Program Summary
Economics as a course explores how individuals, businesses, and governments make decisions about allocating resources to satisfy needs and wants. It examines the production, distribution, and consumption of goods and services, analyzing how markets function and how various economic systems operate. The course covers fundamental concepts such as supply and demand, opportunity cost, scarcity, and market equilibrium. It also delves into macroeconomics, which focuses on national and global economic trends, including inflation, unemployment, and economic growth, as well as microeconomics, which studies individual and business behavior in different market structures.
Students learn about economic models and theories used to analyze real-world issues such as income inequality, government policies, trade, and financial markets. The course often incorporates mathematical and statistical tools to interpret data, forecast trends, and evaluate economic policies. It also encourages critical thinking and problem-solving skills, helping students understand the impact of economic decisions on society and the environment. By studying economics, students gain insights into how economies function and develop the ability to make informed financial and policy decisions in various professional fields.