Catalogue

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.