| Objectives: |
The aim of this course is to provide students with the basic concepts and methods of economics; to explain demand, supply, elasticity, consumer and producer behaviour and the functioning of market structures at the microeconomic level, and national income, inflation, unemployment, the saving-investment relationship, the monetary system and international economic relations at the macroeconomic level. |
| Content: |
The course covers the basic concepts of economics and economic systems, demand and supply analysis, market equilibrium, elasticity, market failures and government intervention in markets, consumer behaviour theory, production and cost theory, market structures, together with national income, inflation, saving and investment, the time value of money and risk, unemployment, the monetary system and the open economy. |