BUSINESS ECONOMICS (4 SCU)

Learning Outcomes:

On successful completion of this course, students will be able to: explain the basic concepts of economic theories; apply consumer behavior, producer behavior, market equilibrium and inflation, unemployment, and economic growth; apply basic macroeconomic concepts and theoretical principles to understand their impacts on both the welfare of households and the sustainability of business organizations; analyze market structures in microeconomic and macroeconomic markets, goods and financial systems, and economic crises; and explain how macroeconomic policies affect both aggregate demand and aggregate supply in a global economic event.

Topics:

The topics include an introduction to the nature of economics, the private and public sectors of the economy, major economic problems (such as unemployment and inflation), and the use of fiscal and monetary policies and their influence on the economy. This course also gives an overview of the economic behavior such as consumers, workers, firms, and managers. Furthermore, the course presents a better understanding and analysis of the interactions and behaviors of groups of individuals such as households, industries, markets, labor unions, and trade associations.