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Modern Economics - Revised

Economics
Free Course
Economics is a social science that studies how society uses its limited resources. It deals with the production, distribution, and consumption of goods and services. This course will introduce you to modern economics. You will study inflation, deflation, and capacity utilization as well as look into unemployment and the Consumer Price Index (CPI). In addition, you will study the China-US currency situation and China inflation.
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  • Duration

    1-2 Hours
  • Assessment

    Yes
  • Certification

    Yes
  • Responsive

    Yes
  • Publisher

    Khan Academy

Description

Outcome

Certification

View course modules

Description

Inflation is often expressed as a percentage and indicates a decrease in the purchasing power of a nation's currency. This course will first discuss inflation. You will learn how it acts as a quantitative measure of the rate at which the average price level of selected goods and services in an economy increases over a period of time. You will then look into its opposite, which is deflation. Deflation is the decline in prices for goods and services and happens naturally when the money supply of an economy is fixed.

The Consumer Price Index (CPI) is used to examine the weighted average of prices of a basket of consumer goods and services. This may include transportation, food, and medical care. This course will discuss the CPI index along with Unemployment Rate. You will then study the data on Chinese foreign assets and Chinese - US balance of payments. You will also look into the effects of floating exchange on China and on the USA.

Following the recent global financial crisis, there has been a huge increase in people seeking to learn about how economies and modern economic systems work. By the end of this course, you will understand how economic decisions taken in one country can dramatically affect the economies of other countries around the world. So check out the course today, start gaining a deeper understanding of modern economic concepts and principles, and the interrelationship of global economies.

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Learning Outcomes

Having completed this course you will be able to:


  • Define economic concepts such as Capacity Utilization Rate, Return on Assets, Gross Profits and Cost of Goods Sold
  • Discuss the principles behind Earnings Before Interest and Taxes, Breakeven Point, Aggregate Capacity, Aggregate Demand and Aggregate Utilization
  • Examine the rise of the Chinese economy and how it affects US economy

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire official Certification, which is a great way to share your achievement with the world. Your Alison Certification is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certification for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certification is available to purchase through the Alison Shop. For more information on purchasing Alison Certification, please visit our faqs. If you decide not to purchase your Alison Certification, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certification pricing, please visit our Pricing Page.

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