BUSINESS ECONOMICS (4 SCU)

Learning Outcomes:

On successful completion of this course, students will be able to : explain basic concept of economic theory, apply consumer behavior, producer behavior, and market equilibrium and inflation, unemployment, and economic growth, apply basic macroeconomic concepts and theoretical principles to understand its impacts on both the welfare of households and the sustainability of business organisations, analyze market structures in microeconomics and macroeconomics markets, goods and financial system and economic crisis, and explain how macroeconomic policies affect both aggregate demand and aggregate supply in a global economic event.

Topics:

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 presents a better understanding and analysis of the interaction and behavior of groups of individuals such as households, industries, markets, labor unions, and trade associations.

Pre-requisite: None