IFYEC 002 Economics
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IFYEC 002 Economic course is all about human satisfying their wants with the help of limited resources, how are they able to satisfy their desires. This course is a set of tools and methods that helps in analysing various types of problems which are related to goods and service, decision making, resources allocation, production and distribution. Two branches of economics are macroeconomic and microeconomics. Macroeconomic is a broader term then microeconomics; it is concerned with the overall factors such as unemployment, poverty, inflation and overall economic growth. At the same time, microeconomics deals with individual households and firms.
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