020811250 PRINCIPLES OF ECONOMICS ( 3 Crd.Hrs )

This course presents, in its two parts (partial and macro), the most important economic theories and principles. It starts with defining economics and analyzing the problem of economic scarcity. It also deals with the analysis of the commodity market balance by analyzing the forces of demand and supply and the factors influencing them, and analyzes the elasticities of demand of all kinds, as well as the price elasticity of supply. Furthermore, the course addresses the concept, importance and objectives of the sectors of the economy and the circular flow of production and income between these sectors. Lastly, the course introduces students to the methods of national income calculations, consumption and investment theories, and the analysis of the national income balance in different economic models.