Economics

Behavioral economics combines psychology and economics to study why people make irrational financial decisions. Learners will understand cognitive biases, heuristics, and choice architecture, and how these factors influence consumer behavior and policy design.

Behavioral finance examines how psychological biases and cognitive errors influence investors and financial markets. Learners will understand why market anomalies occur and how to identify emotional factors that affect investment decision-making.

Development economics focuses on improving the fiscal, economic, and social conditions in low-income countries. Learners will understand the structural barriers to growth, the effectiveness of foreign aid, and strategies for poverty reduction and sustainable development.

Econometrics applies statistical and mathematical methods to analyze economic data and test hypotheses. Learners will understand how to build regression models, estimate causal relationships, and use empirical data to forecast economic trends.

Economic history examines how historical events, institutions, and ideas have shaped modern economies. Learners will understand the origins of industrialization, financial crises, and global trade systems, providing context for contemporary economic challenges.

Environmental economics studies the financial impact of environmental policies and resource allocation. Learners will understand how to analyze externalities, value natural resources, and evaluate market-based solutions like carbon pricing and pollution regulations.

Fiscal policy examines how governments use taxation and spending to influence economic activity. Learners will analyze the impact of budget deficits, tax reforms, and government spending on inflation, employment, and overall national economic growth.

Game theory is the mathematical study of strategic decision-making among rational agents. Learners will understand how to model competitive situations, predict opponent behavior, and identify optimal strategies in economics, business, and social sciences.

Heterodox economics explores alternative economic theories outside the mainstream neoclassical paradigm, such as Marxist, institutional, and feminist economics. Learners will understand different analytical frameworks for addressing wealth distribution, power dynamics, and systemic instability.

This topic examines the causes, measurements, and consequences of economic disparity and poverty. Learners will understand how income distribution is measured, the systemic factors driving inequality, and the policy interventions used to alleviate poverty globally.

International economics analyzes trade, capital flows, and financial interactions between nations. Learners will understand the mechanics of tariffs, exchange rates, trade agreements, and the balance of payments in a globalized economy.

This introductory subject covers the core principles of both microeconomics and macroeconomics. Learners will understand fundamental concepts like scarcity, opportunity cost, market mechanisms, and national economic performance, establishing a foundation for advanced study.

Labor economics studies the dynamics of the workforce, focusing on wages, employment, and labor market regulations. Learners will understand how wages are determined, the impact of unions and minimum wage laws, and the causes of unemployment.

Macroeconomics studies the behavior and performance of an economy as a whole. Learners will understand aggregate variables such as gross domestic product, inflation, unemployment, and national income, alongside the policies used to stabilize economic cycles.

Market structures define how industries are organized based on competition and pricing power. Learners will analyze different market types, including perfect competition, monopolies, and oligopolies, to understand how firms set prices and output levels.

Microeconomics analyzes the decision-making behavior of individual consumers, households, and firms. Learners will understand how resource allocation occurs, how prices are set in specific markets, and how policy interventions affect individual economic choices.

Monetary policy focuses on how central banks manage money supply and interest rates to stabilize the economy. Learners will understand the mechanisms behind interest rate changes, quantitative easing, and inflation targeting, and their effects on financial markets.

How the oil and gas market actually clears: benchmarks and price reporting, the futures curve, physical cargoes and Incoterms, the trading houses and the bank debt behind them, OPEC and the chokepoints, freight and war-risk cover, and the demand forecasts everyone argues over. Learners will be able to read a price move and say which clock it is running on — the physical barrel or the financial contract.

Public economics examines the role of government in the economy, focusing on taxation, public spending, and market failures. Learners will understand how public policies affect economic efficiency, wealth redistribution, and the provision of public goods.

Supply and demand is the foundational economic model explaining how prices and quantities of goods are determined in a market. Learners will understand how market equilibrium is reached and how external factors shift supply and demand curves.