Economics Theory

Learning Outcomes

Upon successful completion of this course, students are expected to be able to: identify and explain the basic reasoning and analytical process in economics; identify and explain issues in microeconomics and their effects on the choices of individuals and businesses; identify and explain issues in macroeconomics and their effects on the prosperity and the performance of businesses and economies; explain and calculate aggregate supply and demand in measuring the prosperity and the performance of economies.

Topics

This course is as an introductory course for economics. It contains the theory of supply and demand. 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.