Understanding supply & demand, key performance indicators, monetary & fiscal policy, externalities, and competition
What you will learn
Develop a foundational understanding of key concepts and principles in macroeconomics and microeconomics
Analyze the forces that determine prices and quantity in markets
Explain how macroeconomic indicators such as GDP, inflation, and unemployment are used to measure economic performance
Identify the role of the government in fiscal policy
Identify the role of the central bank in monetary policy
Analyze the types of competitions that exist in microeconomics
Learn about market failures and how economics address them
Description
This course introduces fundamental concepts in macroeconomics and microeconomics that will build the foundation for more advanced economic models and theories. We will first begin the course by presenting ten principles of economics, and then discuss key ideas that economics centers around. This crash course is a great free resource for those who want to begin exploring economics but do not know where to start. Even though this course is not fully in conjunction with the Advanced Placement (AP) or college materials, a lot of the content that will be covered are similar to advanced high school or introductory college level economics class.
By taking this course, students will be able to answer questions including but not limited to
- What is economics?
- What is scarcity?
- How are choices made?
- What are normative and positive economics?
- What are demand and supply?
- How are price and quantity determined?
- What is Gross Domestic Product (GDP)?
- What is inflation?
- What is unemployment?
- What are monetary and fiscal policies?
- What are the tools monetary and fiscal policies use?
- What are different types of competitions?
- What are different types of goods?
- What are externalities and government failures?
- How do we address externalities?
- When and how does the government intervene?
Content