Economic Analysis of Social Issues aims at looking at how social
activities impact the economy of a nation or a community. Examples of
social activities include farming, mining, and industrialization. These
activities are beneficial to a society as they create job opportunities
for the natives and this creates a source of income for various
households. On the other hand, the activities can have adverse effects
to the society such as pollution which can cause health complications
and depletion of natural resources which will lead to the loss of
employment as there will be no more resources to mine or sell. The
course primarily seeks to understand the social problems and their
impact on the economy of the society or the nation. An analysis is meant
to determine whether something is working effectively or whether it is
adding value which can be and not limited to monetary value to an
individual or a company. In addition to the aim of the course stated
above, Economic Analysis of Social Issues also tends to understand
whether the measures put in place to curb the social issues are
effective or beneficial to the society. If not, other solutions or
recommendations are given to help better the situation or the condition.
- Understand what a social issue is, the consequences of a social issue to the economy of a community
- Understand an analytic approach to economics and lastly the course aims at identifying the set measures to curb the social issue and to promote the overall economy.
- Understanding human behavior and how their actions, whether positive or negative, impact the population and how the economy of the community with benefit or suffer.