The Economics Level 2 course provides a comprehensive introduction to the fundamental principles of economics, starting with the exploration of market structures. Students will learn about perfect competition, monopolies, monopolistic competition, and oligopolies, gaining an understanding of how market power influences pricing and output decisions. This foundational knowledge is essential for understanding the various ways businesses and governments interact within an economy.

The course delves into pricing strategies, covering key concepts such as price discrimination, bundling, predatory pricing, and dynamic pricing. Students will understand how companies use different strategies to maximize profits and how these strategies impact consumers and competition. A key aspect of the course is international trade, where students will explore the benefits and costs of trade, the theory of comparative advantage, the impact of exchange rates, and protectionism’s effects on the global market.

Monetary and fiscal policies are critical areas of focus. Students will gain a solid understanding of how central banks control the money supply, the tools used in monetary policy, and its impact on inflation and business cycles. They will also learn about fiscal policy, how governments use taxation and spending to influence the economy, and how these policies can impact both short-term economic stability and long-term growth.

Finally, the course explores the key factors behind economic growth and development, including the role of human capital, technology, and institutions in fostering economic advancement. Students will also study the complex relationship between inequality and growth, providing a nuanced view of how different societies experience and manage economic development. This course offers a holistic view of economic concepts and equips students with the analytical tools needed to understand both domestic and global economic systems.