Economics is difficult. It’s also frequently studied and implemented and Economics students may also study business, management, accounting, finance, international business, or politics. Microeconomics and macroeconomics are significant subjects. Microeconomics focuses on household and firm economic decision-making.
Microeconomics students study the following areas:
- Consumer Theory
- Market Structures such as Monopoly
- Monopolistic Competition
- Oligopolistic Competition
- General Equilibrium Analysis
- Welfare Economics
- Adverse Selection and Asymmetric Information
Whether students take Economics 101, or Principles of Economics, and Principles of Microeconomics, or intermediate and advanced microeconomics courses, course structure and economic methodologies vary greatly.
Students must learn the following subjects in macroeconomics:
- National Income Accounting
- Inflation and Unemployment
- Phillips Curve
- Keynesian Model of Macroeconomic Theory
- Demand and Supply Analysis
- Supply Side Economic Analysis
- Open-Economy and Balance of Payment
- Exchange Rate and Mundell Fleming Model
- IS-LM Model
- Money Demand Theories
- Money Supply in Economy
- Fiscal Policy
- Monetary Policy
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