Understand Economics
Economics is about how to manage resources to produce, distribute, and consume goods and services. It concerns the choices made by individuals, businesses, and governments in allocating these resources effectively.
This course gives you a sense of why costs, budgets, wealth and other things change. If you understand the forces that cause assets to increase or decrease in value, or for costs to change – you have a basis for seeing trouble before it comes and to avert that trouble. You can also see opportunities ahead of time, and react to their advantage.
Get skills to determine how to manage money and resources effectively
In essence, economics raises financial awareness. So, anyone who can do better by being more financially aware can benefit.
Economics can be applied across a broad range of sectors and industries, and it is useful in various jobs.
Learning economics is pivotal in roles in:
Business Ownership
Strategy & Risk
Investments
Project Management
Policymaking
Data Analysis
Business Development
Process Engineering
City Growth
Community Development
Aims
- Discuss the significance of economics today.
- Interpret a variety of important economic laws.
- Differentiate between wants and needs in the context of satisfaction.
- Explain how costs are determined in a variety of economic contexts.
- Determine the relationship between value and price in an economic context.
- Explain wealth with reference to income, investment, profit, and interest rates.
- Explain what influences economic health locally, nationally and internationally.
- Explain and compare different economic systems in different countries.
- Report on a chosen topic which illustrates economic theory and its influences on economic policy.