The purpose of the course of economic theory is the study by the students the basic concepts, principles and laws of the market economy as the main factor of the well being of the country and society as a whole.
Course objectives: creating a holistic view of students about economics as a science which allows them to have their own ideological position, to assess the best theoretical and methodological approaches in the field of economic theory and use this knowledge in practice, as well as the study of special subjects in Economics, Management, Finance and etc.
By the end of the course students must acquire:
● the structure of economic systems and classification systems in accordance with various criteria;
● the main directions of economic development schools;
● key factors and trends of the market economy in current conditions;
● types of economic policies used by governments
to regulate the economy.
6. CONTENT OF THE DISCIPLINE
6.1. List of lectures
| Name of themes | The volume per hour | References | The current control, the rate of score |
| Theme 1. Subject and method of economic theory1.Economic needs, economic benefits and economic resources. The problem of economic choice 2. The subject of economic theory. 3. Methods and functions of economic theory Theme 2. Fundamentals of social production 1. The bases of social production 2. Structure of social production 3 Types of economic systems Theme 3. Property relations and their role in the economy 1.Economic and legal content and Property 2.The main forms of social economy 3. Deregulation and privatization in Kazakhstan Theme 4. Foundations of a market economy and entrepreneurship 1. The forms of social economy. Commodity economy 2. The nature and function of the market 3.The essence of entrepreneurship and its feature Theme 5. Fundamentals of the theory of supply and demand1. Demand. Factors determining the demand. 2. Supply. The law of supply 3. The interaction of supply and demand. Market equilibrium 4. Elasticity and its types 5.The theory of consumer behavior Theme 6. Competition and Monopoly1.The essence of competition. The theory of perfect and imperfect competition. 2. The theory of monopoly. 3. Antitrust and competition policy Theme 7. Circuit and the turnover of capital (funds) of the enterprise 1.The reproduction process of the capital 2.Basic and working capital. 3. Investments as a source of financing of productive assets. Theme 8. Costs and revenues of the enterprise (company)1. Nature and types of costs. 2. Revenue and its types 3. Profit and its role in the development of the company Theme 9. Factor markets and the formation of factor revenue1. Peculiarities of demand for resources. 2. Labor market and wage 3. Capital markets and interest rates. 4. The land market. Land rent. Theme 10. The national economy as a system1.National economy as a system 2. System of national accounts 3.Methods of measuring GNP Theme 11. Macroeconomic equilibrium 1.Macroeconomic equilibrium and its characteristics. 2. Models of employment resources Theme 12. Cyclical economic development and economic growth 1. Cyclical development of a market economy. 2. The economic cycle and its variants 3. The concept of economic growth and its measurement Theme 13. Unemployment and inflation are both manifestations of economic instability1. Essence and basic forms of unemployment 2. The effect of unemployment rate on the value of GNP. Okun's Law 3.Inflation and its causes Theme 14. The main directions of economic policy1. Concept and types of monetary systems 2. The demand for money and the money supply 3. The essence of financial system 4. State budget and public debt. 5. The principles and forms of taxation 6.International relationships: the nature, forms | basic literature 1,3,4,9 Additional literature 2,5,9 b.l. -1,3,4,9,10 A.l. 2,5,9,8 b.l -1,3,4,9 A.l. 2,5,9,3 b.l. -1,3,4,9 A.l. 2,5,9,10 b.l. -1,3,4,9 A.l. 2,5,9,8,11 b.l. -1,3,4,9 A.l. 2,5,9 b.l. -1,3,4,9 A.l. 2,5,9 b.l. -1,3,4,9,10 A.l. 2,5,9 b.l. -1,3,4,9 A.l. 2,5,9,12 b.l. -1,3,4,9 A.l. 2,5,9 b.l. -1,3,4,9,11 A.l. 2,5,9 b.l. -1,3,4,9 A.l. 2,5,9,4 b.l. -1,3,4,9 A.l. 2,5,9, 11 b.l. -1,3,4,9 A.l. 2,5,9, 11 | 0,3 0,3 0,3 0,6 0,3 0,3 0,3 0,6 0,3 0,3 0,3 0,3 0,7 0.8 |
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6.2 LIST OF LABORATORY AND PRACTICAL STUDIES
| Name of topic | The volume per hour | References | The current control, the score |
