policy
· Monetary Creation · Monetary Policy · Banks · Check Cashing · Money Creation · Money Cancellation · Required Reserves · Required Reserve Ratio · Monetary Multiplier · Government Securities · Monetary Policy Tools · Open Market Operations · Discount Rate · Tight Money Policy · Easy Money Policy · Minor Monetary Policy Tools |
· Understand The Concepts Of Monetary Policy And Creation, Cancellation Of Money
· Realize The Role Of Banks And Bank Reserve And Reserve Ratio · Explain The Role Of Dentary Multiplier And Government Securities Along Monetary Policy Tools · Assess The Different Types Of Open Market Operations And Clarify The Discount Rate’s Meaning · Evaluate The Tight Money Policy Like Easy Money Policy And Minor Monetary Policy Tools |
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13 | Chapter 13 – Monetary Policy Controversy
· Keynesian View Of Monetary Policy · Monetary Policy Shortcomings · Monetary Policy Asymmetry · Monetary Policy Dilemma · Monetary View Of Monetary Policy · Quantity Of Money Equation · Velocity · Monetarist Critique · Monetarist Recommendation · Velocity Instability |
· Realize The Meaning Of The Keynesian Monetary Policy And Its Shortcomings, Asymmetry And Dilemma
· Assess The Monetary View Of Monetary Policy · Analyze The Quantity Of Money Equation And The Velocity And Velocity Stability Of Money · Evaluate The Monetarist Critique And Recommendation |
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14 | Week 14 Pre Final Exam Written Test 20% (Covering academic program covered from Week 8 to 12)
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15 | Chapter 14 – Unemployment Versus Inflation
· Introduction · Phillips Curve · Phillips Curve Shift · Stagflation · Inflation Expectation · Acceleration Hypothesis · Rational Expectations · Labor Cost Productivity · Market Policies · Income Policies · Supply Side Economics · Laffer Curve |
· Understanding The Phillips Curve And The Curve Shift
· Assess The Concepts Of Stagflation And Inflation Expectation · Verify The Hypothesis On Acceleration And Rational Expectations · Assess The Labor Cost Productivity And Its Relations To Market Policies And Income Policies · Analyze The Economics Of Supply Side And The Role Of Laffer Curve |
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16 | Chapter 15 – Economic Growth
· Economic Growth · Productivity Growth And Decline · Sources Of Growth · Savings Rate · Law Of Diminishing Return · Malthus Economic Growth Desirability |
· Understand Economic Growth And Growth And Decline Of Productivity
· Assess Source Of Growth And Savings Rate · Verify The Law Of Diminishing Return · Explain The Theory Of Malthus And The Concept Of Economic Growth Desirability |
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Week 16 Homework and research 10% (Homework 5% + Research 5%)
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17 | Week 17 Pre Final Exam Written Test 20% (Covering academic program covering from Week 13 to 16)
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18 | END OF SEMESTER |
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