This course includes the Nature of Economics, the basic economic problem of scarcity, the relationship between product and cost, demand and supply, the types of market structures, the Financial Sector, Public Finance and Functions of Government, International Trade, and Caribbean Economies in a Global Environment. Students will gain an understanding of how national economic events and policies impact their well-being, future income, and job opportunities. It will also enable students to offer informed comments on economic matters.

This course aims to cover the basic theories of microeconomics (the behavior of individual and firms) as they attempt to make better use of scarce resources.  It begins with the central problem of Economics, followed by the tools of economic analysis, the theory of consumer demand and the theory of supply.  The study of Microeconomics is applied to everyday decisions faced by individuals as they try to maximize profits and to the whole of society as it attempts to use its resources efficiently.

This course aims to cover the basic theories of macroeconomics (that of the economy as a whole).  It begins with the nature of macroeconomics followed by national income, classical models of Macro economy, consumption function, basic Keynesian Models, investment, and the demand and supply of money.  In addition, this course will cover the economic impacts of monetary policies.  Students will learn how economics relates to them and how macro economics differs from microeconomics.  They will gain an understanding of how national economic events and policies impact their well-being, future income, and job opportunities.  It will also enable students to offer informed comments on economic matters.

COURSE DESCRIPTION :

This course includes the Nature of Economics, the basic economic problem of scarcity, the relationship between product and cost, demand and supply, the types of market structures, the Financial Sector, Public Finance and Functions of Government, International Trade, and Caribbean Economies in a Global Environment. Students will gain an understanding of how national economic events and policies impact their well-being, future income, and job opportunities.  It will also enable students to offer informed comments on economic matters.