| Theme 1. Subject and method of economic theory, 1.The subject of economics. 2. Concept "methodology" and methods of research in economic theory. 3. Basic direction of economic science Theme 2. 1. Methods of production and two of its sides 2. Production and reproduction 3. Types of economic systems and the solution of fundamental problems of the economy. Theme 3. Property relations and their role in the economy. 1. Objects and subjects of property. 2. Transformation of property relations in RK 3.Privatization: methods, problems. Theme 4. Fundamentals of the market economy and entrepreneurship 1.Essence of business, its characteristic features. 2. The forms and types of entrepreneurial activity. 3. Economic and legal conditions for the development of entrepreneurship in RK Theme 5. Fundamentals of supply and demand 1.Market mechanism of the relationship and interaction between elements of the market: supply, demand and prices. 2. Demand as an integral part of the market. The law of demand. 3. Proposal as an element of the market. The law of proposal. 4. Elasticity of supply and demand. 5. Market balance and its types. Theme 6. Competition and Monopoly 1. Competition as the motive power of the market 2.Types of market structures 3.Monopoly competition and oligopoly. Theme 7. Circuit and the turnover of capital (funds) of the enterprise 1. Fixed and circulating capital. 2. The process of reproduction of capital 3. Types of investment. Theme 8. Costs of revenues of the enterprise (company) 1.Costs. Types of costs. 2. Izocosts and izoquant. Optimum of manufacturer. 3. Effect scale of the production. 4. Income of the manufacturer. Theme 9. Factor markets and the formation of factor incomes 1.Profit as the main result of the company. 2. Market and payment. Equilibrium in the labor market. 3. Land market. Land rent. 4. Market of loan capital. Discounting and investment decisions. Theme 10. The national economy as a system. 1. General characteristics of the SNA. 2. GNP and methods of measurement. 3. Interaction of GNP and indicators of net national product, national income and personal disposable income. Theme11. Macroeconomic equilibrium 1. Joint demand, price and non price factors affecting the dynamics of aggregate demand. 2. Joint offer price and non price factors affecting the dynamics of aggregate supply. 3. General model of macroeconomic balance. Theme 12. Cyclical economic development and economic growth 1.Economiccycle: causes and characteristics of its main phases. 2. Basic indicators of economic conjuncture and their dynamics. Theme 13.Unemployment and inflation as a sign of economic instability 1. Differences between cyclical, frictional unemployment and structural forms. 2. The role of the Oaken law in the economic analysis. 3. Social and economic consequences of inflation. Theme14. The main directions of economic policy 1.Monetary weight and structure. Monetary aggregates. 2. Finance and its types. 3. The budget system and its characteristics. 4. State tax policy. 5. Public debt and its servicing. 6. The main directions of foreign economic activities of the state. | B.l. -1,3,4,9 A.l. 2,5,9 B.l.. -1,3,4,9,10 A.l. 2,5,9,8 B.l. -1,3,4,9 A.l. 2,5,9,3 B.l. -1,3,4,9 A.l. 2,5,9,10 B.l. -1,3,4,9 A.l. 2,5,9,8,11 B.l. -1,3,4,9 A.l. 2,5,9 B.l.-1,3,4,9 A.l. 2,5,9 B.l.-1,3,4,9,10 A.l. 2,5,9 B.l. -1,3,4,9 A.l. -2,5,9,12 B.l.-1,3,4,9 A.l. 2,5,9 B.l.-1,3,4,9,11 A.l. 2,5,9 B.l.-1,3,4,9 A.l. 2,5,9,4 B.l.-1,3,4,9 A.l. 2,5,9, B.l.-1,3,4,9,11 A.l. 2,5,9 |
The list of topics to be covered by the students independently:
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1. The positive and normative economic theory.
2. Classification of types of economic systems: traditional, market, command, mixed economy.
3. The origin and main stages of development of economic theory.
4. Periodisation of social development: pre-industrial, industrial and postindustrial stages.
5. The emergence of money.
6. Current money, its nature and basic shapes.
7. National Kazakh currency - Tenge.
8. Denationalization and privatization: the steps, forms, methods and problems.
9. The development of business in Kazakhstan.
10. Problems of small and medium-sized businesses in the RK.
11. Government support of entrepreneurship.
12. Government regulation of the market (the introduction of taxes and subsidies).
13. Price and non price determinants of supply and demand.
14. Effect of income and substitution effect and their influence on the value of consumer demand.
15. Cardinal and ordinal interpretations of utility maximization of consumer
16.Items of producers income.
