Introductory Course to Economics

During this four week introductory course you will learn the fundamental concepts of economics. On completion of the course, we expect you to be able to:

• Understand basic economics concepts. You can follow the economic news and understand the economic context of news stories. In addition, you have the potential to dig deeper into the subject and learn more through your own initiatives.
• Discover and identify the economic issues within your surroundings. For example, in your daily life you can be sensitive to economic issues, such as the interrelationship of markets and how this may influence the prices of products that are important to you.
• Analyse real-world problems. At your work place or in your study, you can use your newly-gained knowledge to explore economic problems related to competition, economic indicators and international trade.

The course has been created by lecturers at the International Business School (IBS), part of Hanze University of Applied Sciences, Groningen, based in the Netherlands. This is the first time a Dutch university has launched a MOOC in introductory-level economics.

Recommended Background

This introductory course is designed for those interested in business, management or economics. However, it does not require a background in business or any other specific area. Pitched at an introduction level, an economics or mathematics background is not needed. All we ask you to bring to the course is a strong motivation to learn about the field of economics! The course is ideal for those at end-secondary school (high school) level or higher, such as those considering a business-related bachelor’s degree or those switching to a business-related field of study.

Microeconomics: The branch of economics that analyses the market behaviour of individual consumers and businesses in an attempt to understand the decision-making process of companies and households.

Week 1: Microeconomics Fundamentals of supply & demand.

Week 2: Microeconomics: Perfect competition and monopoly

Macroeconomics: The field of economics that studies the behaviour of the aggregate (whole) economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels.

Week 3: Macroeconomics: Economic performance and employment

Week 4: Macroeconomics: Government intervention and trade