Economics is a study of how individual and economics make decisions about the use and allocation of their scarce resources. In this module, it focused on microeconomics and macroeconomics. Microeconomics is a study of how individual households and business function or behave in a market whereas macroeconomics is to study the working of an economy as a whole. The topics that covered in microeconomics will be demand, supply and market competition. In contrast, unemployment, inflation and gross domestic product are under in macroeconomics.

 

This is the first time for me to take this subject, Principle of Economics where taught by Ms. Tay. Ms. Tay is a good lecturer where she explained well and clearly during the lecture and tutorial classes as she always able to guide every single students that have questions on the relevant topics.

 

Through this subject, I learned and gained the knowledge about the principle and theories in economics. It helps me to understand more about economics in reality in the assignment. Through the interview, I know that everything is working together to form a cycle as known as economics.