17. Antimonopoly regulation of natural monopolies and the protection of competition.
18. Monopoly profits: the nature, sources, and borders.
19. Land market, land rent, the price of land.
20. Process of discount
21.Macroeconomic circuit model of income and expenses
22. Violence of equilibrium in models AD-AS.
23. Influence of changes in aggregate demand and aggregate supply on the dynamics of real GNP and price level.
24. Factors of changing LED.
25. Inflation and the deflation gap.
26. Essence, types and methods of measuring inflation.
27. Differences between inflation and demand inflation in production costs between the predicted and unexpected inflation.
28. Concept of economic growth and its measurement.
29. Discretionary and non-discretionary fiscal policy.
30. Stimulating and contractionary fiscal policy in a situation of inflationary and deflationary gaps.
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7. SCHEDULE OF THE TASKS AND SURRENDER OF DISCIPLINE Economic theory" for students independent work
| Subject classes | Tasks for CIW | The purpose and content of work | Recommended Reading | Form of control | Deadline | Evaluation scores | |
| Theme 1. Subject and method of economic theory | 1. The positive and normative economic theory. 2. Classification types of economic systems. 3. The origin and main stages of development of economic theory. 4. Periodization of social development: pre-industrial, industrial and postindustrial stages. | 1. To study the subject and methods of economic theory. 2. Learn the basics of economic theory schools. 3. To study the classification of the types of economic systems. 4. To view the periodization of the development of society. | 1. :. .,1995..35-67, .27-31. 2. / .., .., : , 2001. 3. ., : , , ., 1994 . 4.Besanko D. Microeconomics. 2011. 5. Welch P. Economics, 2009. | 1. Work on the tests, 2. Writing an essay (CIW) 3. Recitation (office hour) | 1 week | 0,5 0,5 Total 2,0 | |
| Theme 2. Fundamentals of social production | 1. Different models of rational behavior of economic man. 2. Circuit economic benefits and interactions between economic agents. 3. Different types of economic systems | 1. Study model of rational behavior of economic man. 2. Study the classification of the types of economic systems. | 1. .., .. . 1998., . 14-32. 2. ./ .., .. , 2001. . 48-63 3. ../ . : .-: -2002 . 81-93 4. .. .-.: -1999 . 65-67 5. Welch P. Economics, 2009. | 1. synopsis 2. Work on the tests. 3. An oral examination. | 2 week | Total 1,0 | |
| Theme 3. Property relations and their role in the economy | 1. The emergence of money. 2. Modern money, their nature and basic shapes. 3. Kazakhstan's national currency - tenge. 4. Denationalization and privatization: the steps, forms, methods and problems. | 1. Know the history of money, and their shape. 2. Reveal the historical essence of the national currency of Kazakhstan. 3. Be familiar with basic processes of denationalization and privatization of the RK | 1. :. .,1995.:411-414, 2. .., ... ./.:1998 , .9 .154-160,186-190 3. .11 .195-207. 4. .7 .33-40 5. Welch P. Economics, 2009. | 1. Work on tests, quizzes (sem) 2. Writing an essay (CIW) 3. Recitation (office hour) | 3 week | 0,5 total 2,5 | |
| Theme 4. Foundations of a market economy and entrepreneurship | 1. Entrepreneurship Development in Kazakhstan. 2. The problems of small and medium-sized businesses in the RK. 3. State support of entrepreneurship | Development of entrepreneurship in the RK, to get acquainted with the problems of small and medium businesses | 1. / .., .., : , 2001. .., .. ./.:1998 . . . .. ./ .:2003 | 1. Work on tests, quizzes (sem) 2. Writing an essay (CIW) 3. Defense of abstracts (office hour) | 4 week | 0,5 Total 2,5 | |
