StudyPath

ECO 111 Principles Of Economics I

NCE1 levelSocial Sciences4 topics

ECO 111 covers 4 topics. StudyPath paces them into daily study sessions that finish before your exam date, with practice questions and worked answers for each one.

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Course outline

The topics this course covers, in teaching order.

  1. The nature, scope and methodology of Economics (Tools of Economic analysis).
  2. The basic economic problems and concepts (scarcity, scale of preference, choice,
  3. Introduction to production, types of production (primary, secondary and tertiary).
  4. Factors of production - land, labour, capital entrepreneurship; mobility of factors of

A sample from this course

One topic, as StudyPath teaches it.

The nature, scope and methodology of Economics (Tools of Economic analysis).

This topic introduces what economics studies, the range of issues it covers, and the main methods economists use to analyse human choices under scarcity. For the exam, you must master the meaning of economics, its branches, and the basic analytical tools such as assumptions, models, ceteris paribus reasoning, deductive and inductive methods, and the distinction between positive and normative analysis.

What you get for ECO 111