Description

When a government raises taxes on cigarettes, the price of cigarettes increases, and people may decide to smoke less, leading to a decrease in the demand for cigarettes.

Learning outcomes:

Understand the basic principles of economics and its relevance to daily life decisions.

Comprehend the circular flow model and the market system.

Analyse the concepts of supply, demand, and pricing mechanisms.

Evaluate the concept of elasticity and how it affects market behaviour.

Recognize market failures and the role of government intervention in correcting market failures.

Understand the factors that affect economic growth, including measuring GDP, unemployment, inflation, and income distribution.

Explain the role of fiscal policy in macroeconomic stabilization.

The Economics course covers the basic principles of economics and its relevance to daily life decisions. The course is designed to provide a comprehensive understanding of the circular flow model and the market system, including supply, demand, pricing mechanisms, elasticity, market failures, and government intervention. The course also explores topics such as production and costs, market structures, money, banking, and the financial system, measuring GDP, unemployment, inflation, income distribution, and poverty. Additionally, students will learn about international finance and fiscal policy.

The course is suitable for anyone who wants to understand how the economy works, including its mechanisms and policies. It is also ideal for those who wish to pursue a career in economics or related fields.

Certification

Upon completion of the course, learners can obtain a certificate as proof of their achievement. You can receive a £4.99 PDF Certificate sent via email, a £9.99 Printed Hardcopy Certificate for delivery in the UK, or a £19.99 Printed Hardcopy Certificate for international delivery. Each option depends on individual preferences and locations.

CPD

10 CPD hours / points Accredited by CPD Quality Standards

Who is this course for?

Students interested in pursuing a degree in economics or related fields.

Professionals seeking to deepen their knowledge of economic principles.

Individuals interested in understanding the economic issues affecting their daily lives.

Anyone who wants to broaden their understanding of how the economy works.

Career path

Economist: £25,000 - £100,000 per year

Financial analyst: £25,000 - £70,000 per year

Management consultant: £30,000 - £80,000 per year

Government policy advisor: £25,000 - £70,000 per year

Investment banker: £35,000 - £100,000 per year

Research analyst: £20,000 - £50,000 per year

Course Images

Supply and Demand Studies

By NextGen Learning

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