ECONOMIC THEORY (2 Credits)

Learning Outcomes:

On successful completion of this course, students will be able to: estimate and explain the concept of the economist’s approach to supply, demand, elasticity and consumer behaviour; analyze and estimates the profit maximization with input factors in the competitive and non-competitive market; evaluate and explain the business growth strategy and government intervention; estimate and explain macroeconomic policy and global economic environments.

Topics:

1. Business and the economic environment;
2. The working of competitive markets;
3. Demand and the consumer;
4. Supply decision in a perfectly competitive market;
5. Pricing and output decision in imperfectly competitive markets;
6. Business growth and strategy;
7. Multinational corporations and business strategy in a global economy;
8. Labour and employment;
9. Government, the firm and the market;
10. The economy and business activity;
11. National macroeconomic policy;
12. The global trading environment;
13. The global financial environment;
14. Demand and the Consumer;
15. Business growth and strategy;
16. The economy and business activity;
17. The global trading environment.