Economics

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:

• Gain a foundational understanding of economics
• Learn about microeconomics
• Learn about macroeconomics
• Understand economic policies and their potential unintended consequences

This course is for anyone wishing to gain a core understanding of how an economy functions in a capitalist society. Studying the Economics Diploma Course, you’ll be equipped to critically analyse economic data and news, understanding what is happening in markets and the macroeconomy.

Following completion of the course, you can build upon the foundational knowledge of economics gained by going on to further study – learning about IS-LM, banking and financial markets, game theory, and econometrics.