em575 | Graduate
This graduate-level course is 6 weeks This course is available as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.
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Macroeconomic Measurement & Basic Concepts
- Analyze the macroeconomic concepts of unemployment and inflation and their linkages to energy consumption.
Explain the concepts and measurement of Gross Domestic Product (GDP).
- Relate the trends and cycles of GDP growth to business cyles, energy prices, and policies.
Fiscal and Monetary Policy
- Define the concept of money.
- Evaluate the central bank's money policy in stabilizing domestic and foreign economies.
- Assess the impact of macroeconomic policies, including trade, capital, and exchange rate policies, on domestic and global industries such as energy.
Cost Concepts and Profit Maximization
- Analyze different costs of production in a firm.
- Explain profit maximization principles in a competitive market.
- Apply incremental resource cost and contribution analysis to make a business decision.
The Basic Concepts for Economic Reasoning
- Distinquish between renewable and non-renewable energy resources.
- Explain how the laws of supply and demand determine equilibrium price, elasticity, and energy exploration, and production in global markets.
- Explain basic concepts of economics.
Domestic and Global Energy Markets
Analyze the competitive environment in an energy market.
- Identify barriers to economic growth as a result of non-renewable resources.
- Explain the impact of technology on a country's energy resource balance.
Market Structure & Strategic Choice
- Differentiate among the four major market structures in regards to pricing and non-pricing strategies.
- Identify the market structures in various energy markets and the implications for customers, businesses, and governments.
- Analyze the effectiveness of regulations in the energy sector.
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