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. Should be able to write effective reports, understand written reports, and prepare design and production reports.
2. Should have the ability to make effective presentations.
3. Should have the ability to give and have clear and understandable instructions.
4. Should gain consciousness (awareness) about the necessity of lifelong learning.
5. Should have the ability to access information.
6. Should have the ability to follow developments in science and technology and constantly renew himself/herself.
7. Should gain the awareness of professional and ethical responsibility and should act in accordance with ethical principles.
8. Should gain knowledge about the standards used in engineering applications.
9. Should gain knowledge about project management, risk management, and change management practices in business life.
10. Should gain awareness about entrepreneurship, and innovation.
11. Should gain knowledge about development in sustainability.
12. Should gain knowledge about the effects of engineering practices on health, environment, and security at universal and social dimensions and the problems of the age reflected in the field of engineering.
13. Awareness should be gained about the legal consequences of engineering solutions.
14. Should have sufficient knowledge in mathematics, science, and subjects specific to the relevant engineering discipline.
15. Should have the ability to use theoretical and applied knowledge in mathematics, science, and related engineering disciplines in complex engineering problems.
16. Should have the ability to detect, define, formulate, and solve complex engineering problems.
17. Should have the ability to select and apply appropriate analysis and modeling methods to solve complex engineering problems.
18. Should have the ability to design a complex system, process, device, or product to meet specific requirements under realistic constraints and conditions.
19. Should have the ability to apply modern design methods.
20. Should have the ability to develop, select, and use modern techniques and tools necessary for the analysis and solution of complex problems encountered in engineering applications.
21. Should have the ability to use information technologies effectively.
22. Should have the ability to design experiments, for the study of complex problems or discipline-specific research topics.
23. Should have the ability to conduct experiments, collect data, analyze and interpret results for the study of complex problems or discipline-specific research topics.
24. Should have the ability to work in intradisciplinary teams.
25. Should have the ability to work in interdisciplinary teams.
26. Should have the skills to work individually.
27. Should have the ability to communicate effectively verbally and in writing.
28. Should have the knowledge of at least one foreign language.

Po-Lo Matrix