Overview
This topic is designed to introduce how economies operate. It considers the interaction and choices of individuals, businesses, and governments. It introduces key microeconomic and macroeconomic principles that help inform how decisions are made in the business environment.
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Tuition pattern
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Aims
This topic aims to consider the applications of microeconomic and macroeconomic principles. The basics of consumer behaviour, elasticity and market efficiency and the short-run and long-run output decisions of a business are considered. It compares competitive and monopolistic market outcomes from both a business and societal perspective. It considers national output and expenditure, inflation, unemployment the role of fiscal and monetary policies.
Assessments
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Requisites information
Anti-requisites: