CV Economics Final2018

Economic Issues
Course code: BBSSM1103
CURRICULUM
VOCATIONAL EDUCATION DIPLOMA PROGRAM
Course Description
Course Name: Economic Issues Course Code: BBSSM1103

Pre requisite: PF Credit Hr: 3
Passing Grade: C- Level: Diploma Year 2017 - 2018
Theory Hours: 6 Practical Hours: -
Course Learning Objectives:
1. The ability to understand the meaning of economics and to recognize the
meaning of micro and macro economics effectively.
2. To understand the components of economics like supply, demand, law of motion
& elasticity.
3. The ability to learn theory on consumer behavior and recognize the main idea of
budget line in economy.
4. To be able to recognize individual market demand curve, consumption curve and
to get a clear understanding on classification of goods with the help of case
studies.
5. To understand the factors of production and get an in depth knowledge on law of
diminishing returns.
6. To get emanate knowledge on cost of production and they play role in the market.
7. To understand the concept of profit maximization and its use in economic
analysis.
Competency Learning Outcomes:
Upon completion of the above mentioned leaning outcomes / competencies the
student should be able to:
1. Explain the nature of economics,
2. Distinguish between a good and a service,
3. Distinguish between consumer and capital goods and services,
4. Identify types of product utility,
5. Explain the concept of profit,
6. Explain the concept of supply and demand and
7. Explain the effect of competition on buyers and sellers.
Page | 2
DELIVERY PLAN
Contact Outcom
Chapters Topics Week
hour N0 covere
Foundation to Economics
1. Wants
1 2. Economic and non-economic wants; 1&2 12 1
3. Goods and services
Economics Concepts
1. Definition of Economics.
2 2. Origin of Economics. 3 12 2
3. Micro & Macroeconomics
QUIZ-1 4 6
Basics of Supply & Demand
1. Function of Demand.
3 2. Function of Supply. 5, 6 & 7 12 3
3. Market Equilibrium.
4. Elasticity.
MID Exam 8 6
Consumer Behavior
1. Introduction
2. Demand and Consumer behavior.
4 9 6 4
3. Consumer choice and utility.
4. Budget line & Indifference Curve
5. Extra Curriculum.
Production & Cost of Production
1. Production Function.
2. Isoquants:
3. Isocost Lines/Outlay Line/Price Line/Factor
Cost Line:
5 4. Marginal Rate of Technical Substitution 10 & 11 12 5
(MRTS):
5. Optimum Factor Combination:
6. Mathematic approach of the production
function
Quiz -2 12
Page | 3
Lesson Plan
Chapter-1 : Foundation to Economics
COURSE TITLE Foundation to Economics COURSE CODE BBSSM1103
PRE-REQUISITE None CREDIT HOURS 3
PASSING GRADE C- Semester 1 Year 1
THEORY HOURS 6 PRACTICAL HOURS -
COURSE LEARNING OUTCOMES/COMPETENCIES: Upon completion of this course, the students

should be able to understand the meaning of need and want, identify economic and non-
economic want and have to differentiate the goods and services
COMPETENCY LEARNING OUTCOMES:
Upon completion of the competency, the student should be able to:
TERMINAL LEARNING LEARNING EXPERIENCES: METHODOLOGIES: ASSESSMENT

OUTCOMES: METHODS & TOOLS:
Understand the
1. Wants 1. Lecture by
meaning of need teacher
2. Economic and non-
and wants, goods economic wants; 2. Class discussion  Handout.
and services. 3. Goods and services conducted by  Worksheet.
teacher
3. Student reports
by individuals
PERFORMANCE CONDITIONS:
LEARNING LOCATION: ( ) workshop, ( ) classroom, ( ) in-campus-training

TOOLS, EQUIPMENT, & MACHINES: WHITE BORD- Board markers, projector.
Learning materials:
 Text books : Principles of Economics by N. Gregory Mankiw
 References:
Page | 4
Lesson Plan
Chapter-2 : Economic Concepts

COURSE TITLE Economic Concepts COURSE CODE BBSSM1103

should be able to understand the meaning of economics and to recognize the meaning of
micro and macro economics effectively.
Upon completion of the competency, the student should be able to:

OUTCOMES: METHODS & TOOLS:
Understand the
1. Definition of Economics.  Lecture by
meaning of teacher
2. Microeconomics
economics and  Class discussion  Handout.
3. Macroeconomics.
recognize the conducted by  Worksheet.
meaning of micro teacher  Case study.
and  Student reports
macroeconomics by individuals
effectively.

