Syllabus Of Subjects

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ECO 110 Principles of Economics Introduction to Economics Definition, the economic problem, types of economic systems Demand for Goods and Services Classification of goods and services, effective demand, exceptional demand, elasticity of demand Supply of Goods and Services Law of Supply, changes in supply and change in quantity supplied, exceptional supply, interrelated supply, elasticity of supply Equilibrium Price Determination of equilibrium price, effects of changes in demand and supply on price, applications of demand and supply concept, government intervention, price controls Introduction to Macroeconomics Money and Banking What is money and functions of money, value of money and consumer price index, commercial banks, Islamic Bank, Central Bank National Income Concepts of income and wealth, circular flow of income, national income accounting, the importance of national income data, concepts of income and wealth in Islam ECO 161 Microeconomics Economic Systems Consumer Behaviour and Utility Maximization The concept of rationality, untility maximization using cardinal and ordinal approach, theory of consumer behaviour from the Islamic perspective Production Theory Classification of factors of production, producer's objectives and responsibility, short run and long run production functions, Law of Diminishing Returns Costs of Production Economic costs, production costs, short run average cost curve, production costs int he long run, long run average cost curve, Law of Returns to Scale, revenue concepts Theory of Firms and Market Structures Economic and accounting profits, profit maximization, perfect competition, monopoly, monopolistic competition, oligopoly The Markets for Factors of Production and Theory of Distribution Payments to factors of production, types of rent and determination of rent, determination of interest, determination of wages and level of employment, distribution of income and wealth ECO 210 Macroeconomics Conventional and Islam Macroeconomic Objectives Keynesian Economics National income equilibrium, consumption in Islam and its effects on equilibrium income, autonomous investment and its effects on equilibrium income, equilibrium income determination in a 2-sector and a 3-sector economy, foreign sector, inflationary and deflationary gaps Theory of Investment Investment expenditure, investment function, investment and accelerator principle Monetary Economics Money and banking, money supply, Keynesian motives of demand for money, relationship between money supply and general price level, Islamic financial institutions Macroeconomics problem of inflation and unemployment Inflation, unemployment Public Finance Sources of government revenue, goverment economic policies International Trade and Finance Theory of international trade, balance of payment, exchange rate systems, exchange rate in Islam, roles of IMF and World Bank ECO 260 Malaysian Economics Introduction to Economic Development Background of Economic Development in Malaysia Study of the economic structure by sector, contribution of each sector to the GDP, GNP, employment and trade, the historical aspects of the expansion of the Malaysian economy, New Economic Policy, National Development Policy, Vision 2020 Poverty Rural and urban poverty, hardcore poverty Income Distribution in Malaysia Income distribution by ethnic group, sector, employment and state, measures to reduce uneven income distribution, poverty and income distribution from Islamic standpoint, measures to eradicate poverty Agricultural Development Rationale, problems, plans, roles of agencies such as FELDA, FELCRA and FAMA Industrial Development Objectives, problems, Industrial Master Plan Tertiary Sector in Malaysia The public and private sector Population, Employment and Manpower Development Population size, employment by sector, labor force, employement and unemployment, current problems with labor force and unemployment, manpower planning, 70 million population policy