ECONOMICS

Online Course Outline: ADVANCED CERTIFICATE IN ECONOMICS

Mode of Delivery: Online (self-packed)
Duration: 12 months
Target Audience: Anyone interested in studying economics, professionals, high school students, Undergraduate students, professionals, and anyone interested in understanding foundational economics concepts.

Course Objectives:

By the end of this course, participants will:

1. Understand the foundational principles and scope of economics.

2. Apply consumer behaviour theories to real-world situations.

3. Analyse market dynamics through demand, supply, and elasticity.

4. Explore production, cost, and revenue theories within different market structures.

5. Understand national income accounting and its role in measuring economic performance.

6. Evaluate the roles of money, banking, and finance in the economy.

7. Assess the impact of public finance, employment, and international trade on global economies.

Course Modules and Weekly Schedule

Module 1: MEANING, SCOPE, METHODOLOGY AND PRINCIPLES OF ECONOMICS

MONTH  ONE: WEEK 1

• Topics Covered:

  • Definition and explanation of economics

  • scarcity and basic economic problems

  • opportunity cost and production possibility curve

  • Basic economic tools and analysis

  • Economic and market systems

• Activities:

  •  lecture with assignment

Module 2: Theory of Consumer Behaviour

Week 2:

• Topics Covered:

  • Utility: Cardinal and ordinal approaches

  • Indifference curve analysis and budget constraints

  • Consumer equilibrium and demand derivation

• Activities:

  • Recorded lecture with quizzes

  • Interactive activity: Analyse your weekly spending

Module 3: Demand and Supply

Week 3:

• Topics Covered:

  • The law of demand and supply

  • Market equilibrium and shifts in curves

  • Factors affecting demand and supply

• Activities:

  • Market simulation: Identifying equilibrium

Module 4: Elasticity of Demand and Supply

Week 4:

• Topics Covered:

  • Price elasticity of demand and supply

  • Income and cross elasticity of demand

  • Applications of elasticity in policy and business

• Activities:

  • Quiz: Calculating elasticity values

  • Case study: Pricing strategies of a retail firm

Module 5: Theories of Production and Cost

Week 5:

• Topics Covered:

  • Production functions: Short-run and long-run analysis

  • Law of diminishing returns

  • Economies of scale and cost concepts

• Activities:

  • Practical exercise: Graphing cost curves

  • Group project: Evaluate a production strategy

Module 6: Theories of Revenue and Profit in Relation to Market Structures

Week 6:

• Topics Covered:

  • Perfect competition, monopoly, monopolistic competition, and oligopoly

  • Revenue and profit maximization theories

  • Price discrimination and market efficiency

• Activities:

  • Group debate: Which market structure is best for innovation?

  • Simulation: Profit calculation under different scenarios

Module 7: National Income and Product

Week 7:

• Topics Covered:

  • Concepts of GDP, GNP, and NNP

  • Methods of measuring national income

  • Importance and limitations of national income data

• Activities:

  • Recorded lecture with practice problems

  • Case analysis: Comparing GDP growth in two countries

Module 8: Money, Banking, and Finance

Week 8:

• Topics Covered:

  • Functions of money and types of banking systems

  • Central banking and monetary policy tools

  • Financial markets and their role in economic development

• Activities:

  • Live session: Guest speaker from a financial institution

  • Quiz: Identifying the impact of monetary policies

Module 9: Public Finance

Week 9:

• Topics Covered:

  • Government revenue and expenditure

  • Taxation: Types and principles

  • Budget deficits and public debt

• Activities:

  • Simulation: Designing a balanced government budget

  • Discussion: Impacts of fiscal policy on growth

Module 10: Employment

Week 10:

• Topics Covered:

  • Labor markets and types of unemployment

  • Causes and remedies for unemployment

  • Employment trends and their economic implications

• Activities:

  • Case study: Evaluating an unemployment policy

  • Recorded lecture with Q&A

Module 11: International Trade, Payment, and Finance

Week 11 & 12:

• Topics Covered:

  • Theories of international trade (comparative advantage, Heckscher-Ohlin)

  • Balance of payments and exchange rate systems

  • Trade policies: Tariffs, quotas, and trade agreements

• Activities:

  • Debate: Free trade vs. protectionism

  • Group project: Analyzing a country’s trade balance

Assessment Plan:

• Quizzes and Assignments (40%): Weekly quizzes, assignments, and case studies.

• Group Projects (20%): Collaborative analysis and presentations.

• Final Exam (40%): Comprehensive test on all modules.

Course Support and Engagement:

• Dedicated discussion forums for peer learning

• Weekly office hours with the instructor

• Feedback sessions after assessments