In this course, students will discuss large-scale, economic phenomena to gain an understanding of the role and relevance of economics in business studies. Students will examine the behaviours of individual nations in a global economics context. This course will present the Economic Problem and discuss such concepts as scarcity, choice, opportunity cost as well as efficiency & unemployment. You will examine demand & supply and understand how and why economists measure the economy, while learning about GDP, national income and inflation. Further, students will explore business cycles and the aggregate expenditures model. They will review explanations for such things as prices and output in aggregate demand and supply from a macroeconomics perspective. And finally, students will consider federal government’s fiscal policy, examine technological change, global trade and the effect of tariffs.