To illustrate the profit maximization in the long run To explain the type and

To illustrate the profit maximization in the long run

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To illustrate the profit maximization in the long run. To explain the type and characteristics long run industry supply curve. To explain the characteristics and the assumptions of monopoly market. To explain how levels of output and profit maximization is determined in the short run. To illustrate the profit maximization in the long run. To explain major 3 Lecture Class discussions Online learning LCD Power Point White Board/ Visualizer Grace et.al; Chapter 10 (pg. 113 -149 & 151 – 165) Arnold; Chapter 23 and Chapter 24 (pg.601 – 656) Case, Fair & Oster; Chapter 12 and 13 (pg. 285 - 323) 6
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WEEK TOPIC / SUB-TOPIC OBJECTIVES HRS METHOD TEACHING AIDS NOTES Perfect Competitive Firm and Monopoly (long run) 7.4 Price Discrimination: definition, type and conditions differences between perfect competitive and monopoly firm. To explain the basic concept of price discrimation in monopoly market. 7 (20/10/2019 24/10/2019) Chapter 8: Introduction to Macroeconomics 8.1 Macroeconomic Concern 8.2 The Component of the Macroeconomics 8.3 History of Macroeconomics 8.4 Macroeconomics Measurements (Variables) 8.4.1 Prices (Inflation): Definition, Measuring and the Effects. 8.4.2 Unemployment: Definition, Measuring, the Reasons, Types, and the Effects. To explain macroeconomic definition, concern and component. To explain the difference between the classical and Keynesian economists. To explain the consumer price index and the rate of inflation. To measure inflation using CPI. To explain the cause of Inflation. To explain the definition, the type, the reason and cause of unemployment. To distinguish unemployed, employed, labor force and population terms or definition. To measure unemployment rate. 3 Lecture Class discussions LCD Power Point White Board/ Visualizer Grace et.al; Chapter 18 (pg.257 – 266) Arnold; Chapter 6 (pg.147 – 165) Case, Fair & Oster; Chapter 20 (pg.441 – 453) and Chapter 22 (pg. 473 – 488) Unemployment and Inflation: Grace et.al; Chapter 20 (pg. 289 – 307) 7
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WEEK TOPIC / SUB-TOPIC OBJECTIVES HRS METHOD TEACHING AIDS NOTES MID-SEMESTER BREAK (25/10/2019 - 2/10/2019) 8 (3/11/2019 7/11/2019) Chapter 9: Measuring National Income 9.1 Gross Domestic Product (GDP) 9.2 Gross National Product (GNP) 9.3 Limitation of GDP Concept 9.4 Net National Product 9.5 Personal Income 9.6 Disposable Income 9.7 National Income Accounting 9.7.1 Expenditure Approach 9.7.2 Income Approach 9.7.3 Production (Value- Added) Approach 9.8 Real GDP and Nominal GDP To distinguish the concept of GDP and GNP. To explain the limitation of GDP concept. To distinguish between personal income and disposable income. To explain the three methods of calculating national income. To explain the concept of real GDP and nominal GDP. 3 Lecture Class discussions Online learning LCD Power Point White Board/ Visualizer Grace et.al; Chapter 19 (pg.269 – 287), Arnold; Chapter 7 (pg.166– 189) Case, Fair & Oster; Chapter 21 (pg. 455 – 472) 9 & 10 (10/11/2019 21/11/2019) Chapter 10: National Income Equilibrium and Aggregate Expenditure (2 and 3 Sectors Economy) 10.1 Consumption and Saving Functions 10.2 APC, APS, MPC and MPS 10.3 National Income Equilibrium
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