Rational Decision under Uncertainty
How would an individual make a rational decision under uncertainty? This article explains how economists characterize decision-making under uncertainty. Economic […]
Foundations of Economics
Join us to gain knowledge on fundamental economic theories, their practical applications, and the foundations of economics. By exploring the basic principles and concepts that underpin economic analysis, you will gain a deeper understanding of how markets work, how resources are allocated, and how individuals, businesses, and governments make decisions about production, consumption, and distribution. Whether you are interested in pursuing a career in economics or simply want to better understand the world around you, our program provides a solid foundation for continued learning and growth.
Scarce Resources in Economics
What are the scarce resources in economics, and why should society understand what they are? In your economics class, students should
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Motives of Money Demand and Supply
What are the motives of money demand and supply? Most of us participate daily in the money market as demand
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Synergy between Health and Economics: Oil-Price-Crash or Corona-Crash
Health shocks can also cause economic shocks (ceteris-paribus). The coronavirus pandemic is one of the health shocks that might unravel another global economic shock. Why is that the case? Fact number one, health is a basic human need. Consequently, the satisfaction the health needs requires human decision-making in all economies. Decision-makers face the challenge of managing the synergies between health and economics amid a health shock. How is the Scenario?
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The Macroeconomic Policy Objectives
What are the macroeconomic policy objectives in an economy? What should you understand by Magic Square and Hexagon, economic policy
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What is Econometrics?
Econometrics is part of the economic as a science, which deals with the statistical (empirical) modelling of economic theories (hypotheses) in order to explain, confirm or disprove economic theory empirically.
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The Bridge between Leadership and Management
You are a leader! Leadership and management skills are the fundamentals of social and organizational behavior.
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What is Economics?
Economics is a social and behavioral science, focusing on decision-makers’ actions in the face of various restrictions and social interactions. It covers microeconomic and macroeconomic levels and governmental policy. This discipline explains rational and irrational behaviors, incorporating principles of maximum output from fixed resources and minimum input for pre-defined outcomes. The study of economics involves sectors such as households, businesses, and government, all making decisions within a defined economy.
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Democracy in Modernity
How modern is democracy?
Is the modern global society the Democracy we want and the World in which the future generations would like be born into? The current society needs to familiarize itself with the principles of democracy, amidst the current trend in society to neglect the willingness to diplomatic cooperative and constructive dialogue between different views and ideologies.
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