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Fundamentals of Economics

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Fundamentals of Economics
  • Description
  • Outcome
  • Certification
  • This free online course offers a comprehensive, no-nonsense guide to economics. Topics include the production, distribution and consumption of goods and services as well as economic growth and activity, employment, the market economy, inflation, wealth, and income distribution.


    This course is suitable for people studying business and economics or anybody with an interest in economics and current affairs.

  • On completing this course you will know the principles involved in economics. You will understand the inter-related studies of economics such as microeconomics and macroeconomics. You will be aware of the the characteristics of wants, resources, the scarcity of these resources, our choices, costs and economic systems. You will gain a good knowledge of economic activity through investment, government, exports, income, consumers, budgetery action, exchange rates and many other activities. You will know all about economic growth, employment, competitive markets, inflation, wealth and income distribution.

  • All Alison courses are free to study. To successfully complete a course you must score 80% or higher in each course assessments. Upon successful completion of a course, you can choose to make your achievement formal by purchasing an official Alison Diploma, Certificate or PDF.

    Having an official Alison document is a great way to share your success. Plus it’s:

    • Ideal for including in CVs, job applications and portfolios
    • An indication of your ability to learn and achieve high results
    • An incentive to continue to empower yourself through learning
    • A tangible way of supporting the Alison mission to empower people everywhere through education.

Modules List( 8 )
  • Introduction to Economics
    • The Economic Way of Thinking
    • Other Social Sciences
    • Relative Scarcity
    • Relative Scarcity: characteristics of wants and resources
    • The Concept of Relative Scarcity
    • Choice
    • Cost of Choices
    • Opportunity Costs
    • Efficiency and Welfare
    • Economic Systems
    • Economic Systems
  • Economic activity
    • Economic Activity
    • The Nature of Economic Instability
    • Aggregate demand
    • Private Consumption Expenditure (C)
    • Private Investment Expenditure (I)
    • Government Current/Consumption Expenditure (G1)
    • Government Capital/Investment Expenditure (G2)
    • Net Exports (X-M)
    • Disposable Income
    • Interest Rates
    • Consumer Sentiment/Confidence
    • Redistribution of Income
    • Business Sentiment/Confidence
    • Budgetary Action
    • The Exchange Rate
    • Aggregate Supply
    • Trade Union Activity
    • Immigration
    • Productivity
    • Company Profits
    • Real Unit Labour Costs
    • Participation
    • Real Interest Rates
  • Economic growth
    • Definition of Economic Growth
    • Measurement of Economic Growth
    • The Sources of Economic Growth
    • Factors Contributing to Economic Growth
    • Effects of Economic Growth
  • Economics and employment
    • Factors contributing to full employment
    • Economics and employment
    • The unemployment rate
    • Measurement of Unemployment - Participation
    • Limitations of the unemployment rate
    • Types of unemployment
    • Causes of unemployment
    • Effects of unemployment
  • The competitive market system
    • Shifts in the Demand Curve
    • The Competitive Market System
    • Demand Schedule
    • Movements Along the Demand Curve
    • Shifts in the Demand Curve
    • Supply Schedule
    • Movements Along the Supply Curve
    • Shifts in the Supply Curve
    • Market Equilibrium
    • Disequilibrium
    • Market Equilibrium Graphs
    • Resource Allocation in the Competitive Market
    • Behaviour of Economic Participants
    • Elasticity
    • Elasticity of Demand
    • Elasticity of Supply
    • The Contemporary Market
  • Types of inflation
    • Causes of Inflation
    • Demand inflation
    • Cost inflation
    • Factors Contributing to Inflation
    • Effects of inflation
  • Wealth and income distribution
    • Equity in the Distribution of Income and Wealth
    • The Lorenz curve
    • The Gini coefficient
    • The poverty line
    • Factors affecting the distribution of income and wealth
  • Assessment
    • Introduction to Economics Assessment
Topics List ( 11 )
Introduction to Economics
Introduction to Economics This course is an introduction to economics and covers topics such as relative scarcity, efficiency and welfare, cost of choices, and economic systems. The Contents tab displays all the lessons and topics of the course. Each time you click the Contents tab, you will come to this page. A green tick indicates those lessons and topics you have completed, so you can easily see your progress.
Topics List ( 23 )
Economic activity
Economic activity This course covers topics in economic activity such as private consumption expenditure and private investment expenditure, disposable income, interest rates, consumer sentiment and confidence, and business sentiment and confidence. The Contents tab displays all the lessons and topics of the course. Each time you click the Contents tab, you will come to this page. A green tick indicates those lessons and topics you have completed, so you can easily see your progress.
Topics List ( 5 )
Economic growth
Economic growth This course covers topics associated with economic growth such as measurement of economic growth, sources of economic growth, and factors contributing to economic growth. The Contents tab displays all the lessons and topics of the course. Each time you click the Contents tab, you will come to this page. A green tick indicates those lessons and topics you have completed, so you can easily see your progress.
Topics List ( 8 )
Economics and employment
Economics and employment This course covers topics related to economics and employment such as the causes, types and effects of unemployment. The Contents tab displays all the lessons and topics of the course. Each time you click the Contents tab, you will come to this page. A green tick indicates those lessons and topics you have completed, so you can easily see your progress.
Topics List ( 17 )
The competitive market system
The competitive market system This course covers topics in economics such as the demand curve, the supply chain, and market equilibrium. The Contents tab displays all the lessons and topics of the course. Each time you click the Contents tab, you will come to this page. A green tick indicates those lessons and topics you have completed, so you can easily see your progress. 
Topics List ( 5 )
Types of inflation
Types of inflation This course covers topics related to inflation such as demand inflation, cost inflation, and price stability. The Contents tab displays all the lessons and topics of the course. Each time you click the Contents tab, you will come to this page. A green tick indicates those lessons and topics you have completed, so you can easily see your progress.
Topics List ( 5 )
Wealth and income distribution
Wealth and income distribution This course covers topics in economics such as the Lorenz curve, the Gini coefficient, the poverty line, and distribution of income and wealth. The Contents tab displays all the lessons and topics of the course. Each time you click the Contents tab, you will come to this page. A green tick indicates those lessons and topics you have completed, so you can easily see your progress.
Topics List ( 1 )
Assessment
Assessment
Course Features
  • Duration

    2-3 Hours

  • Publisher

    XSIQ

  • Video

    Yes

  • Audio

    Yes

  • Assessment

    Yes

  • Certification

    Yes

  • Price

    Free

  • Reward

    50 Pts

  • Responsive

    No

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