Principles of economics

This unit explores:

Microeconomics:
scarcity, economic choice, economic systems, demand and supply analysis, elasticity, costs of production and profit-maximisation, perfect competition, monopoly, monopolistic competition and oligopoly, and government policy-implications on market outcomes.

Macroeconomics:
aggregate demand and aggregate supply, the money market and monetary policy, the government budget deficit and fiscal policy, determination of interest rates, inflation rates, unemployment, foreign currency exchange rates, and the balance of payments.