Economics is the study of how society allocates its scarce resources to satisfy unlimited wants. It provides understanding about how the economy works and how individuals in the economy make choice to maximize their benefits. This course requires no prior exposure to economics and covers very basic concepts and theories of microeconomics and macroeconomics- the two branches of economics. Real-life examples will be discussed to give students a more practical approach.

This course is a basic course for undergraduate students with no background in economics. The main aim is to introduce students to the foundations of economic thinking while developing theoretical and applied skills that make economics useful for understanding simple economic behaviour.  The topics studied in this course provide a foundation not only for specialised fields of economics, but also for business disciplines, such as finance, management, and marketing.