This course offers a deep dive into the diverse landscape of economic theory and policy, covering a range of topics from classical economics to contemporary growth theories. Participants will explore the foundational concepts of classical economics, the nuances of marginal analysis, utility maximization, and the evolution of neoclassical theories in response to economic crises.

After the successful completion of this course, you will be able to:

Introduction to Economic Theories and Models

• Understand that how economic theories have developed over time .
• Obtain understanding of the theoretical foundations of classical economics, which can be traced back to individuals such as Adam Smith and David Ricardo.
• Examine Alfred Marshall's contributions and the significance of marginal analysis and utility maximization.
• Get an understanding of how neoclassical theories were altered in response to great depression in the economy.
• Examine the environment in which neoclassical created the theories, highlighting the concepts of marginal utility analysis.

Keynesian Economics and Monetarism

• Understand that how economic theories have developed over time .
• Examine the environment in which Keynes created his theories, highlighting the need of countercyclical policies, aggregate demand, and the opposition to laissez-faire methods.
• Gain a thorough understanding of the Quantity Theory of Money, which posits a direct relationship between the money supply, prices, and economic output.
• Know how changes in the money supply can affect aggregate demand and supply.
• Understand the Monetarist interpretation of the Phillips Curve, which casts doubt on the idea of a steady short-term trade-off between unemployment and inflation.

Microeconomics Theory

• Know about indifference curve which explains that how consumers make decisions based on their preferences for various combinations of products and services.
• Learn about the prerequisites needed for a competitive equilibrium in a broad economic system to exist and be optimal.
• Understand the four types of market structures and their characteristics.
• Learn how game theory is used to examine the strategic interactions and decision making processes among businesses operating in oligopolistic markets.

Macroeconomics Growth Theory

• Know what is meant by macroeconomics
• Understand how economic growth is measured and what is the difference between real and nominal GDP.
• Know how central bank uses monetary policy to achieve the objectives of price stability, full employment and sustained economic growth.
• Learn the evolution of growth theories from classical growth theories to neoclassical growth theories and then New growth theory.

The certificate is designed to enhance the learner's knowledge in the field. This certificate is for everyone eager to know more and get updated on current ideas in their respective field. We recommend this certificate for the following audience.

• Economic Policy Analyst
• Financial Economist
• Economic Strategist
• Policy Advisor
• Economic Researcher
• Market Analyst
• Central Bank Economist
• Economic Development Specialist