Introduction to Economics
Learning Outcomes
On successful completion of this Course, students will be able to: Explain fundamental of economics; Explain the foundations of macroeconomics-consumers and firms; Explain the market imperfections and the role of government; Explain concepts and problems in macroeconomics; Explain the goods and money markets.
Topics
- The Scope and Method of Economics
- The Economic Problem: Scarcity and Choice
- Demand, Supply, and Market Equilibrium
- Elasticity
- Household Behavior and Consumer Choice
- The Production Process: The Behavior of Profit-Maximizing Firms
- Short-Run Costs, Long-Run Costs and Output Decisions
- Input Demand: The Capital Market and The Investment Decision
- General Equilibrium and The Efficiency of Perfect Competition
- Monopoly, Antitrust Policy, Monopolistic Competition and Oligopoly
- Introduction to Macroeconomics
- Measuring National Output, National Income, Unemployment, Inflation, and Long-Run Growth
- The Money Supply and The Federal Reserve System
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