Foundational Level Course

Principles of Economics

This course will focus on gaining a foundational understanding of economics through current issues. This course teaches core principles and analytical methods, empowering students to evaluate major economic problems. Part 1: Microeconomics examines market interactions (supply/demand), policy assessment, trade controversies, and firm decisions. Part 2: Macroeconomics analyzes the whole economy: GDP, inflation, unemployment, money. The focus is on economic reasoning as a powerful tool for judgment.

Taught by Subash S.

Code BSMS1201

Credits 4 Credits

Type Foundational

Prerequisites None

12-Week Roadmap

Course Structure & Syllabus

For details of standard term assessment timelines and exam structures, visit our Academics page.

WEEK 1

Introduction and basic principles

WEEK 2

Models of Supply and Demand

WEEK 3

Elasticity and Application

WEEK 4

Consumer surplus and producer surplus

Reading List

Prescribed Books & References

Gregory Mankiw (2024) Principles of Economics, Cengage, 10th edition.
John Taylor, Akila Weerapana (2023) Principles of Economics, Version 9.0, Flatworldknowledge.
Daron Acemoglu, David Laibson, John List, (2020) Economics, Cengage, 7th Edition.

Faculty & Experts

About the Instructors

Subash S.

Professor , Department of Humanities and Social Sciences , IIT Madras

Subash S. is Professor [Economics] at the Department of Humanities and Social Sciences, Indian Institute of Technology Madras.His research interests include small firms and industrial development, innovation and technological change, and international trade. His research work has been published in leading international journals including World Development, Research Policy, Industrial and Corporate Change, Economic Modelling etc. He is also co-author of the book titled Small Firm Ownership and Credit Constraints in India published by Routledge. He has undertaken numerous research projects for. ADBI, ERIA Jakarta, AIM Manila, ICSSR, Ministry of Corporate Affairs.

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