On average each topic will be covered in every two lectures. 

I. Microeconomics 

1. Introduction to Economics 

2. Demand, Supply, and Market Equilibrium 

3. Elasticity 

4. Consumer Choice and Demand Curve: Utility Theory 

5. Firms and Production: Cost and Profit Functions 

6. Perfect Competition and Supply Curve 

7. Imperfect Competition: Monopoly, Oligopoly, and Monopolistic Competition 

8. Market Failure, Externalities, and Public Goods 

II. Macroeconomics 

1. GDP: Measuring Total Production and Income 

2. Long-Run Economic Growth: Sources and Policies 

3. Output and Expenditure in the Short Run 

4. Aggregate Demand and Aggregate Supply Analysis 

5. Money, Banking, and the Federal Reserve System 

6. Monetary Policy and Fiscal Policy 

7. Labor Markets, Unemployment, and Inflation 

8. Macroeconomics in an Open Economy 

9. The International Financial System

Expected workload per week:

3 In-class Hours

4.5 Outside-of-class Hours

The teaching assistant will lead weekly discussion sessions and grade homework and exams.

Your class participation is required. There will be a series of problem sets. You are strongly encouraged to work together with classmates when solving these assignments, but complete and turn in your own. Note that no late assignments will be accepted. More details about the assignments will be available in the first lecture.

The grade will be based on class participation (5%), problem sets (15%), two in-class quizzes (20%), a midterm exam (30%) and a final exam (30%).

? Michael Parkin (2022) Economics 14th edition Pearson. 

? Daron Acemoglu, David Laibson, and John List (2018) Economics, 2nd edition, Pearson. 

? Paul Krugman and Robin Wells (2018) Economics 5th edition Worth Publishers.