Economics for Engineers

Објавено: October 12, 2018
  1.    Course Title Economics for Engineers
  2.    Code 3ФЕИТ09Л007
  3.    Study program EES
  4.    Organizer of the study program (unit, institute, department) Faculty of Electrical Engineering and Information Technologies
  5.    Degree (first, second, third cycle) First cycle
  6.    Academic year/semester III/6   7.    Number of ECTS credits 6.00
  8.    Lecturer Dr Vesna Borozan
  9.    Course Prerequisites
10.   Course Goals (acquired competencies):  This course is designed to provide an insight in the microeconomic principles underlying the introduction of competition, theory of firm, market models, as well as in the basic models of regulation of natural monopolies.
11.   Course Syllabus: Basic concepts from economics: microeconomics and macroeconomics. Basic concepts from market economics: Modeling of the consumption and production; Marginal production, Marginal cost; Producers’ revenue; Elasticity of supply; Market equilibrium, Global welfare and deadweight loss. Concepts from the theory of the firm:  Long run and short run approach; Costs. Types of electricity markets: Spot market, Forward contracts and forward markets, Future contracts and futures markets; Options; Contracts for difference. Competition: Why competition? Markets with imperfect competition and market power; Models of imperfect competition- need for protection of competition and regulation. Definition of network energy, with focus on electricity; Natural monopolies in the electricity sector. Regulatory approaches; Costs; Revenues; Return of capital investments and pricing of network services.
12.    Learning methods:  Lectures and recitations with presentations and simulations, teacher-student interaction, homework, projects.
13.    Total number of course hours 3 + 2 + 0 + 0
14.    Distribution of course hours 180
15.    Forms of teaching 15.1. Lectures-theoretical teaching 45
15.2. Exercises (laboratory, practice classes), seminars, teamwork 30
16.    Other course activities 16.1. Projects, seminar papers 30
16.2. Individual tasks 30
16.3. Homework and self-learning 45
17.    Grading 17.1. Exams 20
17.2. Seminar work/project (presentation: written and oral) 20
17.3. Activity and participation 10
17.4. Final exam 50
18.    Grading criteria (points) up to 50 points     5 (five) (F)
from 51 to 60 points     6 (six) (E)
from 61 to 70 points     7 (seven) (D)
from 71 to 80 points     8 (eight) (C)
from 81 to 90 points     9 (nine) (B)
from 91 to 100 points   10 (ten) (A)
19.    Conditions for acquiring teacher’s signature and for taking final exam Participation in lectures and recitations.
20.  Forms of assessment During the semester, there are two mid/end-term exams (120 min each). Besides these exams, any student must complete and submit the required homework and seminar assignments, according to the schedule published at the course web site.
The final mark is determined from the weighted average of scores from the exams, homework, and seminar assignments.
During the exams, it is not allowed to use any literature in printed or electronic form. Calculators are allowed, but not mobile phones, tablets or similar electronic devices
21.    Language Macedonian and English
22    Method of monitoring of teaching quality Internal evaluation and questionnaires.
23.    Literature
23.1. Additional Literature
No. Author Title Publisher Year
1 Dubravko Sabolic  Uvod u mikroekonomiku  FER, Zagreb – Skripta  2014
2  Dubravko Sabolic  Drzavna regulacija industruje  FER, Zagreb – Skripta  2015
3  N.Gregory Mankiw

Principles of Microeconomics

  Cengage Learning  2015