Introduction to Economic Sciences 2400-ZEWW916

Preliminary program:

Week Dates Monday Friday
1
Lecture: 19.02
Seminar: 23.02 Module 1: Organizational issues. What is economics about? Why to study economics? Characteristics of the main economic agents.
Module 2: MICROECONOMICS: Consumer behavior.
Module 3: MICROECONOMICS: Practice and examples: Analyzing consumer behavior.

2
Lecture: 26.02
Seminar: 1.03 Module 1: MICROECONOMICS: Consumer behavior cont.
Module 2: MICROECONOMICS: Basic demand-supply model.
Module 3: MICROECONOMICS: Consumer behavior cont. Practice and examples.

3 Lecture: 4 .03 Seminar: 8.03 Module 1: MICROECONOMICS: Basic demand-supply model cont.
Module 2: MICROECONOMICS: Substitution and income effects. The concept of elasticity.

Module 3: MICROECONOMICS: Practice and examples: understanding the demand-supply model.

4
Lecture: 11.03-
Seminar: 15.03 Module 1: MICROECONOMICS: The theory of the firm.
Module 2: MICROECONOMICS: Profit maximization.
Module 3: MICROECONOMICS: Practice and examples: costs, revenues, and profit maximization

5 Lecture: 18.03- Seminar: 22.03 Module 1 & 2: MICROECONOMICS: Market structures: competition vs. monopoly
Module 3: MICROECONOMICS: Practice and examples: competition and monopoly

6 Lecture: 25.03-
Seminar: 27.03 (Wednesday) Module 1: MICROECONOMICS: Market structures: oligopoly
Module 2: MICROECONOMICS: Practice and examples: carters, price leadership model
Module 3: MICROECONOMICS: Practice and examples: oligopoly

7 Seminar: 5.04 NO CLASS MICROECONOMICS: Summary: Questions and answers
8
Lecture: 8.04
Seminar: 12.04 Module 1&2: TEST 1
MACROECONOMICS: Introduction and basic concepts. Circular flow diagram.
Module 3: TEST 1 REVIEW
9 Lecture: 15.04- Seminar: 19.04 Module 1: MACROECONOMICS: How to measure outcomes of an economic activity?
Module 2: MACROECONOMICS: Is it worth the same? The concept of inflation

Module 3:
MACROECONOMICS: Practice and examples: calculating GDP, GDP across countries, inflation rate, real vs. nominal GDP
10 Lecture: 22.04- Seminar: 26.04 Module 1: MACROECONOMICS: International Trade. The concept of comparative advantage
Module 2: MACROECONOMICS: Trade barriers Module 3: MACROECONOMICS: Practice and examples: historical trends, structure of the trade.

11
Lecture: 29.04 Module 1: MACROECONOMICS: Money and money market. The concept of exchange rate.
Module 2: MACROECONOMICS: Organizational issues: Students’ presentations.
NO CLASS
12
Lecture: 6.05
Seminar: 8.05 (Wednesday) Module 1 & 2: MACROECONOMICS: The role of the government: public vs. private goods
Module 3:
MACROECONOMICS: Practice and examples: public spending vs. taxes
13 Lecture: 13.05 Seminar: 17.05 Module 1: MACROECONOMICS: Economy in the long-run: economic growth.
Module 2: MACROECONOMICS: Exogenous shocks and their consequences in the long-run: basic AS-AD model.
Module 3:
MACROECONOMICS:
AS-AD model – practice exercises

14 Lecture: 20.05- Seminar: 24.05 Module 1: MACROECONOMICS: Labor market: basic concepts.
Module 2: Labor market: practice exercises Module 3:
MACROECONOMICS:
Summary: Questions and answers
15 Lecture: 27.05- Seminar: 29.05 (Wednesday) Module 1&2: Students’ presentations
Module 3: TEST 2

16 Lecture: 3.06- Seminar: 5.06 (Wednesday) Module 1: TEST 2 REVIEW
Module 2: Selected readings. Module 3: Organization of studies at UW.