Economics For Business

Inslilulo of Managononl TochnoIogy
AcadcmIc CIty, DubaI

5y!!abus

M8A Prcgran. |ccncnics fcr 8usincss

I. Cnursc DcscrIptInn

This couiso oxpIoios lho ioIalionship of ocononics lo nanagoiiaI docisions.
Considoialions aio givon lo oplinizalion lochniquos, fundanonlaI nicioocononics
lhooiy of suppIy and donand, naikol sliucluios, gano lhooiy, piicing slialogios,
oxloinaIilios, lho ioIo of lho govoinnonl in ocononic aclivily, pioduclion and
ocononic giovlh, unonpIoynonl, nonoy giovlh and infIalion, and vaiious nicio
and nacioocononic lopics.

II. Cnursc ObjcctIvcs

1. To undoisland hov vaiious ocononic concopls and ocononic looIs aio usod in
nanagoiiaI docision-naking.
2. To oxpIain lho ioIos of inloinaI indusliy iivaIiy, luyoi povoi, suppIioi povoi, onliy
condilions and conpolilion fion sulslilulo pioducls in shaping lho oxloinaI
onviionnonl of an oiganizalion and lho iango of iivaI ioaclions lo an oiganizalions
aclions.
3. To oxpIain hov an oconony opoialos fion a nicio and a nacio poispoclivo.
4. To Ioain aloul shoil-iun ocononic fIuclualions and hov lhoy inpacl poIicy
docisions.
5. To Ioain aloul lho lonofils of inloinalionaI liado.
6. To undoisland hov oui aclions can Ioad lo spiIIovoi lonofils and cosls.

III. Tcxtbnnks:

FnundatInns nf .4342.8, Andrew Gillespie. OxIord University press, 2007.
!rIncIp!cs nf EcnnnmIcs, Mankiv, 4
lh
odilion, Thonson Soulhvosloin, 2OO7.

ManagcrIa! EcnnnmIcs and BusIncss 5tratcgy, MichaoI R. ayo, 5
lh
Ldilion, McCiav
HiII, 2OO5.
Couiso TilIo : Lcononics foi usinoss Couiso Codo : LCO5O1
Insliucloi : Di. K.S.Sujil
L-naiI : kssujilgnaiI.con

IV. !cdagngIca! Apprnach:

Inloiaclivo Ioaining and loanvoik viII lo onphasizod in lhis cIass. Sludonls aio
oxpoclod lo pIay an aclivo ioIo in lho Ioaining piocoss. Tho couiso viII lo adninisloiod
using IovoiIoinl Iocluios, discussion of ond-of-chaploi quoslions, soIoclod piolIons,
and ioaI voiId oxanpIos lo hoIp sludonls undoisland lho concopls and lhooiolicaI laso
of ocononics.

V. LcarnIng nutcnmcs:

Afloi conpIolion of lhis couiso, sludonls viII lo alIo lo:
1. Dononslialo undoislanding of suppIy and donand, oIaslicily, piico conlioIs,
govoinnonl inloivonlion, inloinalionaI liado, fiin lohavioi, piico doloininalion,
unonpIoynonl, infIalion, and oxchango ialos.
2. CiilicaIIy anaIyzing lusinoss piolIons fion an ocononic poispoclivo.
3. Dononslialo undoislanding pulIic poIicios and lhoii inpacl on lusinossos.

VI. Cnursc Eva!uatInn

AII sludonls aio oxpoclod lo olsoivo lho acadonic iuIos and ioguIalions of lho IMT.
IIoaso iofoi lo youi 5tudcnt Handbnnk foi spocific dolaiIs. IooI fioo lo ask youi
insliucloi oi Iiogian Diiocloi if you havo any quoslions as lo hov lhoso iuIos and
ioguIalions appIy lo lhis couiso. NOT knoving lho iuIos is nol an oxcuso foi lioach of
lho iuIos RoguIai allondanco is oxpoclod of aII sludonls. Assignnonls aio inpoilanl pail
of lhis couiso. AII assignnonls nusl lo handod-in on lho duo dalos.
LvaIualion Schono is as foIIovs:

Gradc CatcgnrIcs DcscrIptInn WcIght tnward
fIna! gradc
CIass Iailicipalion
Quizzos
Assignnonls
Mid-loin
IinaI Lxan
----
Oljoclivo lypo quoslions and piolIons
Topic lasod
IiolIon soIving dofinilions and concopls
IiolIon soIving dofinilions and concopls
1O
15
15
2O
4O
TolaI 1OO

VII. Couiso DoIivoiy IIan :

Week Topic/ Activity # of
Contact
hrs
89
1 lnLroducLlon WhaL ls economlcs? ( ChapLer1

Andrew Clllesple)
3/
1be ptoJoctloo losslblllty ltootlet ( cboptet

Andrew Clllesple)
J emooJ Aoolysls( cboptetJ Andrew Clllesple)
7/
lostlclty of emooJ ooJ 5opply meosotemeot of
elostlclty ( cboptet Andrew Clllesple)
3 ,arkeL Lqulllbrlum( cboptet6 Andrew Clllesple)
1he free markeL sysLem ( cboptet7 Andrew

Clllesple)
7 CosL analysls shorL run and long run ( cboptet9
Andrew Clllesple)
9
8evenue and cosL analysls( cboptet10 Andrew
Clllesple)
9 9erfecL CompeLlLlon ,arkeL sLrucLure and flrm
behavlor shorL run and long run equlllbrlum Lhe
allocaLlve efflclency of perfecL compeLlLlon (
cboptet11 Andrew Clllesple)
9

10 ,onopoly A slngleprlce monopollsLs Lhe
allocaLlve lnefflclency of monopoly prlce
dlscrlmlnaLlon carLels as monopoly ( cboptet1
Andrew Clllesple)
11 llgopoly markeL ( cboptet1J Andrew Clllesple)
1 ,onopollsLlc compeLlLlon ( cboptet1 Andrew
Clllesple)
9
id-term examination
9
13 lnLroducLlon Lo ,acro economlcs
,acroeconomlc lssues and ,easuremenL Lhe
Cu9 gap Cu9 Cnl and Cn9 lnLerpreLlng naLlonal
lncome and ouLpuL measures ( cboptet191
Andrew Clllesple)
14 Lconomlc growLh and economlc cycle ( cboptet
Andrew Clllesple)
9
13 A baslc ,odel of ueLermlnaLlon of Cu9 aggregaLe
demand and aggregaLe supply ( cboptetJ
Andrew Clllesple)
1 Cu9 ln an open economy wlLh governmenL
governmenL spendlng and Laxes (flscal pollcy) (
cboptet 6 Andrew Clllesple)
17 Coods markeL and ,oney markeL equlllbrlum

1 lnLroducLlon Lo 8alance of 9aymenL
19 unemploymenL and lnflaLlon( cboptet7 9

Andrew Clllesple)
9
I|na| Lxam|nat|on

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Economics For Business

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Inslilulo of Managononl TochnoIogy

AcadcmIc CIty, DubaI

1 lnLroducLlon WhaL ls economlcs? ( ChapLer1

1be ptoJoctloo losslblllty ltootlet ( cboptet

1he free markeL sysLem ( cboptet7 Andrew

17 Coods markeL and ,oney markeL equlllbrlum

19 unemploymenL and lnflaLlon( cboptet7 9

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