Laying the foundations of your economics knowledge, you’ll learn about the assumptions of economics (and the flaws of these assumptions), along with key theories and the behaviour of economic actors. You’ll gain a basic grasp of core concepts such as economies of scale, market failure, externalities, elasticities, and macroeconomic metrics such as inflation and unemployment.<br><br>With this knowledge, you will be able to understand what economic policies are appropriate given the economic landscape, and the potential unintended consequences of such policies.
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10 Modules
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The course begins by looking at the basic fundamentals that underpin our assumptions about the economy, including scarcity, choice, opportunity cost, and the objectives of private companies. From there, the course is divided into two parts, covering microeconomics and macroeconomics.
In the area of microeconomics, we’ll examine the price system, elasticity and behavioural economics, production and specialisation, and intervention and market failure.
In the second half of the course, we’ll explore macroeconomics – covering economic growth, inflation and unemployment, international trade, globalisation and exchange rates, and policies and government intervention.
By studying this course, you will:
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