| Theme 5. Fundamentals of the theory of supply and demand | 1. State regulation of the market. 2. The effect of income and substitution effect and their influence on the value of consumer demand. 3. Cardinal and ordinal interpretations of utility maximization Consumer. | To study the influence of the state to market, through taxes and subsidies To study the effect of substitution effect and income effect on the quantity demanded. Know how to price and income affect consumer choice | 1. . . .. ./ .:2003 ., .217-231, 236-245 2. ., . : , . ., 1999..1, .61-75. 3. . // .( . .. ..: , 1993. . 78-116 | 1. A brief synopsis of the essay-(CIW) 2. Business game (sem) 3. To work with the category 1. Work on tests, quizzes (sem) | 5 week | 0,5 1,5 Total 4,0 | |
| Theme 6. Competition and Monopoly | 1. Antitrust regulation of natural monopolies and the protection of competition. 2. Monopoly profits: the nature, sources, and borders. | 1. Learn basic techniques, antitrust regulation. 2. Disclose the nature and sources of the monopoly profits | 1. ./ .., - .. , 2001. . 172-176,131-141 2. . . .. ./ .:2003 ., .279-281 3. .., .., .. ./ : 2003 ., 132-134 4. Welch P. Economics, 2009. | () 1. A brief synopsis of an essay (office hour) 2. Poll (office hour) 3. A survey tests (sem) | 6 week | 0,5 1, Total 2,5 | |
| Theme 7. Circuit and the turnover of capital (funds) of the enterprise | 1. The accumulation of capital: the nature and types 2. Depreciation of fixed assets | 1. To study the process of depreciation 2. To study the main types of wear and tear of fixed capital | 1. .. - : . ., 2002. .161-166 2. .. .-.: -1999 . 340-341 3. .. : . .: , 1996. .57-74 | 1. recitation 2. Test tasks 3.presentations of reports | week | 0,5 Total 2,5 | |
| Theme 8. Costs and revenues of the enterprise (company) | 1. Items of income of the producer. Types of production costs. | 1. Know the types of income producers and their differences. | 4. Besanko D. Microeconomics. 2011. 5.Welch P. Economics, 2009. | 1. problem solving (office hour) 2.Questioning (office hour) 3. Business game (sem) | week | Total 3 | |
| Theme 9. Factor markets and the formation of factor revenue | 1. The land market, land rent, the price of land. 2. The process of discounting | 1. To view the markets for factors of production. 2. To study the process of discounting. | 1. ./ .., - .. .2001. . 270-274,284-288. 2. . . .. ./ .:2003 ., .48-58 3. .., .., .. ./ : 2003 ., 182-188 4.Welch P. Economics, 2009. | 1. Solving problems and questioning (sem) tests (office hour) abstracts | week | Total 3,0 | |
| Theme 10. The national economy as a system | 1. Macroeconomic model of the turnover of income and expenses | 1. To study a model of the turnover of macroeconomic income and expenses | 1../ . .. .:1997 ., .5-11. 2. . / .., . , 2001. .320-321 4. Besanko D. Microeconomics. 2011. 5.Welch P. Economics, 2009. | 1. Summaries (CIW) 2. Questioning (office hour) 3. The survey and problem solving (sem) 4. abstract | week | 0,5 Total 3,5 | |
| Theme 11. Macroeconomic equilibrium | 1. Imbalance in the model of AD-AS. 2. Effect of changes in aggregate demand and aggregate supply on the dynamics of real GNP and price level. | 1. Examine the balance of aggregate demand and aggregate supply, their influence on the dynamics of real GNP | 1. . . .. ./ .:2003 ., .412-417,431-438. 2. . / .., . , 2001. .358-365. 3. ./ . .. .:1997 ., .19-28 4.Welch P. Economics, 2009. 5. Mils D. Macroeconomics. 2004. | 1.Recitation (sem) 2. Abstract-essay (CIW) 3.Questioning (office hour) | 12 week | 0,5 1,5 Total 3 | |
| Theme 12. Cyclical economic development and economic growth | 1. The concept of economic growth, its measurement. | 1. To study the concept of economic growth, its measurement | 1. 1. ., .: . . 1999. .1,.380-385 2. . / .., .. , 2001. .557-566 4. ./ . .. .:1997 ., .351-354. 5. . . .. ./ .:2003 ., .438-448 6. Welch P. Economics, 2009. 7. Mils D. Macroeconomics. 2004. | 1. Abstract-essay (SIW) 2. Questioning (office hour) 3. The survey, doing tests (sem) | 13 week | 0,5 Total 2,5 | |
