Class notes ECO3101 Time Series Models for Business and Economic Forecasting

Comprehensive Course on Economics and Business


This course provides an in-depth understanding of Economics and Business concepts, covering
Microeconomics, Macroeconomics, Business Strategy, Finance, and Marketing. It includes
real-world case studies,
exercises, and graphs to enhance learning.


Table of Contents
1. Microeconomics: Demand, Supply, and Market Equilibrium
2. Macroeconomics: GDP, Inflation, and Economic Policies
3. Business Strategy: Competitive Advantage and Market Forces
4. Finance: Investment, Risk, and Corporate Finance
5. Marketing: Consumer Behavior and Market Segmentation
6. Case Studies and Real-World Applications
7. Exercises and Review Questions


Microeconomics: Demand, Supply, and Market Equilibrium
Microeconomics focuses on individual markets and consumer behavior.
The law of demand states that as prices fall, quantity demanded rises, while the law of supply
indicates that higher prices
encourage producers to supply more goods. Market equilibrium is achieved where supply equals
demand.


Macroeconomics: GDP, Inflation, and Economic Policies
Macroeconomics deals with large-scale economic factors.
Gross Domestic Product (GDP) measures economic output, while inflation represents rising price
levels.
Governments use fiscal and monetary policies to influence economic stability.


Business Strategy: Competitive Advantage and Market Forces
Successful businesses develop strategies to gain competitive advantages.
Porter's Five Forces analyze market competitiveness, while SWOT analysis helps businesses
assess their strengths and weaknesses.