Introduction to Economics 2400-PP1WDEa-OG

The course covers the following topics:

1. The Nature of Economics. The Problem of Economizing.
2. Methodology of Economics.
3. Rational choice and consumer behavior.
4. Individual markets: Demand and Supply.
5. Economic Systems.
6. Theory of firm.
7. Market Failures and Externalities. The Role of Government in the Economy.
8. Macroeconomics - Basic Concepts.
9. Economic Growth and Economic Development.
10. Money and Financial Market.
11. International Trade.
12. The Economics of Developing Countries.
13. Summary.

Type of course

general courses

Prerequisites (description)

A student should be able to interpret graphs and to analyse economic problems using basic mathematics

Course coordinators

Beata Łopaciuk-Gonczaryk

Learning outcomes

Knowledge:
Upon the lecture completion a student:
- knows the basic economic definitions like demand, supply, GDP, balance of payments, etc.
- understands how the market system works (at the micro, and macro levels); how prices influence the production and distribution of goods and services; where the system fails and what is an economic role for government.
- knows basic concepts related to economic growth and economic development, international trade, economics of developing countries and transition economies.

Skills:
Upon completion of the course a student:
- is able to apply basic economic reasoning to explain the main problems of the Polish and global economy.
- is able to analyse basic economic concepts using mathematics.
- is able to provide an explanation for economic problems like market failures, etc.

Assessment criteria

Written exam

Bibliography

Required textbook:
C.R. McConell, S.L. Brue, Economics, S. Flynn, McGraw-Hill Irwin or elder edition:

C.R. McConell and S.L. Brue, Economics, McGraw-Hill Irwin

Additional literature (to be supplemented at the classes):

* G. S. Becker, The Economic Approach to Human Behavior, The University of Chicago Press, Chicago 1976
* D. Begg, S. Fischer and R. Dornbusch. Economics, 6th ed., Mcgraw Hill 2000
* R. H. Coase, The nature of the firm, Economica, 1937, 4 (16): 386-405
* F. A. Hayek, The use of knowledge in society, American Economic Review, (1945), 35 (4): 519-530
* P. Krugman, M. Obsfeld, International Economics, Addison Wesley, New York 2000, ch. 6
* A. Kukla-Gryz, International Trade and Air Pollution: A Decomposition Analysis", Ecological Economics, 2009, 68(5):1329-1339
* T. Mayer , Truth Versus Precision in Economics, Edward Elgar 1993
* N.G. Mankiew, Principles of Economics, 3rd ed., Thompson 2004
* D. Rodrik, One Economics, Many Recipes. Globalization, Institutions, and Economic Growth, Princeton University Press 2007
* J. Stiglitz, Globalization and its discontents, W.W. Norton & Company, New York 2002, ch. 1, 2, 3
* J. E. Stiglitz, Economics of the Public Sector, Norton&Co, New York-London 2000
* O. E. Williamson, The Theory of the Firm as Governance Structure: From Choice to Contract, Journal of Economic Perspectives, 2002, 16 (3): 171–195

Additional information

Information on level of this course, year of study and semester when the course unit is delivered, types and amount of class hours - can be found in course structure diagrams of apropriate study programmes. This course is related to the following study programmes:

Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system:

Description of 2400-PP1WDEa-OG in USOSweb