Basics of Economics A Complete Study

Learn basics of economics useful for real life application

Take this Course for $10
Welcome to course on "Basics of Economics A Complete Study"
Finance, Accountancy and Economics are three different business subjects but with inter dependence, similarities and of course distinct differences.
If one has to excel in any of the above one domain (Finance / Accountancy / Economics) he should have strong understanding of main domain and basic understanding of other two domains.
Hence, this course will provide basic knowledge on Economics for Finance and Accounting Professionals.
So, what is Economics is all about?
Its about making choices.
Its not just about money.
It is about weighing different choices or alternatives.
So, there are variety of modern definitions for economics. Some of the differences may reflect evolving views of the subject or different views among economists
By studying Economics, you will understand two fundamental facts;
a) Human beings have unlimited wants; and
b) The means of satisfying these wants are relatively scarce
and the above form the subject matter.
By taking this course, you will learn
i) What is Economics
ii) Definition and Scope of Economics
iii) Nature of Economics
iv) Methods of Study of Economics
v) Economic Problems
vi) Theory of Demand
vii) Law of Demand
viii) Expansion and Contraction of Demand
ix) Demand Curve
x) Elasticity of Demand
Based on students engagement level, further courses will be added on the topics like
Theory of Production and Cost, Price Determination in Different Markets, etc.
This course is structured in self paced learning style.
You will experience virtual class room with black / green board writing and lectures with supporting lectures.
Take this course to understand the basics of Economics.

Course Curriculum

Wealth and Welfare Definition of Economics
Economics Scarcity Definition
Economics Growth Definition
Micro Economics
Macro Economics
Methods of Economic Analysis
Economic Laws
Human Wants
Charecteristics of Wants Part I
Charecteristics of Want Part II
Classification of Wants
Significance of Classification of Want
Utility - Total Utility and Marginal Utility
Law of Diminishing Marginal Utility
Importance of Law of DMU
Criticism of Law of DMU
Law of Equi Marginal Utility
Limitations of Law of EMU
Exceptions to law of Demand
Extension and Contraction of Demand
Shifts in Demand (Increase / Decrease in Demand)
Factors determining Demand
Introduction to Elasticity of Demand
Price Elasticity of Demand
Economic Theory and Business Practices
Decision Making in Business
Fundamental concepts in Decison Making followed by Incremental Concept
Incremental and Marginal Concepts
Classification of Markets
Types of Market Structure
Total Revenure, Average Revenue and Marginal Revenue
Determination of Prices in Open Market
Increase in Demand and new Equilibrium Point
Decrease in Demand and new Equilibrium Point
Features of Perfect Market
Price determination in perfect market
Why Total Revenue Curve of a price taking firm is an Upward Sloping Straight Lin
What is the relation between Market Price, AR and MR of Price taking firm?
What is Market Equilibrium?
When do we say there is excess demand for commodity?
When do we say there is excess SUPPLY for commodity?
What will happen if Market Price greater or less than Equilibrium Price?
How price is determined in a perfectly competitive market?
How equilibrium price and quanity affected due to change in Income?
How increase in price of shoe affect sales of socks?
How change in price of coffee affects sales of tea?
How change in price of inputs affect equilibrium?
Effect of Rightward shift in Demand and Supply Curve on Equilibrium Price and Qu
Untitled Lesson
Prefect Competion Pure Competition
why firms in Perfect Competion are Price taker?
Effect on equilibrium Price
what is Monopoly
Feratures of Monopoly
Different ways of Creating monopoly
Monopolistic Competition & its Features
Budget Set and Budget line
How to draw Budget line
Price Elasticity of Demand
Impact on Demand for Change in Price
Determinants of Price Elasticity of Demand
Different type of Price Elasticity of Demand
Total Expenditure Method
Geometric or Point Method
Percentage or Proportionate Method

CA N Raja Natarajan


I am a Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.