Introduction to Economics

The scope of this module includes principles of microeconomics and macroeconomics. The first half of this module introduces core principles of the work in economics and topics covered include the scarcity, the incentive, opportunity cost, supply, demand, elasticity, different types of market structures and game theory. The second half of this module introduces the broad picture of the economy, macroeconomics. The topics covered in the module include aggregate demand and supply, gross domestic production, price level. Building on the macroeconomics concepts, the module also examines the economic cycles and fluctuations, government intervention using monetary and fiscal policy and international economy.