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Certificate in Economics

Detailed Course Curriculum
The Choices and Tradeoffs module in the Certificate in Economics provides students with a comprehensive understanding of microeconomics and macroeconomics and how they relate to the behavior of markets. The module examines key concepts such as market efficiency and equity, and how rational decision-making is critical to the success of businesses. Students will also learn about production possibilities, trade, and the concept of opportunity cost, all of which play a crucial role in economic decision-making. Overall, this module provides students with a solid foundation in economics and its applications to business and society.
The module on Supply & Demand is one of the most important topics in economics, as it provides a foundation for understanding how markets work and how prices are determined. The module begins by introducing the concepts of supply and demand, explaining how they are affected by changes in price and other market factors. Students will learn about market equilibrium and the role of prices in allocating goods and services. The module also covers important topics such as consumer and producer surplus, elasticity, and market interventions, including taxes and subsidies. By the end of the module, students will have a thorough understanding of how supply and demand interact to determine market outcomes.
The module Elasticity & Economic Efficiency provides a comprehensive understanding of the concept of elasticity of demand and its significance in economic analysis. Students will learn about different types of elasticity and how to calculate price elasticity using the midpoint formula. The module also explores the importance of economic efficiency and its different forms, such as productive and allocative efficiency. By the end of this module, students will have a better understanding of how changes in prices and demand affect market outcomes and the overall efficiency of an economy.
In this module, students will learn about the reasons for government intervention in the market, such as correcting market failures and promoting equity. They will also study different types of interventions, including price ceilings, price floors, and taxes, and how they affect the market outcomes. The module also explores the use of taxes to address negative production externalities, such as pollution, and how they can help achieve efficient outcomes. Furthermore, the Coase Theorem will be introduced, which suggests that private bargaining can lead to efficient outcomes, even in the presence of externalities, as long as property rights are well-defined. The implications of this theorem for government intervention in the market will also be discussed.
The module Firms, Production and Costs provides an understanding of the relationship between a firm’s production and costs. Students will learn about the various costs associated with production, including fixed and variable costs, and how these costs affect a firm’s profitability. They will also learn about the concept of economies of scale and how it relates to the firm’s production level. The module covers cost curves, including marginal cost curves and average cost curves, and how they are used to make production and pricing decisions. Overall, this module provides a foundation for understanding the cost structure of a firm and how it impacts its production decisions and profitability.
The Perfect Competition and Monopoly module focuses on the two extremes of market structures and their characteristics. It discusses the key differences between perfect competition, where many small firms compete with homogeneous products and no market power, and monopoly, where a single firm dominates the market with no close substitutes and has substantial market power. The module also explains the behavior of firms in each market structure, including their pricing and output decisions, and how these decisions affect market outcomes such as consumer surplus, producer surplus, and economic efficiency.
This module covers the concepts of monopolistic competition and oligopoly. Monopolistic competition is a market structure where there are many small firms that sell slightly differentiated products. Oligopoly, on the other hand, is a market structure where there are a few large firms that dominate the market. The module will also cover game theory and the prisoner’s dilemma, which are important concepts in understanding how firms make strategic decisions in an oligopoly.
This module focuses on the key macroeconomic indicators of Gross Domestic Product (GDP), unemployment, and inflation. Students will learn how to measure GDP, examine the various components of expenditure, and understand the difference between nominal and real GDP. They will also study the different types of unemployment and the factors that contribute to them. Finally, students will examine the concept of inflation, including how it is measured, its causes, and its potential impact on the economy.
This module will introduce students to the concepts of aggregate demand and aggregate supply, which are critical to understanding the macroeconomic performance of an economy. Students will learn about the business cycle and its different phases, such as recession, and how they are related to changes in aggregate demand and supply. They will also explore the AD-AS model and its different components, including long-run and short-run aggregate supply and demand, and how they interact to determine equilibrium output and price levels. The module will also cover supply shocks and their effects on the economy and introduce students to the dynamic AD-AS model.
The module on “Money and Monetary Policy” aims to provide students with an understanding of the role and significance of money in the economy, including how it is created, and the importance of central banks in managing monetary policy. It discusses the functions of money, such as serving as a medium of exchange, unit of account, and store of value, and how money is created through the banking system. The module also delves into the Reserve Bank of Australia’s role in setting monetary policy, including tools such as the cash rate, exchange settlement accounts, and inflation targeting. Students will also learn about the relationship between monetary policy and the economy, specifically through the use of the AD-AS model to understand the impact of monetary policy on inflation, output, and employment.
The Fiscal Policy module covers how governments use fiscal policy to stabilize the economy. It starts with an overview of the role of fiscal policy and its impact on the economy, including the use of government spending, taxation, and transfer payments. The module discusses the various types of fiscal policy, such as discretionary fiscal policy and automatic stabilizers. It also covers the different tools used to implement fiscal policy, including government spending, taxation, and debt management. Finally, the module examines the challenges and limitations of fiscal policy, such as time lags and political constraints.
This module focuses on the exchange rate and its impact on international trade. The module begins by providing an overview of international trade, including trade policies and barriers. It then delves into the exchange rate and how it is determined, before examining the impact of exchange rate fluctuations on trade. Finally, the module explores the role of exchange rates in international finance, including currency speculation and the balance of payments.
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Ronnie is an experienced and knowledgeable tutor specializing in Business courses. With a degree in accounting from De La Salle University, Ronnie brings practical examples and real-world insights to his teaching. Currently pursuing an MBA at the University of Queensland, he remains committed to continuous learning and staying up-to-date with the latest industry trends. Ronnie's exceptional communication skills and emphasis on practical application empower students to grasp complex business concepts and apply them in real-world scenarios.

