Complete Introduction to Economics for Beginners 2021

About this Course Economics | Basics to Advanced Level|

This course was recorded for university students for making them professionals in economics. As some of the students are not from the economics background so in this course we start from a very scratch level to clear their concepts. You can check out the preview lectures every topic is explained in very detail.

In this course, we start from very basic level concepts of economics to advanced level. The course is carefully designed and structured in the simplest way to give you an understanding of Basics to Advances Concepts of Economics, Demand and Supply Analysis, Elasticity Concepts in Economics, High-Level Concepts of Economics for Professionals, Depreciation Depletion, Economic Thoughts, Ten(10) Principles of Economics, Revenue, Profit and Cost Analysis, Businesses and Form of Businesses, Linear Programming In Economics

Course Content

Basic Concepts of Economics

1. Economics, Agents of Economics
2. D- Economic System, E-Slope in Economics, Slope in Economics, F Variables
3. Engineering Economics, Economics VS Engineering Economics, Goods and Services
4. Types of Goods, Types of Services, Terminology, and Symbols

Demand and Supply

1. Concepts of Demand And Quantity Demanded
2. Law of Demand, Functions of Demand, Shifting of Demand
3. Supply, Types of Supply Schedules and Curves, Factors Affecting Supply
4. Law of Supply, Increase or Decrease in Supply with Examples
5. Equilibrium of Demand and Supply, Effect of Shift in Supply Demand with Algebra
6. Goods in Economics

Elasticity

1. Elasticity, Representation and Find Price Elasticity of Demand with Example
2. Representation and Find Price Elasticity of Supply, Income Elasticity
3. Measurement of Income Elasticity and Cross Elasticity

Advanced Concepts of Economics

1. Measurement of Financial Effectiveness, Time Value of Money, Present Value
2. Future Value with Examples
3. Profitability Index(PI), Measurement of PI, Interpreting and Application of PI
4. Examples of Profitability Index
5. Payback Period, Significance of Payback Period, Examples of Payback Period
6. Net Present Value, Acceptance Rule of Net Present Value
7. Examples of Net Present Value (1-5)
8. Examples of Net Present Value (6-10)
9. Internal Rate of Return (IRR), Advantages and Disadvantages of IRR
10. Measurement of Financial Effectiveness, TYM
11. Environment and Economics, Engineering Economics Decisions
12. Economic Indicators

Depreciation and Depletion

1. Depreciation, Factors in Computing Depreciation (Characteristics, need, causes)
2. Depreciation Methods
3. Comparing Depreciation Methods, Depletion, Cost Determination and Depletion
4. Differences Between Depreciation and Depletion

Economic Thoughts

1. Economic Thoughts, Classical Thoughts
2. Non-Classical Thoughts, Keynesian Economists
3. The Principles of Economics By Gregory Mankiw
4. Ten(10) Principles of Economics

Production Analysis

1. Production, Types of Production
2. Factors of Production
3. How These Factors are Interconnected, Economics of Scale

Revenue, Profit and Cost (Cost Analysis)

1. Revenue, Profit, Cost,
2. Types of Costs
3. Cost Formulas
4. Return to scale, Practice Problems
5. Practice Problems

Businesses

1. Business, Forms of Businesses (Sole Proprietorship, Partnership
2. Forms of Businesses Continue (Corporation)
3. Forms of Businesses Continue (Franchising, Mergers)
4. Forms of Businesses Continue (Joint Venture)
5. Forms of Businesses Continue (Acquisition )

Linear Programming in Economics

BEFORE YOU ENROL:

1. Watch the Preview video

2. Watch the sample lectures

3. Thoroughly read this course description

4. Be fully aware that this course was recorded for University Students Only Enrol if you find this Course Helpful.

Economics is a complex subject filled with a maze of confusing terms and details which can be difficult to explain. Even economists have trouble defining exactly what economics means. Yet, there is no doubt that the economy and the things we learn through economics affect our everyday lives.

In short, economics is the study of how people and groups of people use their resources. Money certainly is one of those resources, but other things can play a role in economics as well. In an attempt to clarify all this, let’s take a look at the basics of economics and why you might consider studying this complex field.

The Field of Economics

Economics is divided into two general categories: microeconomics and macroeconomics. One looks at the individual markets while the other looks at an entire economy.

From there, we can narrow economics into a number of subfields of study. These include econometrics, economic development, agricultural economics, urban economics, and much more.

If you have an interest in how the world works and how financial markets or industry outlooks affect the economy, you might consider studying economics. It’s a fascinating field and has career potential in a number of disciplines, from finance to sales to the government.

Two Essential Concepts of Economics

Much of what we study in economics has to do with money and the markets. What are people willing to pay for something? Is one industry doing better than another? What is the economic future of the country or world? These are important questions economists examine and it comes with a few basic terms. You can find answers to all these questions from this course.

This course is from OZIS Academy.

OZIS Academy is an E-learning platform that meets the needs of an ever-growing population of students who cannot or do not prefer to participate in the traditional classroom and those students who cannot clear their concepts in physical classes as they are weak in studies or they cannot get good teachers.

OZIS Academy is the best platform for such struggling students as it provides a large no of courses from all the universities around the world. OZIS Academy offers courses from brilliant Ph.D. Professors from prestigious Universities who are experts in their relative fields. We have a team of well-experienced full-time faculty and dedicated staff including talented retired and working University professors. Our mission is to impart most qualitative education by the way of systematic methodical and scientific approaches.

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