This module provides an introduction to Economics. The curriculum equips students to understand how the economy has evolved and how it works by bringing advances in economics research over the past three decades.

Part 1 Microeconomics

• Comparative advantage and specialization
• Demand and supply in perfectly competitive markets
• Consumption and Preference
• Production and Technology
• Economic Efficiency and Surplus
• Monopoly and Market Power
• Duopoly and Strategic Behavior
• Externality
• Asymmetric Information
• Public Goods

Part 2 Macroeconomics

• Measuring National Income
• Inflation and the Monetary System
• Unemployment and the Labor Market
• Long-Run Economic Growth
• IS-LM Model
• AD-AS Model
• Short-Run Tradeoff between Inflation and Unemployment
• The Open Economy
• Perspectives on Stabilization Policy