5.00
(1 Rating)

Secrets of Economic Policy Making

Wishlist Share
Share Course
Page Link
Share On Social Media

About Course

The Secret of Economic Policy Making online course is an interactive and comprehensive introduction to the fundamentals of economic policy making. It is designed to help those interested in understanding the intricacies of economic policymaking by providing tools, resources, and strategies for designing and implementing effective economic policies. The course covers topics ranging from the basic economic principles of supply and demand to more complex topics such as fiscal policy, monetary policy, and international trade. It also provides a detailed overview of the role of government in the economy and how to craft effective policies to achieve economic objectives. The course is designed to be accessible to anyone with an interest in economic policymaking, regardless of prior knowledge. It is structured in a way that allows students to explore the topics in depth, while also providing information in an engaging and easily digestible format. This includes activities, videos, and quizzes to help reinforce key concepts. The course is divided into three sections, each of which covers a particular area of economic policy making. The first section provides an overview of the economic principles and how they are used to craft effective policies. The second section focuses on fiscal policy and how to use it to achieve various economic goals. The final section explores monetary policy and its effects on the economy. The course is designed to be completed in a few weeks, allowing students to gain a comprehensive understanding of economic policymaking in a relatively short amount of time. Upon completion of the course, students should have a better understanding of the various economic policies and tools available for policymakers. As well, they should be better equipped to craft effective and sustainable economic policies that will benefit their communities and economies.

Show More

Course Content

WEEK 1
Course Summary: The Relationship between GDP and the Circular Flow Diagram This subtopic explored the fundamental relationship between Gross Domestic Product (GDP) and the Circular Flow Diagram. The Circular Flow Diagram is a simplified representation of money, goods, and services flow between households and businesses in an economy. Understanding the connection between GDP and the Circular Flow Diagram helps us grasp the key factors influencing a nation's economic activity and overall prosperity. Throughout the course, we covered various aspects of this relationship. We defined GDP as the total value of all final goods and services produced within an economy over a specific period. We learned that GDP is a crucial measure of economic output and provides insights into a country's economic performance. Next, we delved into the Circular Flow Diagram, which illustrates the interactions between households and businesses. We examined how households supply factors of production, such as labour, land, and capital, to businesses. In return, households receive income from businesses through wages, salaries, rent, interest, and dividends. Moreover, we explored the flow of goods and services from businesses to households in the product market. We discovered that households' consumption expenditures contribute to GDP, representing the demand side of the economy. Simultaneously, businesses engage in investment activities, which also influence GDP. We recognized that investment refers to spending on capital goods, such as machinery and infrastructure, which enhance future production capacity. Furthermore, we examined leakages and injections within the Circular Flow Diagram. Leakages, such as savings and taxes, remove money from the circular flow and potentially impact GDP. In contrast, injections, such as government spending and exports, introduce money into the economy, potentially boosting GDP. Lastly, we analyzed the significance of the government's role in the Circular Flow Diagram. We discussed how government spending and taxation policies affect the flow of income and expenditure in the economy, subsequently influencing GDP. Additionally, we examined how government interventions, such as fiscal and monetary policies, can stimulate or stabilize economic activity. By the end of this course, students gained a comprehensive understanding of the interplay between GDP and the Circular Flow Diagram. They developed the ability to analyze the factors contributing to GDP, comprehend the importance of leakages and injections, and appreciate the government's role in shaping economic outcomes. Armed with this knowledge, students are better equipped to comprehend and evaluate the dynamics of macroeconomic activity and its impact on the overall health of an economy.

  • GDP AND CIRCULAR FLOW DIAGRAM
    16:45
  • 1.1 POTENTIAL GDP GROWTH
    16:36
  • 1.2 GDP OUTPUT GAP
    10:19
  • WHAT DRIVES THE BUSINESS CIRCLE
    08:03
  • SHIFTS IN AGGREGATE DEMAND AND SUPPLY
    13:23
  • Factors that lead Aggregate Demand to drive the Business Circle
    10:41
  • WEEK 1 REVIEW WITH Q&A
    12:15
  • WEEK 1 QUIZ

WEEK 2

Student Ratings & Reviews

5.0
Total 1 Rating
5
1 Rating
4
0 Rating
3
0 Rating
2
0 Rating
1
0 Rating
Dr. Abubakar
1 year ago
Great Course

Want to receive push notifications for all major on-site activities?

✕
WP Radio
WP Radio
OFFLINE LIVE