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Final Exam - NUR2063 / NUR2063 (Latest MAY 2023) : Essentials of Pathophysiology - Rasmussen

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This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to apply the fundamental principles of economics in decision making 4.0 LEARNING OUTCOMES A candidate who passes this paper should be able to: • Apply basic mathematical and graphical techniques to analyse economic relationships and interpret the results • Apply the knowledge of economics in decision making • Analyse economic problems and suggest possible policy related recommendations • Apply knowledge of economics in international trade and finance • Apply economic principles in the development and implementation of policies in agriculture and industry Demonstrate an understanding of emerging economic issues. CONTENT 4.1 Microeconomics 4.1.1 Introduction to economics - Definition of economics - Micro and macro economics - The methodology of economics and its basic concepts - Economic descriptions and analysis - Scarcity, choice, opportunity cost and production possibility frontiers and curves - Economic systems: free economy, planned economy and mixed economy - Specialisation and exchange 4.1.2 Demand, supply and determination of equilibrium 4.1.2.1 Demand analysis - Definition - Individual demand versus market demand - Factors influencing demand - Exceptional demand curves - Types of demand - Movement along and shifts of demand curves - Elasticity of demand


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Economics -lecture notes
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