Economics

Economics involves the study of human behavior as it relates to the consumption and utilization of resources to satisfy wants, and also of the methods of organizing the production, distribution, and sharing of goods and services. Understanding the basic concepts of economics is essential for those running a business but it is also helpful to have an overall picture of how the world works.

Contents

Macroeconomics

Module 1
Basic Concepts

• What is Macroeconomics?
• Aggregate Income - GDP and GNP
• Business Cycles
• Unemployment
• Inflation, Deflation, Hyperinflation, Disinflation, Reflation
• Deficit and Surplus

Module 2
The Role of the Government in the Economy

• Government Regulation of the Market
• Antitrust Laws
• Fiscal v Monetary Policy

Microeconomics

Module 3
Basic Concepts

• What is Microeconomis?
• Supply Analysis & Demand Anaysis
• Scarcity & the Opportunity Cost
• Substitute and Complementary Products
• Price Sensitivity or Elasticity
• Costs of Production
• Market Equilibrium

Module 4
Market Structures

• Perfect Competition
• Monopoly
• Oligopoly

Practical Assignment: Analysis of articles written by Stiglitz on Argentina’s crisis

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