A study of the historical evolution of economic thought and economic systems with major emphasis on the "market system" (capitalism). Topics include scarcity, economic systems, supply and demand, competition, monopoly power, income distribution and the role of government in the economy.

A study of the aggregate economy (including the international economy). Topics include national income accounting, economic indicators, business cycles, economic growth, the role of money in the economy, and monetary and fiscal policies. Alternative schools of economic thought are also presented.

Prerequisites