| 1 | To be able to define economics and its basic concepts |
| 2 | Explain the scientific method that economists use to develop their theories |
| 3 | To be able to define the fundamental questions and economic systems that all societies have to find answers to. |
| 4 | To gain knowledge and skills that can explain the formation of market equilibrium with demand and supply functions. |
| 5 | Gain skills to explain supply and demand elasticities and use calculation methods |
| 6 | To be able to describe how the consumer behaves in the market with the help of the concepts of total, marginal utility andnd price. |
| 7 | To have knowledge and skills that can explain short-term company behavior and long-term decision-making process. |
| 8 | To have knowledge to explain the profit and cost terms, product and cost curves of businesses. |
| 9 | To have knowledge that can explain perfect competition markets and imperfect competition markets. |