Principles of Economics
BAM 223 Principles of Economics
3 Semester Units
Principles of Economics demonstrates the relevance of economics through real-world business examples. The first part of the course presents microeconomic analysis such as consumer behavior, market structure, firm strategy, and corporate governance. The latter part of the course provides a comprehensive coverage of macroeconomic models, theory and policy issues including GDP, payroll employment, long-run growth, and business cycles.
Upon successful completion of this course, students will be able to:
- Discuss the foundations of economics as well as the role of models in economic analysis.
- Discuss the variables that influence supply and demand and explain the effect of government-imposed price ceilings and floors.
- Understand the structure and functions of firms and the Stock Market.
- Discuss GDP and the difference between real and nominal GDP.
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