Principles of Economics

In this course, you will learn the 10 most important economics concepts in a fast and efficient way.

Skills you will learn

 Understanding the 10 most important economic concepts
 Understanding the foundations of the global economy
 Evaluation of international business strategies

About this course

This course identifies the basic principles of economics. We will focus on the ‘Ten Principles of Economics’ formulated by famous economist Gregory Mankiw. These ten economic concepts are often labeled as the “main pillars” of economics, as they explain how individuals make decisions, how people interact, and how the economy works as a whole.

Students who understand these principles will have a much better ability to understand the economic and financial world around them, making them better managers, investors, producers, and consumers.

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This course is designed as an eight-week introduction to the study of economics. Participants will be exposed to the economic way of thinking and learn about the functioning of a modern market economy. The early part of the course focuses on microeconomic analysis including the behavior of consumers and firms. We analyze markets for goods and services and policy choices that affect these markets. The later part of the course moves on to macroeconomic concepts such as national production, employment, inflation and interest rates. We explore models that determine long-run growth and short-term fluctuations in national economies. We then discuss the role of government regulation, monetary policy, and fiscal policy.