COURSE INFORMATION Course Title: INTRODUCTION TO ECONOMICS II

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
ECO 102	B	2	3	0	0	3	5

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Dr. Erinda Imeraj eimeraj@epoka.edu.al , Monday 10:00- 12:00
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Compulsory
Study program: (the study for which this course is offered)	Bachelor in Business Informatics (3 years)
Classroom and Meeting Time:	E 213/ 13:45
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	75%
Course Description:	Introduction to Economics II: This is an introductory macroeconomics course. The aim of the course is to develop an understanding of elementary macroeconomic analysis and its applications. By the end of the term, the student should have acquired a basic understanding of the main macroeconomic topics, including national income, aggregate demand and supply, an introduction to the real economy and money and prices in the long run and some basic concepts about inflation and unemployment trade-off. The material covered in this course will help the student to organize his/her ideas about economics.
Course Objectives:	The objective of this course is to develop an understanding of elementary factors of macroeconomics and give an overview of the macroeconomic equilibrium models of different countries to the students. It aims to learn to students an introduction to the real economy and money and prices in the long run and some basic concepts about inflation and unemployment trade-off.

BASIC CONCEPTS OF THE COURSE

1	Macroeconomics Objectives
2	gross domestic product (GDP)
3	Inflation
4	Consumption
5	Investment
6	Business Fluctuations
7	The Multiplier Model
8	Financial Markets
9	Central Banking and Monetary Policy
10	Unemployment

COURSE OUTLINE

Week	Topics
1	Introduction to teaching method, implementation of the course and summary of topics:An introduction of each topic which will be lectured during the semester weeks, also the material needed and the requirements to succeed the course.
2	Overview of Macroeconomics (ch.19): This chapter will serve as an introduction to macroeconomics. It presents the major concepts and shows how they apply to key historical and policy questions of recent years. (pg. 367)
3	Measuring Economic Activity (ch.20): The single most important concept in macroeconomics is the gross domestic product (GDP), which measures the total value of goods and services produced in a country during a year. GDP is part of the national income and product accounts (or national accounts), which are a body of statistics that enables policymakers to determine whether the economy is contracting or expanding and whether a severe recession or inflation threatens. When economists want to determine the level of economic development of a country, they look at its GDP per capita. (pg.386)
4	Practical Session: Sessions of exercises and case discussions, which face to the students the practical side of the lectures.
5	Consumption and Investment (ch.21): The major components of national output are consumption and investment. Naturally, nations want high levels of consumption—items such as housing, food, education, and recreation. The purpose of the economy is, after all, to transform inputs like labor and capital into consumption. (pg.408)
6	Business Fluctuations and Theory of Aggregate Demand (ch.22): This chapter describes the basic features of the business cycle and presents the simplest theories of output determination. (pg.428)
7	Practical Session - Review before Midterm Exam: Sessions of exercises and case discussions, which face to the students the practical side of the lectures.
8	Midterm Exam
9	The Multiplier Model (ch.22): The basic macroeconomic theory of business cycles holds that shifts in aggregate demand produce the frequent and unpredictable fl uctuations in output, prices, and employment known as business cycles. Economists try to understand the mechanism by which changes in spending get translated into changes in output and employment. The simplest approach to understanding business cycles is known as the Keynesian multiplier model. (pg. 437)
10	Financial Markets and the Special Case of Money (ch.23): The financial system is one of the most important and innovative sectors of a modern economy. It forms the vital circulatory system that channels resources from savers to investors. Whereas fi nance in an earlier era consisted of banks and the country store, fi nance today involves a vast, worldwide banking system, securities markets, pension funds, and a wide array of financial instruments. (pg. 453)
11	Practical Session: Sessions of exercises and case discussions, which face to the students the practical side of the lectures.
12	Central Banking and Monetary Policy (ch.24): We begin this section by providing an overview of central banking. The next section provides the details about the different tools employed by the central bank and explains how they can be used to affect short-term interest rates. (pg.475)
13	Unemployment and Inflation (ch. 29 & 30): This chapter includes two main important macro variables as Unemployment and Inflation, their measurement and effect in the macroeconomic situation of a country. (pg. 589 & 609)
14	Practical Session - Review before Final Exam

Prerequisite(s):	na
Textbook(s):	Economics, P.A.Samuelson-W.D.Nordhaus , 20th ed., Mc Graw-Hill Ins.,2019. Economics, M. Parkin, Pearson; 12 edition (2015)
Additional Literature:	Lecturers presentations
Laboratory Work:	na
Computer Usage:	na
Others:	No

COURSE LEARNING OUTCOMES

1	Learning of economic system and production possibilities analysis
2	Analyzing of economic deciding processes of a rational consumer in ordinal and cardinal consumption theory
3	Determination of market, demand, supply functions as mathematically and theoretically, Fixing of elasticities concerning these functions, Comprehending of state intervention on these functions
4	Learning of firm theory, production theory in short and long term, learning of rational deciding processes directed to profit maximization aim and revenue and cost functions

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Bachelor in Business Informatics (3 years) Program
1	Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics.	3
2	Apply key theories to practical problems within the global business context.	4
3	Demonstrate ethical, social, and legal responsibilities in organizations.	2
4	Develop an open minded-attitude through continuous learning and team-work.	2
5	Integrate different skills and approaches to be used in decision making and data management.	5
6	Combine computer skills with managerial skills, in the analysis of large amounts of data.	2
7	Provide solutions to complex information technology problems.	1
8	Recognize, analyze, and suggest various types of information-communication systems/services that are encountered in everyday life and in the business world.	4

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	30
Lab/Practical Exams(s)	4	5
Final Exam	1	50
Attendance		0
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	16	2	32
Mid-terms	1	15	15
Assignments	5	3	15
Final examination	1	15	15
Other			0
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5

CONCLUDING REMARKS BY THE COURSE LECTURER

To be fulfilled in the end of the semester.