Introduction to Economics

Pre-requisites: None

Course objectives: The goal of this course is for students to understand basic concepts in economics as a science that deals with rational use of limited resources and optimizing satisfaction of constantly growing consumer needs - individual and mass scale.

Course description: This course involved analyzing elementary economic phenomena at the level of vertical individuals, business and state beginning with basic principles(supply and demand) from which all consumers and participants in the economy optimize individual choice by using market mechanisms of selection and resource allocation. The course follows by addressing issues in production, spending and distribution. The role of individuals and corporations is analyzed, as basic economic units both in the economy and in general social structure. On this note, special attention will be given to analyzing market institutions that define the mechanisms which connect basic economic units to gain a bigger picture. On the basis of examining basic economic units, as defined by institutional arrangements, state-level economic politics are formed with the long-term goal of macroeconomic stability.

Learning Outcomes: Students will be familiar with economic concepts, theories and ideas as well as institutional mechanisms and functioning processes of economy at a macro and micro level.

Literature/Reading:

• Gregori Mankju, PRINCIPI EKONOMIJE, Ekonomski fakultet Beograd, 2004. (Strane: 19-28, 45-104, 269-321, 349-356, 377-378, 457-473, 503-514, 523-527, 530-531).
• Miroljub Labus, OSNOVI EKONOMIJE, Stubovi kulture, Beograd, 2007. (Strane: 17-64, 85-106, 137-233, 276-297, 434-438, 447-455, 456-490).
• Paul Samuelson i William Nordhaus, EKONOMIJA, (XV izdanje), Mate d.o.o., Zagreb, 2000.(Strane: 663-676).