Long Term Evolution (LTE), the standard specified by 3GPP on the way towards the fourth generation mobile networks, is intended to deliver high speed data and multimedia services to next generation mobile users. The Radio Resource Management (RRM) plays a very crucial role in managing limited radio resources to enhance system's data rate and to ensure quality of service (QoS) provisioning in both uplink and downlink. LTE downlink scheduling is a RRM entity that is responsible for the allocation of shared radio resources among mobile user equipment (UEs). One of the challenges that need to be addressed in downlink scheduling algorithms is to provide higher spectral efficiency with fairness ensured to all its users. This paper proposes a novel downlink scheduling algorithm which balances its performance between efficiency (in terms of throughput) and fairness to users. The algorithm makes use of Assignment Model for resource allocation to all the selected users during each Transmission Time Interval (TTI). The proposed algorithm is simulated and the simulation results are compared with three techniques proposed in literature. The simulator results show that the new algorithm balances well between throughput and fairness.