LO1: Describe the Price Elasticity of Demand and its impact on Sellers’ revenues - Taylor Pro College
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Course Content
Module I
0/60
Topic 1: Introduction to Economics
00:00
LO1: Define basic Economic Terminology
00:00
LO2: Explain the relationship between Economic Principles and everyday life
00:00
LO3: Identify the three basic Economic questions and how various Economic systems answer them
00:00
LO4: Comprehend the Theories established by the founder of Modern Economics
00:00
LO5: Knowledge Check
15:00
Topic 2: Demand and Supply
00:00
LO1: Comprehend the nature of Demand, changes in quantity Demanded, and the factors that affect Demand
00:00
LO2: Understand the nature of Supply, changes in quantity Supplied, and the factors that affect Supply
00:00
LO3: Explain how Markets reach Equilibrium
00:00
LO4: Knowledge Check
15:00
Topic 3: Opportunity Costs and Price Elasticity
00:00
LO1: Describe the Price Elasticity of Demand and its impact on Sellers’ revenues
00:00
LO2: Comprehend the Price Elasticity of Supply and the links between Production periods and Supply
00:00
LO3: Identify how Price Elasticities of Demand and Supply determine the impact of an Excise Tax
00:00
LO4: Explain how Governments use Price controls to override the “Invisible Hand” of Competition
00:00
LO5: Knowledge Check
15:00
Topic 4: Supply Curve and Price Searching
00:00
LO1: Describe the Factors that influence the shape and position of the Supply Curve
00:00
LO2: Distinguish between Price-taking and Price-searching behaviour among firms in various Market Structures
00:00
LO3: Analyze how Input Costs and Technology changes affect the Supply Curve
00:00
LO4: Knowledge Check
15:00
Topic 5: Competition, Policy, and Factor Markets
00:00
LO1: Distinguish the Four Market Structures
00:00
LO2: Explain how Perfect Competitive Markets adjust in the long run
00:00
LO3: Understand the Profit-maximizing and its rule
00:00
LO4: Comphrend the Theory of Perfectly Competitive Firms and Markets
00:00
LO5: Describe the Demand conditions faced by Monopolists, Monopolistic competitors, and Oligopolists
00:00
LO6: Recall the key elements of the Prisoner’s Dilemma
00:00
LO7: Knowledge Check
15:00
Topic 6: Macro/Microeconomics
00:00
LO1: Differentiate between Macroeconomics and Microeconomics in Economic analysis
00:00
LO2: Identify Economic Costs (explicit and implicit) of production and Economic Profit
00:00
LO3: Recognize Short-run products and the Law of diminishing marginal returns
00:00
LO4: Explain Long-run results of production and Long-run costs
00:00
LO5: Knowledge Check
15:00
Topic 7: Gross Domestic Product, Externalities, and Globalization
00:00
LO1: Explain the Real Gross Domestic Product and Consumer Price Index
00:00
LO2: Explain why Economists choose to concentrate on Gross Domestic Product
00:00
LO3: Define Inflation, how it is measured, and its effect on nominal and real incomes
00:00
LO4: Comprehend the Official Unemployment Rate, and the different types of Unemployment
00:00
LO5: Knowledge Check
15:00
Topic 8: Profit and Loss
00:00
LO1: Describe the fundamental concepts of Profit, Loss, and Break-even analysis in a Business Setting
00:00
LO2: Explain Gross Profit, Operating Profit, and Net Profit, and interpret their significance in assessing business performance
00:00
LO3: Analyze how Revenue, Cost, and Expense changes impact a company’s Profit and Loss
00:00
LO4: Knowledge Check
15:00
Topic 9: Consumers and Producers
00:00
LO1: Explain the roles and interactions of Consumers and Producers in various Economic Systems
00:00
LO2: Analyze the Factors that influence Consumer Demand and Producer Supply in the Market
00:00
LO3: Describe the impact of Government Interventions on the Behavior of Consumers and producers in the Economy
00:00
LO4: Knowledge Check
15:00
Topic 10: Monetary Policy and Government Regulation
00:00
LO1: Discuss the Bank of Canada and its functions
00:00
LO2: Explain the tools the Bank of Canada uses to conduct Monetary Policy
00:00
LO3: Identify the tradeoff between Inflation and Unemployment
00:00
LO4: Identify Expansionary and Contractionary Fiscal Policies
00:00
LO5: Explain the Multiplier effect of Fiscal Policy, as determined by the Marginal Propensities
00:00
LO6: Knowledge Check
15:00
Module Based Quiz
01:00:00
Final Exam
0/1
Final Exam: Business Economics
01:15:00
BA_BADM500: Business Economics (Professional)
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