Course Description:


This course covers an introduction to both microeconomics and macroeconomics. It introduces students to economic theories, methods, and principles with an emphasis on the development of critical thinking skills and the analysis of controversial issues in the field. Macroeconomic topics include: supply and demand; national income and product; saving, consumption and investment; income determination; money supply and deposit creation; monetary and income analysis and alternative economic theories. Microeconomic topics include: demand and utility; cost analysis; long-run supply; profit maximization; competition; production theory; pricing of factor inputs; interest; international trade and current economic problems.


Course Outcomes:


1.   Identify fundamental economic concepts and issues

2.   Explain the concepts of supply and demand in the market

3.   Explain inflation and its various causes

4.   Compare and contrast various theories of the Business Cycle

5.  Discuss the effect of income distribution on the market