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Certificate in Economics




Human Resources Management Specialist

Program Overview

Economics Certificate

In this course you will receive a comprehensive introduction to the field of economics, which involves the creation and consumption of goods and services, and learn how money is used by individual consumers, businesses, and governments. The course is ideal for intelligent people who want to be well-informed, whether in social settings or in business.

What to Expect:

The Economics Certificate Course is an online learning program with recommended readings from the textbook (Principles Of Economics 2e). This course is self-directed, which means you may study and complete assignments at times that are most convenient for you from the comfort of your own home.

This part-time Economics Certificate Course has a recommended completion date of 8 weeks from the start of the program, however, you may choose to complete the course in as little as 4 weeks or as long as 16 weeks, depending on your schedule.

The Economics Certificate Course has been created to allow you to complete it without teaching assistance. However, if you have questions or need assistance, you can receive help from a Faculty Member throughout the 8 weeks of the course. Your Faculty Member is a valuable resource person who can provide you with personal teaching assistance to help you succeed in the course.

Course Topics

This Course meets high academic standards. It certifies that after graduation, you can display with pride the Economics Certificate you will earn from the USILD.

Welcome to Economics!

  • What Is Economics, and Why Is It Important?

  • Microeconomics and Macroeconomics

  • How Economists Use Theories and Models To Understand Economic Issues

  • How To Organize Economies: An Overview of Economic Systems

Choice in a Word of Scarcity

  • How Individuals Make Choices Based on Their Budget Constraint

  • The “Production Possibilities Frontier” and Social Choices

  • Confronting Objections to the Economic Approach

Consumer Choices

  • Consumption Choices

  • How Changes in Income and Prices Affect Consumption Choices

  • Behavioral Economics: An Alternative Framework for Consumer Choice

Demand and Supply

  • Demand, Supply, and Equilibrium in Markets for Goods and Services

  • Shifts in Demand and Supply for Goods and Services

  • Changes in Equilibrium Price and Quantity: The Four-Step Process

  • Price Ceilings and Price Floors

  • Demand, Supply, and Efficiency


  • Price Elasticity of Demand and Price Elasticity of Supply

  • Elasticity and Pricing

  • Elasticity in Areas Other Than Price

Production, Costs, and Industry Structure

  • Explicit and Implicit Costs, and Accounting and Economic Profit

  • Production in the Short Run

  • Costs in the Short Run

  • Production in the Long Run

Perfect Competition

  • Perfect Competition and Why it Matters

  • How Perfectly Competitive Firms Make Output Decisions

  • Entry and Exit Decisions in the Long Run

Labor Markets and Income

  • The Theory of Labor Markets

  • Wages and Employment in an Imperfectly Competitive Labor Market

  • Market Power on the Supply Side of Labor Markets: Unions

  • Bilateral Monopoly

  • Employment Discrimination

  • Immigration

Poverty and Economic Inequality

  • Drawing the Poverty Line

  • The Poverty Trap

  • The Safety Net

  • Income Inequality: Measurement and Causes

  • Government Policies To Reduce Income Inequality

The Macroeconomic Perspective

  • Measuring the Size of the Economy: Gross Domestic Product

  • Adjusting Nominal Values to Real Values

  • Tracking Real GDP Over Time

  • Comparing GDP among Countries

  • How Well GDP Measures the Well-Being of Society

Economic Growth

  • The Relatively Recent Arrival of Economic Growth

  • Labor Productivity and Economic Growth

  • Components of Economic Growth


  • How Economists Define and Compute Unemployment Rate

  • Patterns of Unemployment

  • What Causes Changes in Unemployment Over the Short Run

  • What Causes Changes in Unemployment Over the Long Run


  • Tracking Inflation

  • How to Measure Changes in the Cost of Living

  • How the U.S. and Other Countries Experience Inflation

  • The Confusion Over Inflation

  • Indexing and its Limitations

Macroeconomic Policy Around the World

  • The Diversity of Countries and Economies Across the World

  • Improving Countries’ Standards of Living

  • Causes of Unemployment Around the World

  • Causes of Inflation in Various Countries and Regions

  • Balance of Trade Concerns

International Trade

  • Absolute and Comparative Advantage

  • What Happens When a Country Has an Absolute Advantage in All Goods

  • Intra-industry Trade between Similar Economies

  • The Benefits of Reducing Barriers to International Trade

The Aggregate Demand/Aggregate Supply Model

  • Macroeconomic Perspectives on Demand and Supply

  • Building a Model of Aggregate Demand and Aggregate Supply

  • Shifts in Aggregate Supply

  • Shifts in Aggregate Demand

  • How the AD/AS Model Incorporates Growth, Unemployment, and Inflation

  • Keynes’ Law and Say’s Law in the AD/AS Model

The Keynesian Perspective

  • Aggregate Demand In Keynesian Analysis

  • The Building Blocks of Keynesian Analysis

  • The Phillips Curve

  • The Keynesian Perspective on Market Forces

The Neoclassical Perspective

  • The Building Blocks of Neoclassical Analysis

  • The Policy Implications of the Neoclassical Perspective

  • Balancing Keynesian and Neoclassical Models

Public Economy

  • Voter Participation and Costs of Elections

  • Special Interest Politics

  • Flaws in the Democratic System of Government

Introduction to Money and Banking

  • Defining Money by Its Functions

  • Measuring Money: Currency, M1, and M2

  • The Role of Banks

  • How Banks Create Money


  • How Monopolies Form: Barriers to Entry

  • How a Profit-Maximizing Monopoly Chooses Output and Price

Monopolistic Competition and Oligopoly

  • Monopolistic Competition

  • Oligopoly

Monopoly and Antitrust Policy

  • Corporate Mergers

  • Regulating Anticompetitive Behavior

  • Regulating Natural Monopolies

Financial Markets

  • How Businesses Raise Financial Capital

  • How Households Supply Financial Capital

Program Director

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