Fundamentals of Economics

Discover the economic theories that can lead to a better economy

Understanding at least the basic mechanisms of a nation’s economy is essential if we are to be better-informed citizens and voters.

On this four-week course from Sentinel|9, you’ll learn about the fundamental principles of economic theories, models, and tools employed by the government, firms, and other stakeholders to manage the economy.

Explore key concepts of micro- and macroeconomics

The study of economics can be broken into two major areas: microeconomics and macroeconomics. Microeconomics looks into issues of the individual people and firms within the economy. Macroeconomics, on the other hand, looks at the total output of a nation and the way the nation allocates its limited resources.

You’ll look at the principles of economics and the various theories before learning the concepts and tools of both macro- and microeconomic analysis. You’ll then learn how to apply these to relevant industries by examining real-world case studies.

Delve into monetary policy and fiscal policy and how they affect the economy

This course will guide you through both monetary and fiscal policy, why they are both important, who determines them, and the effects they can have on each other and the economy. Through this, you’ll also gain insights into the relationship between the bank and the government and market failures.

Examine the causes and effects of trade barriers

Trade barriers are measures that governments or public authorities introduce that prevent or restrict overseas trade and investment. As a result of these measures, domestic companies receive a competitive advantage.

During the final week of this course, you’ll explore the different types of trade barriers, from tariffs to taxation. You’ll also look at how exchange rates work and the effect they can have on the economy.

This course is designed for anyone interested in learning more about economics. It will be especially useful for students, business professionals, and those working in local or national government.

This course is designed for anyone interested in learning more about economics. It will be especially useful for students, business professionals, and those working in local or national government.

• Develop a high-level understanding of the basic principles of economics and international trade.
• Assess and use theories, concepts and tools of economic analysis for applications in the relevant industries.
• Assess and evaluate the complex forces that affect the economic wellbeing of consumers, producers and the community in the market system.
• Apply theoretical and practical knowledge of economics in investigating the issues related to organisations and countries and the formulation of appropriate economic solutions and economic policies.