INTRODUCTION TO ECONOMICS FOR NON-ECONOMISTS
Preparatory Term 1994
Doug Crowe
Civic Education Project
for the Department of European Studies
Central European University



Purpose of Course:
To give students some basic understanding of economic terminology and concepts that will enhance their studies in the European Studies programme.

Day 1:
Get Acquainted
Economic Methodology
Economic Issues in Eastern and Central Europe
Micro-Macro Economics
Fallacy of Composition
Fallacy of False Cause

Day 2:
Resource - Land, Labour, Capital, Entrepreneur
Payments - Rent, Wages, Interest, Profits
GNP
GDP
Consumption Expenditure
Investment
Government Expenditurs
(X-m) - Net Exports -
Expenditures plus Income Approach to GNP

Day 3:
Real GNP
Nominal GNP
Consumer Price Index
Business Cycle Theory
Inflation, Unemployment
Is GNP a good measure of Economic Welfare?
Tobin Nordhaus - MEW
Non-market Activities
Pollution
Diamond Graph

Day 4:
Model of Demand + Supply
Why prices are important in a market system
Application of D+S to the money supply - Interest Rates, inflation

Day 5:
Application of D + S to the Macro Economy
Inflation
Unemployment
Multiplier Effect
.Consumption Function
Investment Function

Day 6:
Economic Growth Models
Real as Nominal Interest Rates
Technology

Day 7:
Investments
Capital

Day 8:
Cost Benefit Analysis for Public Policy
Marginal Cost
Marginal Benefit

Day 9:
Examination

Day 10:
Topics in Economics that Eastern and Central Europe Face
Privatization
Infrastructure
Role of Government
Monopolies Regulation
Discrimination
Labour Unions and Markets
EC - &International Financial Systems


A reading package will be distributed.


CRC-Curriculum Resource Center
CEU Budapest, Hungary
Modified: April, 1996
Cro_IntroEcon.P94IR.v1

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