1. MICRO AND MACRO ECONOMICS
FOR FOREIGN STUDENTS
GROUPS AOГ806, АОГ810, АОТ801, АОТ802

2. teacher: Liubov Yurievna Spicyna School of Core Engineering Education Division for Social Sciences and Humanities associated professor
All course information is presented at my site All news and changes are at the same page. If you need to tell me anything important, call me ( ) or send

3. Micro and Macro economics: about the course
54 teaching hours, 36 lectures and 18 practices (autumn semester of 2018/2019 school year)
2 modules (Microeconomics and Macroeconomics)
3 credits (100 points assessment: 80 points for working, attendance and research, 20 points for exam)
The assessment to be sucsessful – learning activities assessments more than 55 points (tests, tasks, projects, control answers, attendance, research,exam)

4. Micro and Macro economics: attendance
You have to attend the lectures and practical studies in order to be assessed for successful course finish (15 points)
If you cannot attend the lesson, you are to tell about the reasons and bring me the supporting documents
You must answer my questions, solve the tests and perform project works within our course to be successful

5. Economics: introduction
Science field
Methodology
Basic terms

6. Economics: Science field
Economy is the sphere of human life dealing with the activities of a human, enterprise or society to survive and to develop using the resources of Land, Labor, Capital, Entrepreneurship and (in some theories) Knowledge Every person connects with economy every day

7. Economy in our everyday life

8. Economics: Science field
Economics are the theories, principles, and models that deal with how the market process works. It attempts to explain how wealth is created and distributed in communities, how people allocate resources that are scarce and have many alternative uses, and other such matters that arise in dealing with human wants and their satisfaction.

9. Economics: Science field
Economics is learned in 4 levels: Microeconomics – 1 person, 1 firm, 1 market economic relations Macroeconomics – national economic system Mezo-economics – geographically, historically, culturally joint economic system Mega-economics – the whole Earth economic system

10. Economics: Methodology
Economics include such branches as: Economic theories (logical views of how things work, frequently formulated on the basis of observation) Models (the formalizations of theories that facilitates scientific inquiry) Data – the measurable information about the economic processes: their structure, development, quantity and qualities Positive economics studies objective or scientific explanations of how the economy functions. Normative economics offers recommendations that incorporate value judgments.

11. Economics: Methodology
To present, explain, illustrate and evaluate their theories and models they have developed a set of techniques or tools.
These involve:
verbal descriptions and explanations,
diagrams,
algebraic equations,
data tables and charts
statistical tests of economic relationships

12. Economics: Methodology
To present, explain, illustrate and evaluate their theories and models they have developed a set of techniques or tools.
These involve:
verbal descriptions and explanations,
diagrams,
algebraic equations,
data tables and charts
statistical tests of economic relationships

13. Economics: Basic Terms
Economics deals with economic agents who can include households (persons), firms and government. They have the same interests, activities and principles of operating in microeconomics and in macroeconomics. The households’ interests are to realize their needs while their resources are limited. The firms’ interests are to make and to sell goods & services (their resources are scared) and to have greatest possible profit The governments’ interests are to make the society survive and develop effectively when the resources are scared but wishes are unlimited

14. Economics: Basic Terms
Economies in the world may have different structure. All of them include Market – the mechanism of exchanging goods & services among all members of society who need them and pay their value for their owners Labor specialization – the graduating of sellers in producing different types of commodities Public goods – the goods & services which are unprofitable or impossible to produce by private firms

15. Economics: Basic Terms
Economies in the world may have different structure:
Market economy – the system based on the private ownership for productivity factors and the commodities
Command Economy - the system in which resources are allocated through central planning, usually by the state or central government
Mixed economy - goods and services are supplied both by private suppliers and government.

16. Economics: Basic Terms

17. Economics: Basic Terms
Resources required for generation of goods or services, generally classified into four major groups: Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), Enterprise (which brings all the previous resources together for production). These factors are classified also as management, machines, materials, and money (this, the 4 Ms), or other such nomenclature. More recently, knowledge has come to be recognized as distinct from labor, and as a factor of production in its own right.

30. HOMEWORK
At next lesson you are:
To tell some words about yourself (name, profession you are learning for, native country and type of its economy, the role of national government in economic life)
To tell about the characteristics of economic theory, economic model, economic data (explain the types of economic data). Give the examples for Microeconomics