ECO 561 complete course with syllabus A++ GRADED

Course Topics & Objectives Week One: The Basic Concepts for Economic Reasoning • Analyze how economics explores the use of scarce resources and forces choice among alternatives. • Explain the economizing problem and the models used in economics. • Analyze how the laws of supply and demand determine equilibrium price and quantity. Week Two: Cost Concepts & Profit Maximization • Differentiate the costs of production in a firm. • Explain profit maximization principles in a purely competitive market. • Apply incremental cost and contribution analysis to make a business decision. Week Three: Market Structure & Strategic Choice • Differentiate among the pure competition, monopolistic competition, oligopoly, and monopoly market models. • Describe pricing and non-pricing strategies in monopolistic competition, oligopoly, and monopoly market models. • Describe the role of technology, R&D, and efficiency within the market models. Week Four: Macroeconomic Measurement & Basic Concepts • Explain the concepts and measurement of Gross Domestic Product (GDP). • Analyze the trends and cycles of real GDP growth in business cycle. • Analyze the causes and remedies of unemployment and inflation. • Analyze the basic macroeconomic relationships. Week Five: Money, Creation & Control and Monetary Policy • Explain the concepts of money and interest rates. • Explain how banks create money. • Evaluate the effectiveness of the central banks monetary policy in stabilizing the economy. Week Six: Global Context: Business Beyond National Borders • Explain the concept of comparative advantage and its recommendation for specialization. • Explain the effects of barriers to free trade and the reasons countries impose them. • Explain how the foreign exchange market works and how exchange rate risk is managed.