PHOENICIA UNIVERSITY

College of Business
GENG 204 Syllabus
Engineering Economy

Instructor: Ms. Myrna Boghossian

Office: 214
E-mail: myrna.boghossian@pu.edu.lb
Office hours: TTH 12:15-13:00 and TH 14:15-15:00

Course Description: Engineering Economy (GENG 204): This is an introductory course

in Economics. It is divided into two broad segments: microeconomics and
macroeconomics. Students will learn how managers can make economic decisions under
certainty, uncertainty and risk. Topics covered in microeconomics include: scarcity and
choice, demand and supply, utility, elasticity and consumer choice. Whereas topics in
macroeconomics include: national output, national income, inflation, unemployment,
aggregate supply and demand, aggregate expenditure, equilibrium output, fiscal and
monetary policies among others.

Textbook:

Principles of Economics, by Case, Fair, & Oster 11th edition, 2014.

Course Objectives

The course aims to introduce the students to the principles that govern microeconomics and
macroeconomics. The students will be able to use the concepts in this course to analyze the
daily economic issues facing our world.

Learning Outcomes

Upon completion of the course, students should be able to:

1. Demonstrate knowledge of the methods and models used in economic analysis.

2. Demonstrate knowledge of micro and macro-economic principles and how they
apply in real world.
3. Understand the laws of supply and demand and how they apply to real economic
issues.
4. Understand how prices are determined and how inflation is calculated and its
effects.
5. Measure national output and national income.
6. Understand and apply the concepts of elasticity and utility.
7. Understand and analyze the different intervention policies used by the government.

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Class Policies and requirements

1. Attendance and Participation -- Attendance is mandatory.

2. Late Assignments: All assigned homework should be submitted to the

instructor in the beginning of every session in a neat and acceptable form.
Homework is graded and included in the calculation of the final grade.

3. Academic Honesty -- Students are expected to know and comply with the
universitys policy on plagiarism and cheating. In this regard, students should
do their own work on exams and assignments without unfair advantage over
others. They should give appropriate recognition when using others ideas and
contributions, especially in written documents.

Grading Policy

Grade distribution will be as follows:

Midterm Exam 45%

Final Exam 50%
Class Participation, Behavior and Assignments 5%

The course grade is subject to normalization of grade distribution in the class. Thus, each
students final course grade may be equal, higher, or lower than the grade computed on the
basis of the above grade distribution.

Comments

v No make-up exams will be given. Students who discover that they might not be able
to attend the exam should notify the instructor in advance and in person specifying
the purpose behind their inability to attend.

v Students are responsible for the work that is covered and for any announcements
that are made during their absence.

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Tentative Course Schedule

Chapter Rough Time Estimate

Chapter 1: The Scope and Method of 2 sessions

Economics
Chapter 2: The Economic Problem: 3 sessions
Scarcity and Choice
Chapter 3: Demand, Supply, and Market 3 sessions
Equilibrium
Chapter 4: Demand and Supply 1 sessions
Applications
Chapter 5: Elasticity 2 sessions

Chapter 6: Household Behavior and 3 sessions

Consumer Choice
MIDTERM EXAM On Chapters 1 to 6

Chapter 20: Introduction to 1 session

Macroeconomics
Chapter 21: Measuring National Output 3 sessions
and National Income
Chapter 22: Unemployment, Inflation 2 sessions
and Long-Run Growth
Chapter 23: Aggregate Expenditure and 3 sessions
Equilibrium Output
Chapter 24: The Government and Fiscal 3 sessions
Policy
FINAL EXAM As Scheduled by the On Chapters 20 to 24
University

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