Economics

💰 Course Title:

Introduction to Economics: Understanding Markets, Money, and Decision-Making

🎯 Course Objectives:

By the end of this course, students will be able to:

• Understand basic economic concepts and terminology.

• Analyze how individuals, businesses, and governments make economic decisions.

• Distinguish between microeconomics and macroeconomics.

• Explore real-world issues like inflation, unemployment, supply & demand, and global trade.

• Apply economic thinking to everyday life and current events.

📚 Course Modules & Content Outline:

Module 1: What Is Economics?

• Definition of economics

• Scarcity and choice

• Opportunity cost and trade-offs

• Types of economic systems (market, command, mixed, traditional)

• Basic economic questions: what, how, and for whom to produce?

Module 2: Microeconomics vs. Macroeconomics

• Microeconomics: study of individuals and businesses

• Macroeconomics: study of the economy as a whole

• Real-life examples of both

• How they interact and influence each other

Module 3: Supply and Demand

• Law of demand and law of supply

• Market equilibrium

• Shifts in supply and demand

• Price controls (ceilings and floors)

• Elasticity (price elasticity of demand and supply)

Module 4: The Role of Consumers and Producers

• Rational choice theory

• Utility and consumer behavior

• Profit motive and production costs

• The factors of production (land, labor, capital, entrepreneurship)

• Marginal cost and marginal benefit

Module 5: Market Structures and Competition

• Perfect competition

• Monopoly

• Oligopoly

• Monopolistic competition

• Real-world examples and their impact on pricing and innovation

Module 6: Government and the Economy

• The role of government in a market economy

• Public goods and externalities

• Taxes and subsidies

• Fiscal policy: government spending and taxation

• Regulation and antitrust policies

Module 7: Measuring the Economy

• Gross Domestic Product (GDP)

• Unemployment: types and causes

• Inflation: causes and effects

• Consumer Price Index (CPI)

• Business cycle (expansion, peak, recession, trough)

Module 8: Money and Banking

• Functions of money

• Types of money (commodity, fiat, digital)

• How banks work

• The Federal Reserve System (or your country’s central bank)

• Monetary policy tools (interest rates, reserve requirements, open market operations)

Module 9: International Trade and Global Economics

• Absolute vs. comparative advantage

• Trade barriers: tariffs, quotas, embargoes

• Trade agreements (e.g. WTO, NAFTA, EU)

• Exchange rates and currency markets

• Globalization: pros and cons

Module 10: Personal Finance and Economic Decision-Making

• Budgeting and saving

• Credit and loans

• Investing basics (stocks, bonds, mutual funds)

• Opportunity cost in financial planning

• Making informed consumer choices

🧪 Assessment Methods:

• Multiple-choice quizzes and vocabulary checks

• Case studies or scenario-based questions

• Short reflection essays or discussion posts

• Final project: analyze a real-world economic issue or create a mock budget/trade policy

🎓 Target Audience:

• High school and college students

• Adults preparing for college or business

• Educators seeking curriculum support

• Anyone interested in economic literacy and financial awareness

🛠️ Delivery Format:

• Short video lectures and interactive slides

• Readings and downloadable worksheets

• Quizzes and assignments with instant feedback

• Optional live discussions or webinars

• Certificate of completion