Business Essentials - Economics

Catalog description

Provides an overview of both microeconomics and macroeconomics, as well as understanding how to integrate current economic conditions, events and issues in order to make the economic theory relevant to everyday situations. Microeconomics focuses on the behavior of individuals as consumers and employees; the behavior of businesses firms as producers and employers; how the behaviors of individuals and business firms is coordinated through a system of markets and prices; how various government policies affect market outcomes; and how society’s scarce resources are allocated and how income is distributed in a modern mixed (market/government) economy. Macroeconomics studies the economy as a whole and focuses on: total production in a society; business cycles; inflation and unemployment; global product, service, and financial markets; and how various government policies affect domestic and international markets.