Principles of Economics II

Course Code: 
ECON1012

The objective of this course is to take students who have had only an intuitive and descriptive introduction to basic economic concepts and acquaint them with the use of formal economic models at an elementary level.  The students will be introduced to simplified models of microeconomics and macroeconomics.  Under the heading of micro-economics, theories of consumer and firm behaviour are introduced along with an explanation of the various types of market structures.  For macro-economics, the course presents theories of long run economic growth and short run economic fluctuations.

The course bridges the gap between the conceptual introduction in Principles of Economics I and the more rigorous and structured theories of the intermediate courses offered at level II.  This course serves two purposes.  It provide an opportunity for the non-economics major who has enjoyed his introduction to economics in Principles I and wants to add more to his knowledge of economics.  Moreover, it provides an upgrade path for the student who has taken Principles of Economics I and wishes t

The course outlines: Theory of Consumer Behaviour, Theory of Firm Behaviour, Market Structures, Elements of Macroeconomics, and the Components of the Macro-economy.

Semester: 
Semester 1
Semester 2
Pre-Requisites: 
ECON1000