Economics

Mada

• Demonstrate mastery of basic concepts, theories and principles in economics

  Mada 9

  • Demonstrate an understanding of the concepts, theories and principles used in economics

    Mada 6

    • Describe the concept and scope of economics (meaning and origin, importance, its relationship with other subjects, basic terminologies, branches, the central economic problem and fundamental economic questions)→
    • Describe economic systems (forms, features, advantages and disadvantages)→
    • Explore the basic tenets of microeconomics (meaning, scope and goals)→
    • Describe the price theory (demand, supply, market equilibrium and elasticity)→
    • Describe the theories of production and costs (factors of production, production function, objectives and profit of firms, scale and costs of production and revenue)→
    • Describe the concept of the market (meaning, types and structures)→

  • Demonstrate mastery of economic analysis

    Mada 3

    • Examine the influence of the economic system on resource allocation and distribution→
    • Use the price theory to explain the effects of pricing on consumer behaviour and business profits→
    • Apply production, cost and market theories to make decisions on price and output→

• Conduct a project on Economics

  Mada 1

  • Design and carry out a project on Economics

    Mada 1

    • Design and execute a research project on an appropriate economic problem→