Upon successful completion of this course, students are expected to be able to: explain demand and supply model; illustrate the basis of choice and decision making; estimate and explain production and cost analysis; identify and explain different types of market structure; explain the methods of measuring economics output; discuss economic growth dependence on financial sector, financial crises and inflation; explain how macroeconomic policies affect both aggregate demand and aggregate supply; describe the regime under fixed, flexible, and partially flexible exchange rates.
Topics include an introduction to the nature of economics, the private and public sectors of the economy, major economic problems (such unemployment and inflation), and the use of fiscal and monetary policy and its influence on the economy. This course also gives an overview of the economics behavior such as consumers, workers, firms, and managers. Furthermore, the course present a better understanding and analysis of the interaction and behavior of groups of individuals such as households, industries, markets, labor unions, and trade associations.
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