Introduction to Economics

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 macro and microeconomics; 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; a science that analyzes anything related to the economy as a social system or network where people and institutions they create exchange goods and services. The first part of the course introduces students to the theory of supply and demand, followed by introduction of the economics nature, 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. Furthermore, the course present a better understanding and analysis of the interaction and behavior of different economic elements such as households, industries, markets, labor unions, and trade associations.

Pre-requisite:  None