Description
This course provides an overview of economics and establishes a foundation and vocabulary for future courses. It gives an applied, practical introduction to macroeconomics and microeconomics. At the macro-economic level the course helps the learner understand how the American economy functions, and what impact changes in the economy may have on the individual and the organization, as well as the impact of the global economy. At the microeconomic level the course examines how individuals and firms make economic decisions. This knowledge becomes the basis of understanding key concepts of supply, demand and pricing, as well as average and marginal costs and breakeven analysis.