ECO401 – INTRODUCTION TO ECONOMICS

Lesson No. Topics Page No.

Lesson 01 Introduction to Economics ……………………………………………. 01
Lesson 02 Introduction to Economics (Continued)………………………………. 04
Exercises 07
Lesson 03 Demand, Supply and Equilibrium Analysis……………...…………….... 10
Lesson 04 Demand, Supply and Equilibrium Analysis (Continued)……………..… 13
Lesson 05 Demand, Supply and Equilibrium Analysis (Continued)……………….. 16
Exercises 19
Lesson 06 Elasticities ……………………………………………………………... 26
Lesson 07 Elasticities (Continued)… ………………………………………............ 32
Lesson 08 Elasticities (Continued)……………………… ………………................. 34
Exercises 37
Lesson 09 Consumer Behavior: Consumption Side Analysis………………………. 40
Lesson 10 Consumer Behavior: Consumption Side Analysis (Continued)…………. 42
Lesson 11 Consumer Behavior: Consumption Side Analysis (Continued)…………. 44
Lesson 12 Consumer Behavior: Consumption Side Analysis (Continued)…………. 46
Exercises 48
Lesson 13 Producer Behavior: Production Side Analysis 53
Lesson 14 Producer Behavior: Production Side Analysis (Continued)……………... 56
Lesson 15 Producer Behavior: Production Side Analysis (Continued)……………... 58
Lesson 16 Producer Behavior: Cost Analysis………………………..……………... 60
Lesson 17 Revenue and Profit Maximization Analysis……………………………... 63
Exercises 66
Lesson 18 Profit Maximization Analysis (Cont) and Market Structures……………. 71
Lesson 19 Market Structures (Continued)…………………….…………………… 74
Lesson 20 Market Structures (Continued)…………………….…………………… 76
Lesson 21 Market Structures (Continued)…………………….…………………… 78
Lesson 22 Market Structures (Continued)…………………….…………………… 81
Exercises 84
Lesson 23 Market Structures (Cont) and Welfare Economics……………………… 90
Lesson 24 Welfare Economics (Continued)……………………………………….. 93
Exercises 96
Lesson 25 Introduction To Macroeconomics ……………………………….…….. 103
Lesson 26 Introduction To Macroeconomics (Continued)……………………..….. 106
Lesson 27 Introduction To Macroeconomics (Continued)…………..…………….. 110
Exercises 113
Lesson 28 Macroeconomic Data and National Income Accounting……………….. 117
Lesson 29 Macroeconomic Data and National Income Accounting (Continued)…... 120
Macroeconomic Equilibrium: The Determination of Equilibrium
Lesson 30 124
Income…………………………………………………………………
Macroeconomic Equilibrium: The Determination of Equilibrium
Lesson 31 128
Income (Continued)…………………………………………………….
Macroeconomic Equilibrium: The Determination of Equilibrium
Lesson 32 133
Income (Continued)…………………………………………………….
Exercises 136
Lesson 33 The Four Big Macroeconomic Issues And Their Inter-Relationships ….. 142
The Four Big Macroeconomic Issues And Their Inter-Relationships
Lesson 34 148
(Continued)… …………………………………………………………
 The Four Big Macroeconomic Issues And Their Inter-Relationships
Lesson 35 152
(Continued)… …………………………………………………………
The Four Big Macroeconomic Issues And Their Inter-Relationships
Lesson 36 154
(Continued.)… …………………………………………………………
The Four Big Macroeconomic Issues And Their Inter-Relationships
Lesson 37 158
(Continued)… …………………………………………………………
The Four Big Macroeconomic Issues And Their Inter-Relationships
Lesson 38 161
(Continued)… …………………………………………………………
The Four Big Macroeconomic Issues And Their Inter-Relationships
Lesson 39 165
(Continued)… …………………………………………………………
The Four Big Macroeconomic Issues And Their Inter-Relationships:
Lesson 40 170
Bilateral Relationship among the “Big Four” and Fiscal Policy………….
Exercises 177
Lesson 41 Fiscal Policy, Money and Banking……………………………………… 185
Lesson 42 Money, Central Banking and Monetary Policy………..………………… 189
Lesson 43 Money and Goods Market Equilibrium: IS-LM Framework…………..... 193
Exercises 198
Lesson 44 International Trade And Finance…………………….…………………. 203
Lesson 45 Problems of Lower Income Countries (LICs)………………...………… 207
Exercises 212