PRINCIPLES OF ECONOMICS

About this Course

  • 794 students enrolled
  • 9 instructors

Course Description

This course is intended to provide an introduction to basic ideas of economics and focus on student learning by applying the central ideas used in economic analysis. It is also aimed to provide the students with general knowledge of the factors of economic affecting the construction industry.

Course Learning Outcomes

1 ) To prepare a market demand and supply report by using macroeconomics and microeconomics theories in relation with construction industry entrepreneurial . ( A4 )
2 ) To employ the principles of macroeconomics and microeconomics theories, in the practice of quantity surveying. ( C3 )
3 ) To reproduce calculations on market equilibrium, elasticity of demand and supply and national income, related to quantity surveying practice. ( P3 )

Course Details

STATUS : Open
DURATION : FLEXIBLE
EFFORT : 2 hours per week
MODE : 100% Online
COURSE LEVEL : Beginner
LANGUAGE : English
CLUSTER : Science & Technology ( ST )

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 Syllabus

·      Definition of economics.
·      Macroeconomics versus microeconomics.
·      Concepts of scarcity, opportunity costs and choices.
·      Factors of production and fundamental economics questions.


·      Define demand & law of demand.
·      Distinctions between changes in quantity demanded and changes in demand.
·      Determinants of demand.
·      Define supply & law of supply.
·      Distinctions between changes in quantity supply and changes in supply.
·      Determinants of supply.
·      Price Elasticity of Supply (Definition, calculation, interpretations & determinants)

·      Changes in market equilibrium
·      Effects of government intervention in the markets

·      Definitions and functions of monetary system and fiscal policy and other related
policies affecting the construction industry.

·      Definition of national income.
·      Measuring national income and output by using expenditure, income and output
approach.
·      GDP and living standards – problem of interpretation
·      Uses of national income, difficulties in calculating national income.

·      Sources and measures of economic growth (Real, nominal & per capita income)
·      Phases of business cycle
·      Factors affecting a business cycle
·      Types, causes and effects of unemployment

·      Definition of inflation.
·      Types of inflation – demand-pull and cost-push.
·      Effects of inflation – gainers and losers.

·      Differences between domestic and international trade.
·      Advantages / gains of international trade.
·      Tools of protectionism.
·      Reasons of protectionism.

Our Instructor

NUR FARHANA BINTI NASRI

 Course Instructor
UiTM Kampus Tapah

PROFESOR MADYA DR MOHD ZAKI BIN AWANG CHEK

 Course Instructor
UiTM Kampus Tapah

DR. ZARUL AZHAR BIN NASIR

 Course Instructor
UiTM Kampus Sri Iskandar

NOR ZARINA BINTI MOHD SALIM

 Course Instructor
UiTM Kampus Sri Iskandar

HAJAH KURSIMAH BINTI HAJI HARUN

 Course Instructor
UiTM Kampus Sri Iskandar

NOORMAHAYU BINTI MOHD NASIR

 Course Instructor
UiTM Kampus Sri Iskandar

 Frequently Asked Questions

A1 : The study of economics can provide valuable knowledge in making decisions in everyday life.