The impact of economics on all aspects of life has never been more evident. Government economic policies affect both managerial decisions and how households satisfy their desires. As a result, the course encompasses scarcity, the production function, theory of supply and demand, and the economic problem and introductory economic principles.
The course is designed to progressively broaden and deepen the knowledge, skills and professional values demonstrated by the student on their way through qualification. It will also give the students a broad understanding of fundamental economic principles, theories and concepts, and methods of inquiry used by an economist. The course will also enable students to prepare for courses relevant to economic in shipping and logistics.