Principles of Economics

HS 1050Principles of Economics31-4HSS
This course will provide an introduction to the subject matter of economics which is highly relevant to understanding the functioning of the economy and the world around us. The course will consider basic economic principles that govern consumer and producers behaviour. It will examine how markets work and how supply and demand interact to determine prices, characteristic and types of market, market failure and role of government in the economy, macro economic issues and measurement, inflation and unemployment, money banking and international trade and macro policies.

Type of Economies and Economic Institutions – Production Possibility Frontiers, opportunity costs and circular flow- Supply and Demand – Theory of the firm, market structure and market failure – The Government in the economy – Macro Economic issues – Macro Policies, Money-International Trade and Finance.