ECO2023

Students will learn the core concepts of scarcity, opportunity cost, marginal analysis and the role of incentives.

Identify and determine the supply and demand to find equilibrium price and quantity and government incentives on market equilibrium, such as price ceiling and floor.

Demonstrate the understanding of various elasticities (price, income and cross price etc.) and apply them in real-world scenarios.

Demonstrate the understanding of various elasticities (price, income and cross price etc.) and apply them in real-world scenarios.

Students will learn the comparative advantage, gains from trade, terms of trade and effects of trade barriers such as tariffs and quotas.