Economics

This subject provides students with a foundational understanding of key economic and financial concepts that shape national and personal economic decisions. It begins with an exploration of money, its characteristics, and functions in modern economies, followed by an overview of financial institutions, including banks and non-bank institutions, and their roles in financial intermediation. Students then examine inflation, its causes, types, and effects on the economy. The topic of public finance introduces government revenue and expenditure, setting the stage for the study of taxation and its importance in national development. This is followed by an analysis of budgets, including how governments plan and allocate resources.

The course continues with a focus on the broader economy, introducing students to the capital market and its role in mobilizing long-term investment funds. They will also study national income, learning how it is measured and what it reveals about a country’s economic performance. Building on this, students explore the theory of income determination, which explains how national income is influenced by aggregate demand and supply. The course concludes with the theory of the multiplier, which demonstrates how changes in investment can have a multiplied effect on overall income levels. These topics equip students with a deeper understanding of economic systems and financial decision-making.