Economics may appear to be the study of complicated tables and charts, statistics and numbers, but, more specifically, it is the study of what constitutes rational human behaviour in the endeavour to fulfil needs and wants. (Reem Heakal)
It is difficult to find a more useful subject for the future life of the students than ¿Introduction to Economics¿: The study of economics investigates the consequences of scarcity, which forces people, organizations, and governments to choose among competing objectives. Economics looks at these choices and how they affect the production of goods and services, market prices, national output, unemployment, inflation, economic growth, and the use and distribution of resources within and across nations.
¿all of the issues that move and could change the world.
COMPETENCES AND SKILLS THAT WILL BE ACQUIRED:
This course aims to enable students so that they can use economic models and skills to analyze real life economic problems. It examines both microeconomics and macroeconomics. The goals of this course are: first to increase the student¿s familiarity with economic concepts and theories; second to increase the student¿s ability to use formal quantitative tools to analyze economic problems; and third to develop the student¿s ability to apply economic reasoning to real situations and decisions.
This course aims to familiarize students with the economic method of analysis and its applications to decision making and work. This requires the understanding of the following key concepts: 1. Feasible choices (budget set, technology, opportunity cost) and decision making (preferences, profit maximization). 2. Interaction of economic agents (market, supply, demand, equilibrium). 3. Assessment of economic outcomes (social optimum, Pareto criteria, market failure -externalities, public goods).
1. Handling statistical and documental economic data.
2. Analyzing and interpreting the indicators characterizing the activities of economic entities and countries.
3. Individual problem solving and ability to share and discuss the results with other students.
4. Oral and written communication skills.