Introduction to Economics
Pusan National University
Busan, South Korea
Area of Study
Taught In English
Course Level Recommendations
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Recommended U.S. Semester Credits0
Recommended U.S. Quarter Units0
Hours & Credits
This is an introductory course in economic principles. The course is about learning how people interact in a market-based economy and how an economy works as a whole. The purpose of this course is to provide students with the ability to use economic reasoning and economic terminology to offer insights into economic theories, policies, and institutions. Topics include economic modeling, allocation of resources, consumer behavior, firms, and the governments in markets, imperfect competition, economic analysis of unemployment, inflation, and economic growth, the role of government in the domestic economy, and various fiscal and monetary policies.
Primary emphasis is placed upon acquiring skills with which to analyze current economic issues. Students who have successfully completed the course will be able to reason economically, apply economic tools and theories to market situations, understand policy debates and formulate informed opinions.
The course introduces a broad overview of economics by introducing students to various concepts and theories that are central to economics. This course also prepares students for the more advanced in-depth study of intermediate level theory courses in economics. This is an intensive course that covers both micro and macroeconomic topics in one semester. Microeconomic topics include the basic economic concepts, demand and supply analysis, the market system, market imperfections and the role of government. Macro-economic topics include the basic macroeconomic concepts, the core of macroeconomic theory, and fiscal and monetary policies.
Evaluation and Grading
- Reading. Reading materials will be handed out in class.
- Attendance. Students are expected to attend every class. Students will be held responsible for all material covered or assigned in class. Since some topics not covered in the textbook will be introduced in lectures, they will be held responsible for them on exams.
- Participation. Students are strongly encouraged to participate in class discussion. Student participation will foster the students' ability of expressing their ideas to the audience effectively. There will be some quizzes in class. The quizzes will cover material from previous weeks.
- Assignments. Homework will be assigned regularly. These assignments will provide problem-solving experience that will aid students in exams. If assignments are turned in after I post the answers online, they will not be accepted. Late assignments turned in before that will be graded normally, but the score will be multiplied by 0.5. If you know in advance that you will not be able to hand in an assignment on time (i.e., you will miss a class), you must speak to me before the assignment is due and hand it in early.
- Grading - There will be three exams, two within the term and one in the final exam time-slot. The first two exams are non-cumulative. Each exam will be worth 25 percent of the course grade. The final exam is worth 40 percent and it is cumulative. The total score from assignments will be worth 6 percent of the course grade and the participation and the quizzes together will be worth 4 percent.
- Plagiarism and Cheating. Plagiarism is the use of the written work of others as one’s own original work.Students are expected to complete their own work in this class. Cheating on exams is not fair to students who are honestly studying. Both plagiarism and cheating will be subject to severe penalties. Failing the course will be seriously considered.