This subject is an introduction to economics and provides students with economic literacy skills that are required by professionals in the business world. Students are first introduced to the methods and subject matter of economics. Principles of microeconomics are then covered which involve investigating how markets solve the economic problem by efficiently allocating scarce resources among competing uses. Lastly, the principles of macroeconomics are covered which involve how governments stabilise the economy using fiscal and monetary policy. Students develop an understanding of the key economic principles by using them to solve real-world economic problems.