1. Readings in Economics Fall Semester 2012 Sean McCormack

2. Week 1 Introduction to Economics History of Economic thought – Adam Smith Positive versus normative economics

3. Week 2 Econometrics The law of demand Simple supply and demand curves Elasticity of demand

4. Week 3 The traditional economy The market economy The mixed economy Deregulation

5. Week 4 Microeconomics Consumer choices Marginal utility Economies of scaleDivision of labor Factors of productionMonopolies Revision Vocabulary Test 1 - Weeks 1 to 3

6. Week 5 National Foundation Day (2012.10.03)

7. Week 6 The Labor market Factors of production Division of labor

8. Week 7 Surplus Pricing strategy Revision Vocabulary Test 2 – Weeks 4 to 6

9. Week 8 Mid term presentations

10. Week 9 Welfare economics Inequity / externalities Government revenue Tax systems

11. Week 10 Macroeconomics Aggregate demand Aggregate supply

12. Week 11 The money supply The banking system Liquidity Fiscal policy Monetary policy Revision Vocabulary Test 3 – Weeks 7 to 10

13. Week 12 Interest rates and the money market Central banks Demand side shocks Supply side shocks Inflation Unemployment

14. Week 13 Economic growth The business cycle The open economy Exchange rates Revision Vocabulary Test 4 – Weeks 11 to 12

15. Week 14 The world economy Exchange rate mechanisms International trade Import quotas and tariffs

16. Week 15 Final Presentations Revision Vocabulary Test 4 – Weeks 13 to 14

17. Week 16 Presidential Election (2012.12.19)