COURSE OUTLINE Doc No: PD-ACAD-F006

Ver. No: A
ECONOMICS Rev date: 10/6/2024

DEPARTMENT: ……………………………BUSINESS STUDIES ………………………..

………………………………………………….…………….
COURSE: ……………DIPLOMA IN BUSINESS MANAGEMENT
………………………………………………….…………………………………….
………………………….
LECTURER…………PAUL KAMITU……………………………… E:
MAIL……………………[Link]@[Link] ………………………………..…………
APPROVED CONTACT HOURS………30 HOURS ……………………… EXAM
BODY………………KNEC …………………

1. UNIT DESCRIPTION
The purpose of economics is to understand how an economic system works, to assess its
strengths and weaknesses, and to resolve economic problems.
2. OBJECTIVES
To understand how scarce resources are exchanged within society.
study theories and techniques useful for developing policies in government as they have a
deep understanding of how to create efficiency in today's world
3. TOPICS & SUB TOPICS

TOPIC 1. Introduction to economics

 Discuss the scope of economies
 Discuss the meaning of economies
 Human wants
 Economic resources
 Concept of scarcity and choice
 Economic systems

TOPIC 2. Demand analysis

 Concept on demand
 Factors affecting the demand of product
 Demand curve derivation
 Shift and movement along the demand curve
 Definition of elasticity of demand
 Types of elasticity of demand

Prepared by :……….NAME OF TRAINER………..

 COURSE OUTLINE Doc No: PD-ACAD-F006
Ver. No: A
ECONOMICS Rev date: 10/6/2024

DEPARTMENT: ……………………………BUSINESS STUDIES ………………………..

………………………………………………….…………….
COURSE: ……………DIPLOMA IN BUSINESS MANAGEMENT
………………………………………………….…………………………………….
………………………….
LECTURER…………PAUL KAMITU……………………………… E:
MAIL……………………[Link]@[Link] ………………………………..…………
APPROVED CONTACT HOURS………30 HOURS ……………………… EXAM
BODY………………KNEC …………………

TOPIC 3. SUPPLY ANALYSIS

 Concept of supply
 Factors affecting supply of product
 Supply curve derivation
 Shift and movement along supply curve.
 Elasticity of supply
 Types of elasticity of supply

TOPIC 4. PRICE DETERMINATION

 Definition of price
 Determination of price
 Equilibrium possession in the market
TOPIC 5. PRODUCTION THEORY
 Production process
 Purpose of production
 Factors of production
 Levels of production
 Law of diminishing return
TOPIC 6. Theory of the firm

Prepared by :……….NAME OF TRAINER………..

 COURSE OUTLINE Doc No: PD-ACAD-F006
Ver. No: A
ECONOMICS Rev date: 10/6/2024

DEPARTMENT: ……………………………BUSINESS STUDIES ………………………..

………………………………………………….…………….
COURSE: ……………DIPLOMA IN BUSINESS MANAGEMENT
………………………………………………….…………………………………….
………………………….
LECTURER…………PAUL KAMITU……………………………… E:
MAIL……………………[Link]@[Link] ………………………………..…………
APPROVED CONTACT HOURS………30 HOURS ……………………… EXAM
BODY………………KNEC …………………

 Distinction between a firm and an industry

 Cost of production
 Concept of revenue
 Economies and diseconomies of scale
 Optimal size of a firm
TOPIC 7. Market structure
 Definition of market
 Types of market structure
 Need for control of power in market structure
 Ways of controlling power in different market structure.
TOPIC 8. National income
 Definition of national income
 Concept of national income
 Circular flow of national income
 Methods of measuring national income
 The importance of national income statistics
 Factors affecting national income
 Causes of national income disparities
 National income equilibrium
TOPIC 9. Money and Banking
 Definition of money
 Characteristics of money

Prepared by :……….NAME OF TRAINER………..

 COURSE OUTLINE Doc No: PD-ACAD-F006
Ver. No: A
ECONOMICS Rev date: 10/6/2024

DEPARTMENT: ……………………………BUSINESS STUDIES ………………………..

………………………………………………….…………….
COURSE: ……………DIPLOMA IN BUSINESS MANAGEMENT
………………………………………………….…………………………………….
………………………….
LECTURER…………PAUL KAMITU……………………………… E:
MAIL……………………[Link]@[Link] ………………………………..…………
APPROVED CONTACT HOURS………30 HOURS ……………………… EXAM
BODY………………KNEC …………………

 Functions of money
 Demand and supply of money
 Meaning of banking
 Function of commercial banks
 Function of central banks
 Function of non-banking financial institutions.
TOPIC 10. Public finance
 Definition of public finance
 Principles of public finance
 Defects of government expenditure
 Sources of government revenue
 Purposes of taxation
 Principles of taxation
 Types of taxes
 Meaning of fiscal policy
 National budget
TOPIC 11. Inflation
 Definition of inflation
 Types of inflation
 Causes of inflation
 Effects of inflation
 Measures used to control inflation

Prepared by :……….NAME OF TRAINER………..

 COURSE OUTLINE Doc No: PD-ACAD-F006
Ver. No: A
ECONOMICS Rev date: 10/6/2024

DEPARTMENT: ……………………………BUSINESS STUDIES ………………………..

………………………………………………….…………….
COURSE: ……………DIPLOMA IN BUSINESS MANAGEMENT
………………………………………………….…………………………………….
………………………….
LECTURER…………PAUL KAMITU……………………………… E:
MAIL……………………[Link]@[Link] ………………………………..…………
APPROVED CONTACT HOURS………30 HOURS ……………………… EXAM
BODY………………KNEC …………………

TOPIC 12. International trade

 Definition of international trade
 Importance of international trade
 Advantage and disadvantage of international trade
 Theories of comparative advantage and absolute advantage
 Balance of trade
 Balance of payment
 Barriers to international trade
 Exchange rate systems
 Economic integration
 Function of international monetary fund (IMF) and worldwide

TOPIC 13. Population and unemployment

 Definition of population
 Population growth
 Effect of population growth
 Meaning of unemployment
 Types of unemployment
 Causes of unemployment
 Solutions to unemployment

TOPIC 14. Economic growth and development

Prepared by :……….NAME OF TRAINER………..

 COURSE OUTLINE Doc No: PD-ACAD-F006
Ver. No: A
ECONOMICS Rev date: 10/6/2024

DEPARTMENT: ……………………………BUSINESS STUDIES ………………………..

………………………………………………….…………….
COURSE: ……………DIPLOMA IN BUSINESS MANAGEMENT
………………………………………………….…………………………………….
………………………….
LECTURER…………PAUL KAMITU……………………………… E:
MAIL……………………[Link]@[Link] ………………………………..…………
APPROVED CONTACT HOURS………30 HOURS ……………………… EXAM
BODY………………KNEC …………………

 Meaning of economic growth and economic development

 Factors determining growth and development
 Need for development planning.
TOPIC 15. Emerging trends and issues in economics
 Emerging
 Challenges posted by emerging trends and issues in Economics
 Approaches to emerging trends and issues in Economics

4. ASSESSMENT
 Class Attendance …..10%
 Formative Assessment …….20%
 Summative Assessment ……70%
5. READING
 Recommended Text

1. Modern economics second edition Robert Mudida 2014

 Alternative Text

2. Simplified Economics by Sababu 2011

Prepared by :……….NAME OF TRAINER………..