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CURRICULUM FOR ECONOMICS
  • Introduction to economic concepts and tools
    • Scarcity of choice, limited resources, rationality of choice
    • Economic Efficiency, utilization of resources
    • Opportunity costs, definition, implication for making choices
    • Alternative Economic System, centrally planned economy, free market and mixed economies
  • Microeconomics
    • Demand, law of demand, elasticity of demand, aggregate demand
    • Supply, elasticity of supply, aggregate supply
    • Circular Flow of Goods, exchange of goods and services, participants in the model
    • Price Determination, forces of supply and demand, equilibrium
  • Macroeconomics
    • Gross National Product, importance of GDP, determinants of GDP
    • Potential and Actual Output, economic efficiency, utilization of resources
    • Productivity, marginal utility, marginal cost, marginal benefit
  • Organisation of Industries
    • Perfect/Imperfect Competition, product differentiation, imperfections
    • Monopoly, features,, market power, sources of monopoly power
    • Oligopoly, market structure, influences and consequences, cartels
  • International Sector
    • The Theory of Absolute Advantage, input costs, advantages over competitors
    • The Theory of Comparative Advantage, opportunity costs, competitiveness of nations
    • International Trade, tariffs, quotas, trade restrictions, regulations, entry barriers
  • Money, Central Bank and Monetary Policy
    • The Function of Money, medium of exchange, a unit of account, a standard of deferred payment, and a store of value
    • Banking and Credits, exchange rates, interest rates
    • The Central Bank, role and purpose
    • Monetary Policy and Fiscal Policy, role of government, taxation, interest rates, subsidies
    • Bonds, debtors, creditors and security
  • Inflation and Unemployment
    • Inflation, causes and effects of Inflation, inflation rate, recession
    • Policy Implications, tools for fighting inflation and unemployment
    • Unemployment, types of unemployment, effects, controlling or reducing unemployment
  • The World Economy
    • Developing Countries, types of economies, rules and regulations, growth, Asia
    • Globalisation, effects, trade agreements, technology, new trends
    • Abbreviations
  • Accounting
    • Financial statements, income statements, balance sheet, cash flow statement
    • Accounting principles, understanding of cash flow, assets, liabilities, profit and loss, expenses
    • Accounting journals and ledgers, definition and types
  • Marketing
    • Marketing philosophies, production, sales and market orientation
    • Sales and Market Orientations, firm’s business, firm’s goals
    • The Marketing Mix, 4 P’s ( product, place, promotion, pricing )
    • Marketing Plan, implementation, evaluation
  • Management
    • Strategic Management, functions, process, approaches, strategies, operations
    • Business Plan, implementation, evaluation, how to write

 




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