Home » 2017/2018 GE Model » Society and Behaviour » GESB1006 / GESB012 – Economics of Everyday Life
Suggested Year of Study:1 or 2
Duration:1 Semester
Credit Units:3
Offering Unit:FSS

Department of Economics

Medium of Instruction:English

Pre-requisites

None

Course Description

This course provides an introduction to the basic ideas in economics. It will discuss how individuals and firms make their decisions and how to interact with each other. The operation of markets, including the competitive markets and monopolists markets, will also be discussed. The course will also explore the functioning of labor market, product market and other factor markets. The course will use real-world examples to illustrate the economic principles and their applications.

Intended Learning Outcomes (ILO)

1. Students will be able to describe the basic principle of demand and supply.

2. Students will be able to explain the market equilibrium.

3. Students will be able to explain the behavior of the consumers and the firms.

4. Students will be able to describe the market mechanism.

5. Students will be able to apply the principles in the daily life.