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Get an introduction to economics with this in-depth course on production, distribution and consumption of goods and services.
Economics is the father of dismal science. It studies the production, distribution and consumption of goods and services. In this module, we will introduce you to the basic concepts of economics that everybody should know.
The market system is the central concept in economic discussions. This module will introduce you to the components of the market system.
This module will discuss the theory of supply and demand and how they determine the price of a good.
To most people, a price is a number with a pound sign in front of it, such as £10. But the price is much more than that. This module will discuss the characteristics of price and its various functions.
Elasticity is an important concept in the discussion of economics. This module will discuss different types of elasticities and their impacts on the market.
In some circumstances, economically desirable goods are not produced at all. In other situations, they are either overproduced or underproduced. This module focuses on these situations, which economists refer to as market failures.
Our lives are constantly intermingled with business firms, as buyers of goods and as sellers of our labour services. In this module, you will learn how firms make production decisions and different cost concepts.
Market structure is the environment whose characteristics influence a firm’s pricing and output decisions. In this module, you will learn about the different types of market structure and how price influences production decisions.
Knowledge about money and the financial system is crucial in understanding the economy. This module will discuss the functions of money, banking, and the financial system.
Economic growth is an increase in an economy’s production of goods and services. This module will discuss how GDP and economic growth can be measured.
Unemployment is a major topic in most economic discussions. This module will help you get a better idea about the types of unemployment and how it is measured.
Inflation is a general and ongoing rise in the level of prices in an entire economy. This module will introduce you to various measures of inflation.
Poverty and inequality is a pressing issue in contemporary economic discussion. This is one of the biggest challenges our world is facing today. This module will help you learn about the different measures of income inequality.
A British tourist in India might want to buy a good priced in Indian Rupees and to know what the good costs in pound sterling. This module will help you get the answer.
The fiscal policy consists of changes in government expenditures and/or taxes to achieve economic goals, such as low unemployment, stable prices, and economic growth. This module will discuss different fiscal policy instruments.
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