UNIVERSITI MALAYSIA PERLIS

(UniMAP)

PUSAT PENGAJIAN INOVASI PERNIAGAAN DAN TEKNOUSAHAWAN (PPIPT)

[SCHOOL OF BUSINESS INNOVATION AND TECHNOPRENEURSHIP (SBIT)]

BFT101 BUSINESS ECONOMICS – COURSE OUTLINE

LECTURERS : PROFESSOR DR ROSNI BAKAR & DR TUNKU SALHA TUNKU AHMAD

STUDY WEEK COURSE CONTENT

Week 1 Introduction to Economic Concepts
1.1 Definition of Economics
1.2 Difference between Microeconomics and Macroeconomics
1.3 Positive and Normative Analysis
1.4 Basic Economic Concepts
Weeks 2 & 3 Demand and Supply
2.1 Demand and supply analysis
2.2 Price determination, maximum and
minimum price
2.3 Elasticity of demand: price, cross and
income
2.4 Elasticity of supply

Weeks 4 & 5 Cost of Production

3.1 Fixed cost, variable cost, average cost and
marginal cost
3.2 Short-run production and long-run production
3.3 Total revenue, marginal revenue, and average
revenue
3.4 Accounting profits and economic profits

Weeks 6 & 7 Market Structure

4.1 Perfect competition, monopoly, monopolistic competition and
oligopoly

Week 8 MID-SEMESTER BREAK

Week 9 National Income Accounting

5.1 Definition and measurement
5.2 Difficulties in Calculating National Income
5.3 Nominal and real national income
5.4 Components of national income
5.5 Circular flow of income
Weeks 10 & 11 National Income Equilibrium
6.1 Introduction
6.2 Consumption, Saving, Investment and Government
Sector
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 6.3 Determination of Equilibrium
6.4 Multiplier Concept
Weeks 12 & 13 Aggregate Demand and Supply
7.1 The Aggregate Demand Curve
7.2 The Determinants of Aggregate Demand
7.3 The Aggregate Supply Curve
7.4 The Determinants of Aggregate Supply
7.3 Changes in the AD-AS Macroeconomic Equilibrium
7.5 Cost Push and Demand Pull Inflation
Week 14 Macroeconomic Problems
8.1 Business cycle
8.2 Unemployment
8.3 Inflation
8.4 Business Cycle and AD-AS
8.5 The Influence of Monetary policy and fiscal policy on
Macroeconomic Equilibrium
Week 14 PRESENTATION
Week 15 PRESENTATION
Week 16 STUDY WEEK

ASSESSMENT METHOD:

1. Coursework (30%):
 Group Assignment = 20%
 Presentation = 5%
 Quiz = 5%
2. Mid-Term Exam (20%)
3. Final Exam (50%)

References:

Tucker, I.B. (2013). Survey of Economics, (8th edition.), South-Western,

Cengage Learning.

N. Gregory Mankiw, Goh Soo Khoon, Ong Hway Boon, Yen Siew Hwa,
Cheng Ming Yu, Muszafarshah Mohd Mustafa & Yvonne Lee Lean Ee.
(2013). Principles of Economics, (Malaysian edition.), Cengage Learning

Karl E. Case, Ray C. Fair, & Sharon M.Oster (2013). Principles of Economics,
(15th edition.), South-Western, Cengage Learning.

Deviga Vengedasalam & Karunagaran Madhavan (2013). Principles of

Economics. (3rd edition.), Oxford University Press.
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