Suggestions on courses

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Suggestions on courses
What Tiffin University can add courses to alleviate these shocks to future students entering your field?
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What Tiffin University can add courses to alleviate these shocks to future students entering your field?

To understand most relevant and significant issues, such as employment, inflation, resources and industrialization, it is imperative to understand basic concepts of economics. Beyond these topics or subjects, to understand social and political realities, principles of economics must be comprehended and economic, social and political realities amalgamate with one another at certain point.

Economics is subject, which through simple or comprehensible theories and models, regarding resources, demand, supply, inflation, economic cycles, production, and consumption and production patterns. Because of its vastness, as a subject, it is divided in various sub-subjects or branches, which discuss different economic matters, by using different tools and instruments.

Two main broad categories, of subject economics, are Macro and Microeconomics. Macro Economics discuss subjects state level or in other words, macroeconomic discuss such subjects and issues, which are strategic in nature, rather than tactical. For instance, industry is a subject of macroeconomics.  Microeconomics, on the other hand, discusses tactical matters, such as organization, its role and structure.

In most of the universities, microeconomics, macroeconomics and international economics are taught. This is because of these are subjects, which are imperative to understand economic principles and models. However, there are other economic subjects too, which are of high significance, but ignored by universities. These subjects include Political-Economy and Economic Development.

Political Economy is relevant because contemporary economic systems are based on Keynesian economic models, which are political-economic in nature. In classical models, there was no role of governments; however, this notion and structure, of economics, changed dramatically after The Great Depression(Digital History, 2015)(United Nations, 2015).

New Instrument, Fiscal instrument, was introduced to realize political-economic objectives. In addition, this new economic model also helped capitalist economies to get out deflationary trend.

Economic development, which was nonexistent in classical models, is also an important subject. This is because many economies now deliberately plan and participate in economic development projects. The rationale behind this is that private sector alone does not have the capacity to develop simultaneously whole region. Only through public-private cooperation, economic goals can be realized.

Because of these reasons, there is a need to add more subjects to the course of economics. These subjects include Political Economics and Economic Development.

Subjects or courses of finance are comprised of Risk management and Insurance. During the course, we have discussed and learned about how risks could be mitigated and what provoke or encourages firms to take risks. However, I believe it is also necessary for student to learn about emergence of post-modern corporate system; its dynamics, and how this system is related to economics. Therefore, subjects or courses, which elaborate on these topics, should be made part of course (United Nations, 2015).

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