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Details of Course
Course Name: PRINCIPLES OF ECONOMICS
Course Code: MII 103
Name(s) of academic staff: YUSUF BIN HAJI OTHMAN
Rationale for the inclusion of the course/module in the programme:

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This course is included in the programme because economics is of practical value in business and banking. An understanding of economics
enables the graduates to gather and interpret economic information upon which rational business decisions can be made.
Semester and year taught:
Face to Face
L=Lecture, T=Tutorial, P=Practical O=Others*

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Total Student
Learning Time
(SLT)

*site visit, seminar, workshop, project etc.

L
T
P
42
0
0

Total Guided and Independent Learning

O
8

Guided
50

Independent
76

126 /42 = 3 Credits

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Credit Value: 3
Prerequisite: None
PEO (Program Educational Objective)
In their careers, our graduates will:
PEO 1

Able to apply theoretical and practical Islamic banking knowledge in business environment.

PEO 2

Able to incorporate values, work ethics and business practices in multi-cultural environment.

PEO 3

Able to communicate effectively to various stakeholders.

Course Learning Outcomes:

At the end of the course, students should be able to:
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CLO 1

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Explain the basic concept of conventional and Islamic economic theory and analyze current issues from economic point of
view.

CLO 2

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Obtain basic knowledge in conventional and Islamic economics to prepare them for making rational business decisions.

CLO 3 : Interpret economic information upon which rational business decisions can be made.
Transferable Skills:
Team work, Effective Written and Oral communication skills
Teaching-learning and assessment strategy:
Lecture, Assignment, Group Assignment , Quizzes, Presentation, Examination
Synopsis:
This course will give exposure to students on the principles of conventional and Islamic economics. The topics to be discussed include
introduction, demand and supply, market equilibrium, theory of consumer behavior, theory of production, cost of production, market structure,
national income accounting, national income equilibrium, macroeconomic problems, Islamic economic system and money according to
maqasid al-shariah.
Mode of Delivery:
Lecture, Discussion
Assessment Methods and
Types:

Quiz 1
Quiz 2
Assignment
Mid Term Exam
Final Exam

5%
5%
20%
30%
40%

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Additional references supporting the course:

Vengedasalam, Deviga & Madhavan, Karunagaran (2010), Principles of Economics, 2nd Edidtion, Oxford, Malaysia

Zubair Hasan, Habibah Lehar (2009), Macroeconomics, 1st Edition, Oxford, Malaysia

Dornbusch, Rudiger & Fischer Stanley (1994), Macroeconomics, 6th Edidtion, McGraw Hill, International Edition. Vengedasalam, Deviga
& Madhavan, Karunagaran (2010), Principles of Economics, 2nd Edidtion, Oxford, Malaysia
Other additional information: