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Principles of Economics   (POE)

Principles of Economics (POE)

Full Marks: 100

Module-A: Economics: Introduction

  • Definition; Micro Vs. Macro; Positive Vs. Normative Economics
  • Scarcity, Resources, Opportunity Cost
  • Circular Flow, Production Possibility Curve, Economic Models
  • Economic Systems – Market Economy and Regulated Economy

Module-B: Basics of Microeconomics

  • Market forces of Demand and Supply; Market Equilibrium
  • Shifts and Changes in the Demand and Supply
  • Consumer’s Equilibrium – Utility Analysis and Indifference Curve Analysis
  • Consumer Surplus; Price Ceiling and Floor
  • Elasticity and its Application

Module-C: Production and Cost

  • Concepts of Production; Production in the Short run
  • Short-run Costs of Production
  • Relations between Short-run Cost and Production
  • Production Isoquants and Isocost Curves
  • Optimal Combination of Inputs; Optimization and Cost
  • Expansion Path and Returns to Scale
  • Long Run Costs, Relationship between SR and LR Cost

Module-D: Market Structure

  • Various Forms of Markets
  • Characteristics of Perfect Competition – Profit Maximization in SR and LR
  • Nature of Monopoly and Monopolistic Competition
  • SR and LR Equilibrium under Monopoly and Monopolistic Competition
  • Strategic Decision Making in Oligopoly Markets

Module-E: Market Failure and Market Intervention

  • Concepts of Market Failure and Externalities
  • Market Failure and Policy Intervention in the Financial Sector

Module-F: Macroeconomics

  • Overview of Macroeconomics
  • National Income & Accounts
  • Government Income and Expenditure Accounts
  • Monetary Account, Balance of Payment Account
  • Interactions among these macro accounts
  • Macro-economic Policies (Monetary and Fiscal Policy) and Equilibrium

Module-G: Macroeconomic Performance of Bangladesh

  • Indicators of Macroeconomic Performance
  • National Income, Savings, Investment
  • Capital Formation, Inflation, Unemployment