University of Benha

Faculty of Commerce

Department of Economics

Module outline of:

E114: Principles of Economics

Instructor
Dr Doaa Akl Ahmed
Academic year: 2020-2021

First grade
First term

1
 1- Basic Information
Course Level: Course Title: Course Code: Prerequisite: None
Freshman (1st) Principles of Economics E116
Specialization: NA
Contact Hours
• Lecture: 3 hours per week
• Tutorial: 1 hour per week

2- Specialized Information
2.1. Course Aim/s This course is designed for students studying economics for the first time by
providing introduction to economic concepts and issues. Thus, it will
introduce the student to the terminology and methodology of the economists
and use the concepts and tools to explore a variety of topics that are of
concern to economists and policymakers. Precisely, the behaviour of both
individuals (as consumers of goods and services and, at the same time, as
suppliers of factor of production such as labour and capital) and producers
(who hire productive inputs to produce and supply goods and service) will
be analysed. The course presents economists’ views of what motivates
individuals and how they respond to incentives, firms and their production
decisions, markets for goods and services and productive inputs as well as
government intervention in markets. Also, the course provides an insight on
the relationship between the production function, output and various cost
curves, how prices are determined, the incidence of taxation, how the entire
economy operates. Additionally, a considerable attention will be paid the
role of government in achieving three main objectives namely: price
stability, low unemployment and economic growth. We will relate these last
3 objectives to the business cycle. By the end of the course, students would
be able to read a newspaper and understand the basics of the economic debate
and dilemma under discussion.

3- Intended Learning Outcomes:

By the end of the course, students should be able to:
3.1. Knowledge and 3.1.3 Identify economic principles related to decision making, costs,
Understanding: efficient resource allocation, and production.
3.1.4 Identify microeconomic issues facing market economies such
as market failures and government intervention policies
needed for efficient resource allocation.
3.1.5 Comprehend the basic mechanisms of the goods market in
terms of the circular flow diagram, supply and demand,
equilibrium, surplus and shortage.
3.1.6 Outline basic macroeconomic concepts and principles such as
unemployment, inflation, saving, investments, growth and
balance of payments.
3.1.7 Describe economic policies on the macro level such as fiscal
and monetary policies on the aggregate economy.
3.1.8 Identify the linkages between the money market, the financial
market, and the market for goods and services
3.1.9 Understand simple mathematical, verbal and diagrammatic
methods of analysis.
3.1.10 Explore alternative microeconomic policy responses.
2
 3.1.11 Explain the importance of research in understanding
microeconomics in the real world.
3.2. Intellectual 3.2.1 Subdivide different microeconomic methodological tools into
Skills: mathematical and diagrammatical methods of analysis to
explain microeconomic issues.
3.2.2 Analyze the characteristics of alternative microeconomic and
macroeconomic models.
3.2.3 Explain key economic principles to various practical and
policy issues.
3.2.4 Explore different economic data analysis techniques in
analyzing and interpreting international economic
phenomenon such prose, tables, and graphs.
3.3. Professional and 3.3.1 Conduct simplified supply and demand models along with
Practical Skills: elasticity characteristics to estimate the consequences of
changes in the market for goods and services on quantity and
price.
3.3.2 Contribute in decision making by acquiring important skills
in numeracy, literacy, and information processing.
3.3.3 Use both qualitative and quantitative skills in solving
economic problems.
3.4. General and 3.4.1 Experience with conceptual frameworks effective for
Transferrable problem solving and decision making.
Skills: 3.4.1 Acquire analytical reasoning skills, numeric and clear effective
communication skills.

