The syllabus covers the key principles of microeconomics and macroeconomics. Microeconomics analyses how the economy’s scarce resources are allocated. The focus is on prices and markets. Topics include the economic problem, marginal analysis, demand and supply analysis, elasticity, market efficiency and market failure. Emphasis is placed on the application of theory to real world events. Macroeconomics focuses on the performance of the whole economy. Topics include the business cycle, measuring economic activity, economic growth, unemployment and inflation, the aggregate demand and aggregate supply model, monetary and fiscal policy, the exchange rate and the international economy. -- Course Website
