Economics is in everything - from the long line at Tim Horton’s, to the shortage of toilet rolls during a pandemic. If you want to understand how the world works and why decisions are made, then studying economics is essential. This course is designed for non-economics majors to learn about fundamental economic principles through thoughtful and engaging scenarios that we encounter every day, such as Taylor Swift’s decision to forgo school and Uber’s surge pricing to better understand how limited resources drive the decision-making process. You will learn how to understand and apply the core concepts instead of math-heavy problem sets.
Topics covered are:
- Introduction to Economics and the Economizing Problem
- Demand, Supply and Elasticity
- Production and Cost
- Perfect Competition: Equilibrium
- Imperfect Competition: Monopoly
- Imperfect Competition: Markets Between Monopoly & Perfect Competition
- Resource Allocation: Marginal Productivity Theory
- Resource Allocation: Pricing and Use of Resources
- Poverty and Income Inequality
- The Role of Government
What You Will Learn
- How to identify and understand key economic concepts
- Understand supply and demand
- Market structures such as competition, monopoly, competition
- Economic issues and policies
- How to apply the economic perspective, and reason accurately and objectively about economic matters.
This course has scheduled written assignments and scheduled discussions within the term time frame. Course syllabus will be available on the course site.
This course is recommended for students working towards the following certificates:
- Certificate in Business Management : Elective Course
- Certificate in Financial Management : Required Course
Applies Towards the Following Certificates
- Certificate in Business Management : Electives