SSC 8-Basic Microeconomics-2

This course is a study of national economic issues and measures of performance. The focus is on national income accounting and determination. Students are introduced to problems pertaining to unemployment and inflation, expenditure decisions, aggregate demand management, unemployment, trade imbalances, income distribution, fiscal and monetary policies, and the global environment (international trade, globalization of markets, foreign exchange controls, trade restrictions, and international trade agreements, etc. ) The course will focus on how individuals make decisions that affect their income and wealth, how firms make decisions that affect profits and production, and how government regulation affects individuals and firms. This will equip the students with a thorough understanding of the demand, supply and competitive markets; market power and pricing strategies; game theory and strategic thinking; uncertainty and information; and market failures.