This competency-based course provides an understanding of the basic principles of economics and how they are applied to macroeconomic systems. Topics include an analysis of the role of the consumer in those economics systems, the role of private and public sectors of the economy, market command, and mixed systems, the dynamic relationship between supply and demand, factors of production, and the role of government in maintaining market equilibrium. Government revenue and expenditures and taxation and provision of government services are examined. Finally, the interrelationship of international trade and associated benefits and problems of global economic systems are explored.
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