Economics (ECO401) is a foundational course designed to give students a thorough understanding of economic theories, concepts, and applications. This course, which is designed for beginners, offers insights into how people, businesses, and governments behave in the context of the larger economy by covering a broad range of micro and macroeconomic themes.
The main focus of ECO401 is on the study of individual economic agents and their interactions in markets, which is a fundamental aspect of microeconomics. As they travel through subjects including supply and demand, consumer behavior, production and cost analysis, market structures, and resource allocation, participants get a deeper understanding of the underlying ideas that guide decisions regarding the distribution of limited resources.
The principles of macroeconomics, which center on the analysis of aggregate economic phenomena at the national and international levels, are presented to participants in ECO401. Learning about subjects including international trade, monetary and fiscal policy, economic growth, inflation, unemployment, and national income accounting gives participants a better understanding of the underlying ideas that drive contemporary economies.
With a focus on applying economic theory to practical concerns and situations, ECO401 gives students the chance to examine and evaluate economic facts, trends, and policies. Gaining understanding of the role of economics in guiding public policy and decision-making, participants learn how to apply economic principles and theories to comprehend and assess contemporary economic concerns, such as poverty, inequality, environmental sustainability, and economic development.
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