Week |
Subject |
Related Preparation |
1) |
Ten Principles of Economics: Trade-offs, Costs, Rationality, Opportunity Cost, Market Economies, Government Interventions, Inflation |
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2) |
Thinking like an Economist: Economics as a Science, Assumptions and Models, Micro and Macroeconomics, Positive and Normative Analysis. |
|
3) |
Interdependence and Gains From Trade: Production Possibilities, Absolute And Comparative Advantages |
|
4) |
The Market Forces of Demand and Supply: The Nature of a Competitive Market, Individual and Market Demand, Individual and Market Supply, Equilibrium and Changes in Equilibrium |
|
5) |
Elasticity and its Applications: Price Elasticity of Demand and its Computation, Total Revenue and Elasticity of Demand, Price Elasticity of Supply and its Computation |
|
6) |
Supply, Demand and Government Policy: Price Controls, Price Floors & Ceilings, Taxes |
|
7) |
Review |
|
8) |
Consumers, Producers and the Efficiency : Consumer & Producer Surplus, Market Efficiency |
|
9) |
The Costs of Taxation: The Deadweight Loss of Taxation, the Determinants of the Deadweight Loss, Tax Revenue, Laffer Curve |
|
10) |
International Trade: The Determinants of Trade, Effects of Tariff and Quota |
|
11) |
Externalities & Public Goods: Externality, Internalizing Externality, Transaction Costs, Public Goods, Private Goods, Common Resources, Free Rider |
|
12) |
The Costs of Production: Total Revenue, Total Cost and Profit, Production Function, Fixed and Variable Costs, Average and Marginal Costs, Cost Curves, Costs in the Short Run and in the Long Run |
|
13) |
Firms in Competitive Markets: Profit Maximization & the Competitive Firm’s Supply |
|
14) |
Monopoly: Monopolies’ Production and Pricing Decisions, Profit Maximization, Monopolies’ Profit, Welfare Cost of Monopoly, Public Policy Toward Monopolies, Price Discrimination, Oligopoly: Game Theory and the Economics of Cooperation, Public Policy Toward Oligopolies |
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|
Program Outcomes |
Level of Contribution |
1) |
Apply scientific methods or concepts in solving aviation-related problems |
3 |
2) |
Analyze and interpret data |
5 |
3) |
Work effectively on multi‐disciplinary and diverse teams |
5 |
4) |
Make professional and ethical decisions |
3 |
5) |
Communicate effectively, using both written and oral communication skills |
4 |
6) |
Engage in and recognize the need for life‐long learning |
5 |
7) |
Use the techniques, skills, and modern technology necessary for professional practice |
4 |
8) |
Assess the national and international aviation environment |
3 |
9) |
Apply pertinent knowledge in identifying and solving contemporary problems in the field of aviation |
3 |
10) |
Apply knowledge of business sustainability to aviation issues |
3 |