Principles of Economics

• • The Economic Problem
  • Demand and supply
  • Elasticity
  • Efficiency and Incidence of Tax
  • Externalities
  • Profit, Opportunity Cost, and Production
  • Production and Cost
  • Perfect competition
  • Monopoly
  • Monopolistic Competition
  • Oligopoly

No eligibility requirements

Special requirements

• OtherDetails -

  To obtain a pass grade overall students will normally need to achieve at least 40% in the final examination

The aim of this subject is to introduce students to the meaning and application of fundamental economic principles.

The economic decisions faced by individuals, households, analysis of prices and output determination in the context of markets and incentives, market structures, competition policy and its implication for the general economy, the strengths and weaknesses of the market mechanism and the role of public policy; and economic analysis of contemporary economic issues in the macroeconomy.

This subject is part of the Business Pathway.

OUA Pathways recommends the best subjects to start your studies, even if you're not sure which degree you want to do. Each pathway includes four subjects based on your area of interest. Once you complete your recommended path you'll be able to choose from a range of degrees in your area of interest. Plus, each of the subjects you complete through OUA Pathways can also be credited towards your chosen degree.

Learn more about OUA Pathways.

• Continuous Assessment (20%)
• Applied writing (1350 words) (30%)
• Invigilated Exam - 3 Hours (50%)