Elementary Economics for Geographers

Course Description

Objectives

This course offers an introduction to the fundamental principles of Economics, with a particular focus on presenting core economic concepts and tools necessary for understanding spatial-economic relationships.

It covers the basic foundations of both Microeconomics and Macroeconomics. Microeconomics focuses on individual economic units—such as households, firms, and sectors—examining their behavior and decision-making processes. Macroeconomics, on the other hand, deals with the economy as a whole, analyzing aggregate indicators such as GDP, inflation, and unemployment.

By the end of the course, students will be able to:

– Be familiar with and use key economic concepts and tools.

– Understand how the economy functions.

– Analyze and interpret current economic issues at both national and global levels.

– Appreciate the importance of space and geography in economic analysis.

Content

Introduction to Economics – Demand, Supply and Market Prices – Elasticities – Theory of Production and Costs – Market Structures – Measurement of Macroeconomic Indicators – Public Sector Economics – Consumption and Saving – Investment – Fiscal Policy – Money, Banking, and Monetary Policy.

Teaching & Assessment

The course is taught for three (3) hours per week. Student assessment is based on written examinations conducted both mid-semester and at the end of the term.