Description
Part 1: Micro-economic analysis – Understanding the effect on supply and demand
Gain a practical understanding of the basic forces in economics: the laws of supply and demand, shortages and surpluses, and the relationship between time and the market adjustment process.
This course will be an overview of:
- The study of the economy at the individual, firm, and industry level
- The laws of supply and demand.
- The impact of shortages and surpluses.
- The relationship between time and the market adjustment process.
After completing this course, the learner should be able to:
- Identify characteristics of the law of supply and demand.
- Identify the factors that can cause a shift in a products demand curve or supply curve.
- Apply supply and demand models.
- Calculate price elasticity of demand and income elasticity.
- Recognize the characteristics of the types of business firms and the principal-agent problem.
- Identify cost and profit measurements in the short run and long run.
Part 2: Micro-economic analysis – Understanding the effect on supply and demand
Obtain a practical understanding of the basic forces in economics, including an examination of competitive market structures, supply and demand, capital markets and interest rates.
This course will be an overview of:
- The law of supply and demand.
- The different types of competitive market structures.
- The impact of shortages and surpluses on supply and demand.
- The relationship between time and the market adjustment process.
After completing this course, the learner should be able to:
- Recognize competitive market structures.
- Identify how the law of supply and demand impacts productive resources.
- Recognize how interest rates impact supply and demand in capital markets.
Part 3: Macro-economic analysis – Bringing the big picture into focus
This course will be an overview of:
- The basics of macroeconomics.
- The concepts of supply and demand.
- The most common economic theoriesclassical and Keynesian.
- The business cycle.
This course, the first of a two-part series, will offer a detailed examination of the foundations of modern macroeconomics. After completing this course, the learner should be able to:
- Recognize the definitions and concepts utilized in economics and macroeconomic theory.
- Recognize the causes of shifts in aggregate demand and aggregate supply in the business cycle.
- Recognize the various types of unemployment and how to measure them. Identify how inflation is measured.
Part 4: Macro-economic analysis – Bringing the big picture into focus
This course will be an overview of:
- The importance of fiscal policy, including the pros and cons of various fiscal policy theories.
- Monetary policy and its impact on the economy.
- The banking system and the role of the Federal Reserve.
After completing this course, the learner should be able to:
- Identify fiscal policy theories.
- Define money and the money supply.
- Identify the U.S. banking system and the role of the Federal Reserve.
- Identify monetary policy.
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