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FUNDAMENTALS OF ECONOMICS

Course
ECON110 - FUNDAMENTALS OF ECONOMICS
Department
Economics - English - Undergraduate
Course Type
Course
Status
Required
Language
English
Credit
3
ECTS
5
T+P+L
3 + 0 + 0
Course Coordinator(s)
Asst. Prof. Dr. Isah WADA
Prerequisite
-
Keywords

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)

Item Type Weight (%)
Quiz 1 Quiz 15
Quiz 2 Quiz 15
Midterm Midterm 30
Final Final 40
Total 100

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

Week Topic
Week 1 Agriculture as a business enterprise
Week 2 Risk and risk takers. Risks closely associated with agriculture. Examples
Week 3 The business idea and its appliation to agriculture. Cases
Week 4 Fixed and variable costs in agriculture. Studies with numerical examples
Week 5 Break-even analysis in agriculture. Cases and examples
Week 6 Market power and competition. Types of markets
Week 7 Cases of market types in agriculute. Real life examples of market power
Week 8 Mid term exam week
Week 9 Markets of agricultural commodities. Some lessons to the producers
Week 10 Sensitivity analysis. Case studies
Week 11 Further cases of sensitivity analysis
Week 12 Cash flow analysis
Week 13 Cash flow anlysis - examples and real cases
Week 14 Success stories in contemporary agiculture
Week 15 Final exam week

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 1. Having the ability to understand and discuss international relations discipline by using an interdisciplinary methodology to merge the knowledge coming from sociology, economics, psychology, political sciences well as diplomatic history.
  2. P02 2. Having an adequate knowledge of the history and the epochs of international system and being able to identify historical evolution of the contemporary world politics.
  3. P03 3. Recognizing local, regional and international actors functioning within the international system.
  4. P04 4. Understanding the legal framework of the current international system
  5. P05 5. Ability to identify the relations between the key actors of the international system – the states – from a theoretical as well as multi-dimensional scientific and academic methods.
  6. P06 6. Ability to analyse the roles and positions of the non-state actors – international organizations in particular – within the current world system.
  7. P07 7. Ability to recognize political, socio-economic and cultural structures embedded in international relations.
  8. P08 8. Exploring the roots of conflicts among the actors and produce solutions at local, regional and international levels with an analytical focus.
  9. P09 9. Being able to understand the politics and the functioning of political institutions in theory and practice.
  10. P10 10. Understanding the historical emergence of various political cultures and gaining ability to assess them comparatively.
  11. P11 11. Prepare international relations graduates; having a vast knowledge, academic formation and skills to work in public offices, civil society organizations, international institutions and companies at local and global levels.
  12. P12 12. To have moral and ethical understanding in the field of work.

Po-Lo Matrix

LO P01 P02 P03 P04 P05 P06 P07 P08 P09 P10 P11 P12 Average
L01 - - - - - - - - - - - - -
L02 - - - - - - - - - - - - -
L03 - - - - - - - - - - - - -
L04 - - - - - - - - - - - - -
L05 - - - - - - - - - - - - -