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This course is designed to introduce you to the subject of economics combining both microeconomic and macroeconomic views. The course will discuss the basic theoretical tools with which an analysis of various economic situations can be undertaken and applied to today's world.
Course Goals
The objectives of this course are stated below. When you go to work after graduation you can apply this knowledge gained through achieving these objectives to help analyze how certain actions in the economy, both private and governmental, will affect you, the firm you work for, the stock markets, etc. By the semesters end, a student successfully completing this course will:
- Understand the concept of opportunity cost & use it to analyze economic decision-making.
- Use supply and demand analysis to explain how markets function.
- Understand how prices are determined
- Business firm behavior under various market structures.
- Measure macroeconomics outcomes by understanding how unemployment and inflation are measured and calculated as well as how they are affected by business cycles.
- Understand economic instability through an understanding of aggregate demand and supply and gain an understanding how governments can promote economic stability through fiscal policy.
- Understand how the banking system operates and how through the use of the banking system governments can promote economic stability.
- Understand government interaction with markets through the study of economics and its application to environmental issues
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