| Theme 13. Unemployment and inflation are both manifestations of economic instability | 1. The entity types and ways of measuring inflation. 2. The difference between inflation and demand inflation in production costs between the predicted and unexpected inflation. | 1. To study the concept of inflation, forms and types. 2. To be able to distinguish between demand inflation and inflation costs. | 1. ., .: . . 1999. .1,.163-167. 2. . / .., .. , 2001. . 510-524 4. ./ . .. .:1997 ., .166-175. 5. Welch P. Economics, 2009. 6. Mils D. Macroeconomics. 2004. | 1. Abstract-essay (SIW) 2. Questioning (office hour) 3. Doing the tests, solving the problems | 14 week | 0,5 1, Total 2,5 | |
| Theme 14. The main directions of economic policy | 1. Monetary system 2. Banking system: structure and function | 1. To study the kinds of money. 2. To study the primary objective of monetary policy. | 1. :. .,1995..35-67, .27-31. 2. / .., .., : , 2001. 3. ., : , , ., 1994 . 4. Welch P. Economics, 2009. 5. Mils D. Macroeconomics. 2004. | 1. Abstract-essay (SIW) 2. Questioning (office hour) 3. Working with category (sem) | week | 0,5 0.5 0,5 Total 1,5 | |
| Theme 15 The main directions of economic policy | 1. Monetary policy | 1. To study the types of fiscal policy 2. To clarify the content of the regional social policy | 1. :. .,1995..35-67, .27-31. 2. / .., .., : , 2001. 3. ., : , , ., 1994 . 4. Welch P. Economics, 2009. 5. Mils D. Macroeconomics. 2004. | 1. Abstract-essay (SIW) 2. Questioning (office hour) | week | 0,5 1,0 Total 1.5 |
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REFERENCES
The laws of the Republic of Kazakhstan, the Letters (Message) of the President of the Republic of Kazakhstan, Regulations RK
1. . 27 1994 02.08.2011 .
2. 04.07.1992
"
3. 2 2003 461-II ( 11.07.2009 .)
4. 25 2008 N 112-IV adilet.minjust.kz
5. 13 2003 415-II ( 29.12.2009 .)
6. 06.01.2011.
7. , 2000.
8. 01.12.2011
9. 23 1995 2723 ( 19.02.2007 .)
10. " - 2030" www. mod.gov.kz
11. - 2011 - 2015 . 23 2011 699.. www. minjust.kz.
12. 26.07.2011 . 862.. www. minjust.kz.
13. - 2020 30 2010 1291. www. minjust.kz.
14. . . - .29.01.2010. www.kyzmet.kz
15. . . ! 28.01. 2011. www. akorda.kz
16. . . - 27.01. 2012. www. akorda.kz
Basic literature:
1. .. / .., ..
, 2008.
2. . . .. ./ .:2005 .,
3. ., : , , ., 2005 .
4. Besanko D. Microeconomics. 2011.
5. Welch P. Economics, 2009.
6. Mils D. Macroeconomics. 2004.
7. Pindyek R. Microeconomics. 2010.
8. Varian H.R. Intermediate Microeconomics: A Modern Apprach. 2009.
9. / .., .., : , 2004.
10. ., .: : , , .: , 2005 .
Additional literature:
1. : . ., 1998 .
2. / .., .., .: , 1994.
3. ., .: : . , 1992 .
4. .: , .: . 1976 .
5. .: , .: , 1992 .
6. ., ., . . .: , 1993
7. . . .: , . 17, .647-661
8. . . . 1. . 1, . 1. . 2, . 2,3. .: , 1993
9. ., ., . . ( ) // . .: , 1986. . 36-40, 41-42, 57-54, 75-77
10. . // .( . .. ..: , 1993. . 78-116
11. . . .: , 1986. . 2,7,23,25.
12. ./ . .. .:1997 .
13. -. .( . .. , ..: , - , 1994.
14. . . .. ./ .:2005 .,
15. .., .., .. ./ : 2006 ., 182-188
9. COURSE POLICY
1. Not to be late for class, latecomers are not allowed to employment;
2. Not to miss classes without any reason, missed classes are processed at the scheduled time of the teacher;
3. Participate actively in the learning process
4. Not to talk during class, do not read a newspaper, turn off the cell phone, do not chew gum;
5. Students should observe the business dress code;
6. In the case of non-job at the scheduled time Total value score will be reduced;
7. To be patient, honest, open and friendly to fellow students and teachers;