4- course contents

Main Topic Chapter Teaching hours Week

No No.
Theoretical Tutorial

3 hrs/week 1 hrs/week

1 3 hrs No
Introductory lecture and module outline tutorials 1
2 WHAT IS ECONOMICS? Chapter 1 3 hrs 1 hr
• Define economics and distinguish
between microeconomics and
macroeconomics.
• Explain the three KEY questions of 2
economics.
• Explain the key ideas that define the
economic way of thinking.
• Graphing data (Appendix o chapter 1)
3 THE ECONOMIC PROBLEM Chapter 2 3 hr 1 hr
• Define the production possibility frontier
(PPF) and use it to calculate the
opportunity cost 3
• Understand production efficiency
• Economic Growth
• Gains from Trade

3
4 DEMAND AND SUPPLY Chapter 3 6 hrs 2 hr
• Markets and Prices
• Demand
4-5
• Supply
• Market Equilibrium
• Predicting Changes in Price and Quantity
5 ELASTICITY Chapter 4 6 hrs 2 hr
• Price Elasticity of Demand
• Cross Elasticity of Demand 6-7
• Income Elasticity of Demand
• Elasticity of Supply
7 Mid-term exam 8
6 GOVERNMENT IN ACTIONS Chapter 6 6hrs 2 hr
• Rent ceilings (generally price ceiling)
9
• Minimum wages
• Taxation
8 ORGANIZING PRODUCTION Chapters 6 hrs 2 hr
• The Firm and Its Economic Problem 10 and 11
OUTPUT AND COSTS
• Decision Time Frames 10-11
• Short-Run Technology Constraint
• Short-Run Cost
• Long-Run Cost
9 MEASURING GDP AND ECONOMIC Chapter 21 6 hrs 2 hrs
GROWTH
• Gross Domestic Product 12-13
• Measuring GDP
• The Uses and Limitations of Real GDP
11 MONITORING JOBS, MONEY, THE Chapter 22 3 hrs 1 hrs
PRICE LEVEL, AND INFLATION, and
• Employment and Unemployment chapter 25
14
• Unemployment and Full Employment
• What Is Money?
• The Price Level, Inflation, and Deflation
9 Final exam 15

5- Teaching and Learning Methods:

Selected
No. Teaching / Learning Method
Methods
1 Interactive Lectures √
2 Recorded Lectures √
3 Tutorials √
4 Self-Study: Project / Reading Materials / Online Material/ Presentations √
5 Seminars
6 Case Studies √
7 Problem Solving √
8 Others (Specify)

4
6- Assessment Methods, Schedule and Grade Distribution:
No. Assessment Method Selected Methods Week No. Marks %
1 Midterm Exam (s) √ 8 20
2 Final Exam √ 15 80
3 Quizzes
4 Assignments
5 Presentations
6 Individual Projects
7 Research and Reporting
8 Teamwork Projects
10 Others (Participation)

7- List of Books and References:

Parkin, M. (2014), Economics, eleventh edition (different editions
Essential Textbook
will have different numbers of chapters)
Recorded lectures are to be delivered on the official channel of the
Recorded Lectures
faculty due to the adoption of the hybrid educational system.
Extra
Recommended
Books
Internet websites:
Other Sources
Relevant Videos on YouTube

8- University Grading system

34 or below Very poor
35-49 Poor
50-64 Pass
65-79 Good
80-89 Very good
90-100 Excellent

9- Tools and Facilities Required for Teaching and Learning:

Facility Lecture
White Board √
PC/Laptop √
Data-Show √
Laser Pointer √
Internet √
Printer
Copier

5
 10- Plagiarism Policy:
Plagiarism, in the school's jargon called "copying and pasting", is the intentional act of
replicating someone else's work (be it text, ideas, images, or any non-common knowledge)
without referring to the source. One can also self-plagiarize through submitting his/her own
work to more than one course without clearly notifying the professor.
Students submitting paper/assignment/presentation with plagiarized content will
automatically receive a failing grade for their work.
Refer to the instructor for more information about how to avoid plagiarism.

Course Instructor: Head of the Department of Economics:

Dr. Doaa Akl Ahmed Dr. Amira Akl Ahmed