Principles of Economics

This course covers both micro- and macroeconomics. The microeconomic subjects studied include the workings of the market mechanisms—how supply and demand determine the quantities and prices of goods and factors of production and international trade, and how quantities and prices are affected by government intervention. The macroeconomic subjects include the determinants of economic growth, financial institutions, short-run fluctuations in output and employment, inflation, macroeconomics of the open economy, and the role of government policy.