Learning materials:
 References:
Page | 5
Lesson Plan
Chapter-3 : Demand and Supply

COURSE TITLE BASICS OF SUPPLY & DEMAND COURSE CODE BBSSM1103

should be able To understand the components of economics like supply, demand, law of
motion & elasticity.
Upon completion of the competency,( BASICS OF SUPPLY & DEMAND) the student should be able to:

OUTCOMES: METHODS & TOOLS
1. Understand the
components of 1. Function of Supply. 1. Lecture by
economics like 2. Function of Demand. teacher
3. Elasticity. 2. Class discussion  Handout.
supply, demand.  Worksheet.
 Elasticity of Demand. conducted by
2. Define and  Case study.
 Elasticity of Supply. teacher
calculate elasticity 3. Student reports
of demand –  Income elasticity of
by individuals
income elasticity. Demand.
4. Exercises & applications.

Learning materials:
 References:
Page | 6
Lesson Plan
Page | 7
Chapter-4 : Consumer Behaviour
COURSE TITLE Consumer Behavior COURSE CODE BBSSM110
THEORY HOURS 2 PRACTICAL HOURS 2

should be able To learn theory on consumer behavior and recognize the main idea of
budget line in economy.

Upon completion of the competency,( Consumer Behavior ) the student should be able to:

The ability to
learn theory on 1. Lecture by
1. Theory of Consumer Behavior. teacher 1. Handout.
consumer
2. Budget line. 2. Class discussion 2. Worksheet.
behavior and 3. Utility & Indifference curve. conducted by 3. Case study.
recognize the 4. Consumer choice and utility. teacher
main idea of 3. Student reports
budget line in by individuals
economy.

Learning materials:
 References:
Lesson Plan
Page | 8
Chapter-5 : Production and Cost of Production
COURSE TITLE Production COURSE CODE BBSSM1103
THEORY HOURS 2 PRACTICAL HOURS 2

should be able To get emanate knowledge on cost of production and they play role in
the market.

Upon completion of the competency,( production ) the student should be able to:

Define factors of a) Factors of production. 1. Lecture by

b) Law of diminishing returns. teacher
production.
2. Class discussion 1. Handout.
c) Marginal rate of technical
Explain law of conducted by 2. Worksheet.
substitution. teacher
diminishing 3. Case study.
d) Variable Cost (VC). 3. Presentation by
returns. e) Fixed Cost (FC). students
f) Total Cost (TC). 4. Student reports
Cost and cost of g) Marginal Cost & Average by individuals
production Cost.

Learning materials:
 References:
Page | 9
List of some assessment methods used by business department
Business Studies departments assessment methods Business
Short Quizzes 20%
Mid semester exam. 20%
Final exam 50%
Project reports and presentations
10%
Assignments
Practical activities
Total 100%
Page | 10

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Economic Issues

Course code: BBSSM1103

Course Name: Economic Issues Course Code: BBSSM1103

COURSE LEARNING OUTCOMES/COMPETENCIES: Upon completion of this course, the students

TERMINAL LEARNING LEARNING EXPERIENCES: METHODOLOGIES: ASSESSMENT

LEARNING LOCATION: ( ) workshop, ( ) classroom, ( ) in-campus-training

Chapter-2 : Economic Concepts

COURSE LEARNING OUTCOMES/COMPETENCIES: Upon completion of this course, the students

TERMINAL LEARNING LEARNING EXPERIENCES: METHODOLOGIES: ASSESSMENT

LEARNING LOCATION: ( ) workshop, ( ) classroom, ( ) in-campus-training

Chapter-3 : Demand and Supply

COURSE LEARNING OUTCOMES/COMPETENCIES: Upon completion of this course, the students

TERMINAL LEARNING LEARNING EXPERIENCES: METHODOLOGIES: ASSESSMENT

LEARNING LOCATION: ( ) workshop, ( ) classroom, ( ) in-campus-training

COURSE LEARNING OUTCOMES/COMPETENCIES: Upon completion of this course, the students

COMPETENCY LEARNING OUTCOMES:

TERMINAL LEARNING LEARNING EXPERIENCES: METHODOLOGIES: ASSESSMENT

LEARNING LOCATION: ( ) workshop, ( ) classroom, ( ) in-campus-training

COURSE LEARNING OUTCOMES/COMPETENCIES: Upon completion of this course, the students

COMPETENCY LEARNING OUTCOMES:

TERMINAL LEARNING LEARNING EXPERIENCES: METHODOLOGIES: ASSESSMENT

Define factors of a) Factors of production. 1. Lecture by

LEARNING LOCATION: ( ) workshop, ( ) classroom, ( ) in-campus-training

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