FUNDAMENTALS OF ECONOMICS

Course Description

This course provides a foundational understanding of economics, covering essential concepts that underpin both microeconomics and macroeconomics. Students will explore key topics such as supply and demand, market structures, the role of government in the economy, inflation, unemployment, and international trade. The course emphasizes the importance of economic reasoning and decision-making, providing students with the tools to analyze economic issues in both personal and professional contexts. By completion of the course, students will have a solid grasp of basic economic principles.

FUNDAMENTALS OF ECONOMICS

Evaluation Tools (Active Term)

Course outcomes

1. 01 Cognizance tht agriculture is indeed a type of business enterprise
2. 02 Awareness of risks particular to agriculture
3. 03 Awreness of the spcificity of markets in agricultural commodities
4. 04 Appreciation fo the different types of costs particular to agriculture
5. 05 Apreciation of the improtance of cash flows and money managemet

Course Syllabus

Reference Books & Course Materials

1. 01 Drummond, H, and Goodwin, Johnd W: "Agricultural Economics", third eition Pearson ISBN-13-978-01-36071921

Learning Outcomes

1. L01 Cognizance tht agriculture is indeed a type of business enterprise
2. L02 Awareness of risks particular to agriculture
3. L03 Awreness of the spcificity of markets in agricultural commodities
4. L04 Appreciation fo the different types of costs particular to agriculture
5. L05 Apreciation of the improtance of cash flows and money managemet

Program Outcomes

1. P01 PO1: Engaged in insightful thinking leading to self-learning and lifelong learning.
2. P02 PO2: Established a general knowledge of economics sufficient to work independently through specific learned techniques generated via individual efforts and study.
3. P03 PO3: Reached the required knowledge and skills to understand social, economic and legal issues both within national, international and global contexts and apply theoretical knowledge of economics to practice.
4. P04 PO4: Adopted the ability to critically evaluate, analyze and interpret information gathered through the use of related statistical software programs to suggest creative solutions for economic problems and make relevant economic decisions.
5. P05 PO5: Been aware of gathering and analyzing data through the application of appropriate technological tools in an ethical and safe manner in order to generate economic decisions and policy suggestions.
6. P06 PO6: Been equipped with conceptual and analytical skills essential for team-working and collaborations for economic decision making for a variety of economic concepts in national and global environment.
7. P07 PO7: Endowed with both oral and written communication skills within the economic field to effectively study and work in an international environment
8. P08 PO8: Been able to transfer theoretical knowledge to real life economic environment: to generate policies for microeconomic and macroeconomic problems faced by individuals, firms and governments at national, international and global context.
9. P09 PO9: Developed an ability to apply economic analysis to everyday problems in real world through the development of ethical perspectives and social responsibilities at work and in personal life.

Po-Lo Matrix