About this Module
What you will learn
This module introduces students to the foundational concepts of microeconomics by focusing on the principles of demand and supply. This could be used in a Principles of Economics course. Students will explore how individuals and businesses make decisions in response to changes in prices and other influencing factors. The module covers the meaning of demand, the various factors that affect it, and how demand behaves in the real world. It also includes an introduction to the theory of supply and the key elements that influence producers' decisions. Through interactive lessons, clear visual aids, and short assessments, students will gain practical understanding of how markets operate and why prices change. The module is structured to help students not only understand the basic theories, but also apply them to real-life situations, such as explaining why certain products become more expensive, or how consumer choices shift based on income or trends. Designed to be engaging and accessible, the module includes 4 rich content segments supported by videos, slides, and complete notes. Each subtopic includes short assessments to help reinforce learning and track progress. By the end of the module, students will have developed strong analytical and decision-making skills relevant to both academic study and everyday economic understanding. This module is ideal for learners who wish to build a solid foundation in economics and apply economic thinking to both studies and the real world.
What skills you will gain
The Theory of Demand module helps students build a solid understanding of basic microeconomic concepts, especially how consumers and producers behave in a market. By learning about demand and supply, students begin to think more critically about economic problems and understand how different factors such as price, income, and preferences can affect buying and selling in the market. They will be able to use basic economic models like the law of demand and the law of supply, explain the difference between movements along a curve and shifts of the curve, and apply these ideas to real situations. As they go through the module, students will also improve their skills in reading and creating graphs, such as demand and supply diagrams. They will learn how to use data from tables and graphs to explain what is happening in the market. At the same time, students will practise explaining economic ideas clearly, both in writing and speaking. The module also encourages students to solve problems and make decisions by looking at how different factors, such as taxes or technology, affect supply and demand. Besides learning economic knowledge, students will gain other useful skills that they can use in further studies or in the workplace. These include working in groups, taking part in discussions, using digital tools to support their learning, and combining numbers with simple explanations to support their views. In the end, this module gives students the confidence and skills to understand and respond to real-world economic situations in a clear and structured way.
Total contents and assessments
This module comprises 4 content components, including instructional videos, presentation slides, and comprehensive lecture notes. In addition, it features four short assessments aligned with each subtopic.
Module Details
CLUSTER : Business & Management ( SP ) MODE/DURATION : Flexible LENGTH : 10 days EFFORT : 1 LEVEL : Beginner LANGUAGE : English CERTIFICATE : Yes CPD POINT : 0 PRICE : Free Associated Course (s) : No Course
