Reflective Journal
This module is designed for the students to develop their understanding of basic economics concept and give them insight into social and political issues which will be valuable in whatever future career path they take.
My favourite topic in this module is topic 7 which is related the competition between the market and it can divided into 4 types of business that are Monopoly, Oligopoly, Monopolistic competition and perfect competition. In this topic, it also talks about the barrier of a new company to enter the market. It becomes my favourite topic as I prefer the way that monopoly runs their business. They have a high pricing power, protected by strong barriers to entry and more. They can control the market easily in the world.
Topic 6 is the most useful in our daily life. This topic is about the law of diminishing returns and short run costs. This is because my parents owe a shop in hometown. By using those concepts, I can find out the problems of shop and plan strategies to make business becomes better than before.
This module teaches a lot of basic concepts of economic. Thus, we can have some basic knowledge about economic. These concepts provide many help for us in the future or even we start our own business. We can manage and run the business easily.
Economics presentation slide: Electric Vehicle
Tutorial question
No comments:
Post a Comment