This subject has been designed to introduce the fundamental principles of economic theories, models and tools employed by the Government, firms and other stakeholders to manage the economy. The subject examines various micro and macroeconomics topics, including demand and supply model, cost of production, resource allocation, market structures and market failures, macroeconomic indicators such as GDP, economic growth, inflation and unemployment, monetary and fiscal policy, and international trade. In this subject, students will also learn how to analyse the labour market, financial market and global economic issues such as financial and other crises.
Upon completing this subject, students will have achieved the following:
- Understand the basic principles of economics and international trade;
- Demonstrate the use of the basic tools and theories of economic analysis for applications in the industries;
- Analyse and evaluate the complex forces that affect the economic wellbeing of consumers, producers and the community in the market system;
- Apply theoretical and practical knowledge of economics in investigating the issues related to organisations and countries and the formulation of appropriate economic solutions and economic policies; and
- Critically evaluate information from a wide range of sources to demonstrate research skills, show initiative in consulting the academic literature and demonstrate the capacity to document the outcomes with sound analysis and recommendations.
What You Get:
- Hours of interactive videos.
- Applied industry knowledge.
- 1-year full access to the course.
- Access on your phone or desktop computer.
- Certificate of completion at the end of the course.