Economics

Course Description

This course will introduce students to the economic way of thinking. Students will understand concepts such as; demand and supply, elasticity, efficiency and equity, output and costs, perfect competition and monopoly.

The student needs to see economics as a lens that sharpens the focus on real-world issues and events, and not as a series of logical exercises with no real purpose.

Learning Outcomes

By the end of this course, students will be able to…

• DESCRIBE economics and the economic way of thinking.

• EXPLAIN the economic problem and opportunities to expand future production possibilities, change what we produce, and destroy and create jobs.

• DESCRIBE the demand and supply model to achieve a competitive market.

• EXPLAIN the aggregate supply and aggregate demand.

• DESCRIBE the relationship between aggregate expenditure and aggregate demand.

• EXPLAIN aggregate demand shocks and aggregate supply shocks create the business cycle.