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Michael is an accounting student at the University of South Australia, who knows his numbers inside out. When he's not hitting the books, he's putting his skills to work as a part-time accounting and bookkeeping tutor at the Online Business Academy, helping aspiring professionals level up. During his downtime, you'll find Michael diving into the world of gaming, where he unleashes his competitive spirit. Michael also enjoys bouldering in his spare time.

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Frequently Asked Questions

There are no entry requirements or pre-requisites to enrol into this course. You can enrol online directly by clicking on “Enrol Now” and follow the prompts. Alternatively, you can enrol over the phone with our friendly student advisors. Give them a call on (02) 8006 0556 or email them at support@oba.au.

This course costs $499 + GST. Click here to get started now.

This course takes approximately 120 hours, and you’ll have lifetime access to this course. Study in your own time, at your own pace. Most of The Online Business Academy courses are designed so that you do one module a week. But if life gets busy you can take longer and even apply for a course extension if you need more time.

Upon the completion of this course, you can obtain a job as a Business Manager. In Australia, Business Managers earn approximately $96,781 per year but can be as high as $113,510 per year. (Payscale)

Contact a friendly student advisor on (02) 8006 0556 to find out about potential career outcomes and see where our courses can take you. Employers also constantly approach The Online Business Academy looking for students and employers also advertise jobs in the Career Centre (available once you enrol). You’ll also receive a FREE CV review.

This qualification is Internationally recognised. Our qualifications are highly sought after by employers around the world and accredited by global industry bodies such as ICOES.

Your course will be delivered through our online learning platform. You can access our online learning platform from any web browser 24/7 so you can work whenever and wherever you want. You can also interact with your tutors and other students within the learning environment.

Online learning allows you to make the best use of your time and puts all the resources you need at your fingertips. There are no set course start dates, you can start whenever you are ready. Your tutors and student services will check in on your progress and help you every step of the way

Absolutely! You’ve got an 10-day cooling off period (or trial period) at the start of your course. Take that time to look through all your learning material and get a feel for online learning. If you decide the course isn’t for you within the trial period, you’ll get a full money back guarantee.

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