The course introduces the basic concepts in economics. Special
emphasis is given To understand economic thinking and its limitations with special reference to the field of urban and regional planning. The topics discussed in the course come from the worlds of microeconomics and macroeconomics. Among the other topics included in the course: the scarcity problem, the return curve, alternative cost, relative and absolute advantage, consumer theory and utility theory, producer theory, demand and supply, monopoly, government intervention in markets, national accounting, the Keynesian model and fiscal and monetary policy. Also, the course presents basic quantitative tools for making planning decisions.