PRC-3 Principles of Economics by Sir Muzammil Abbas

This course is part of the PRC Module

Students already enrolled: 10,000+

Muzammil Abbas


Fee: Rs 10,000

What you will Learn

The Principles of Economics course aims to provide students with a foundational understanding of economic concepts and principles relevant to accounting, finance, and business.

Course Content

Economic Principles And Micro Economics: 

  1. Define basic economic contents.
  2. Discuss the production possibility frontier and its relevance to the concept of opportunity cost for different economic analysis. 
  3. Discuss features of planned, mixed, market economy and Islamic economic system. 
  4. Discuss law of demand. 
  5. Discuss law of supply.
  6. Discuss market equilibrium and its dynamics. 
  7. Discuss elasticity of demand and supply.
  8. Describe basic concepts of firm’s costs and revenue.
  9. Discuss short and long-run equilibrium of firms under perfect competition, imperfect competition, monopoly, monopolistic competition and oligopoly.  

Macro Economics - Basic Concepts:

  1. Discuss measurement of national income, nominal and real gross domestic product, gross national product, net national product, personal income and disposable personal income per capita. 
  2. Explain the functions of consumption, saving and investment. 
  3. Explain multiplier and accelerator principle. 
  4. Discuss the different phases of the business cycle and the indicators 

Economic Policies and Trends: 

  1. Discuss nature and objectives of taxation.
  2. Discuss kinds and objectives of fiscal policy.
  3. State key features of Pakistan’s prevailing fiscal budget.
  4. Discuss the concepts associated with money and banking.
  5. Define the functions of a central bank and the role of the State Bank of Pakistan. 
  6. Define monetary policy and its objectives.
  7. Discuss inflation, its causes, measurement and impact. 
  8. State unemployment and its types.
  9. Discuss interest rate determination and its trends in Pakistan.
  10. Discuss the balance of payment and trade and their trends in Pakistan.
  11. Discuss exchange rate determination and its impact on the balance of payments of a country. 

Additional Content

  1. Properties of Production possibility frontier
  2. Demand and supply  
  3. Buffer Stock 
  4. Cobweb theory 
  5. Accounting and economic profit 
  6. Keynesian theory of consumption 
  7. Keynesian two-sector economy 
  8. Keynesian Aggregate Demand and  Supply 
  9. Output gaps 
  10. Keynes Multiplier and Accelerator principles 
  11. Keynesian Liquidity preference Model 
  12. The Quantity theory of money (Irving Fisher) 
  13. Short-run and long-run Philips Curve 
  14. J-Curve (Currency devaluation and balance of payments

Muzammil Abbas


One of the most energetic teachers of economics. He’s a certified trainer by the Cambridge Board. He’s successfully been teaching for last 18 years and been associated with some very good institutes such as Beaconhouse and Alpha College.

Includes: PRC-1, PRC-2, PRC-3, PRC-4, PRC-5

Students already enrolled: 10,000+

Total price: Rs 50,000

Rs 40,000

Discounted price

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