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Economics Professional (BUS-ECPR1)

$2,695.00

Course Description

The Economics Professional program presents basic concepts necessary to an informed understanding of the economy. Starting with individual consumer behavior and corporate actions, the program moves on to explain both micro- and macroeconomics and the interplay between these 2 perspectives in terms of output, unemployment, inflation, productivity and growth. The effects at the micro level are different to those at the macro level, but sometimes they can also run in parallel and students will study the different ways in which all aspects of the economy are affected.

This extensive program Introduction assumes students are new to the study of economics outlining economic theory and moving through analysis of supply and demand, government action, competitive markets and different types of economic markets that present unique challenges. This program encompasses economic principles (both microeconomic and macroeconomic) and problems. The purpose of the program is for students to develop a logical, conceptual, and analytical understanding of economic principles and to deal with problems associated with the allocation of resources, decisions made by consumers, production by firms, and pricing in various market conditions, government actions in markets, measuring aggregate output, economic growth, employment and unemployment, money and banking, and fiscal and monetary policies intended to achieve economic goals.

Outline

At the conclusion of this program, students will be able to:

Analyze the economic way of thinking
Explain how free and competitive markets allocate resources efficiently through the interaction of supply and demand
Evaluate the different effects caused by changes in demand and supply conditions
Analyze how government actions affect markets
Evaluate the effects of trade on the economy
Analyze the effects of externalities
Analyze a firm’s cost of production
Analyze firm behavior in perfectly competitive markets
Differentiate between monopoly, monopolistic competition, and oligopoly
Measure components of the macroeconomy
Analyze the factors influencing economic growth
Contrast fiscal and monetary policy
Analyze the economic way of thinking
Explain how free and competitive markets allocate resources efficiently through the interaction of supply and demand
Evaluate the different effects caused by changes in demand and supply conditions
Analyze the measurements of gross domestic product and inflation as key indicators of aggregate economic performance
Explain the significant relationships between employment and output in the short and long runs
Analyze the differences in growth rates over time and between economies
Explain how the financial markets function to allocate loanable funds and determine interest rates
Outline the key components of the U.S. monetary system
Analyze changes in the supply of and demand for money
Explain how changes in aggregate supply and aggregate demand result in business cycles
Analyze economic policy using the aggregate expenditure multiplier
Analyze the relationship between inflation and unemployment in the short run
Analyze the demand and supply effects of fiscal policy on employment and gross domestic product
Analyze the objectives and tools of the Federal Reserve’s monetary policy
Analyze the effects of government policies in international markets
Analyze the economic way of thinking
Explain how free and competitive markets allocate resources through the interaction of supply and demand
Evaluate the different effects caused by changes in demand and supply conditions
Evaluate the models used by economists to explain how efficient production decisions are made in an environment of scarcity
Evaluate the impacts of government actions in markets on efficiency and fairness
Analyze the impacts of taxes on consumers, producers, employers, and workers
Evaluate the benefits and costs of international trade
Assess the provision and importance of public goods
Evaluate methods of efficiently dealing with negative externalities
Determine how rational consumers make choices to maximize their satisfaction
Analyze a firm’s short-run and long-run costs
Analyze the decisions made by a firm operating in perfectly competitive markets
Analyze the behavior of a monopoly
Evaluate how firms in monopolistic competition and oligopoly determine their profit-maximizing strategies
Evaluate the way factor markets determine a society’s distribution of income
Use Microsoft Office

Duration

6 months

Hours

485

Audience

There are no specific prerequisites for this program. Students will need access to both a computer and the internet. Students should have basic keyboarding and computer skills, and be comfortable navigating the internet.

Certification

Language

English

Instructor

This class supported by an Educational Mentor. Our educational mentors have worked or are working in the subject they mentor. Educational Mentors reviews student work, student progress, and interacts with students as needed. They respond to any questions or concerns you might have, as well as encouraging and motivating you to succeed.
Patricia has a degree in Medical Assisting from The Career College of Northern Nevada, Dental Assisting from the Community College of the Air Force, and is currently working on her B.S. in Criminal Justice Studies from Grand Canyon University in Arizona. She has over 10 years of experience working in doctors’ offices and has been an Air Force Reservist since 2009. She has worked as an instructor for multiple schools over the last 4 years teaching medical and dental assistant curriculum, as well as OSHA safety requirements and career development.

Requirements

This program does not require any additional purchases of supplementary materials.

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