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Course Overview

The subject covers the fundamental principles of economics for understanding the business environment. It will focus on the various aspects of the product market: demand and supply, consumer theory, production and cost, market competition, market power, product differentiation, firms’ strategic behaviour and the macroeconomic environment.





The subject aims to equip students with knowledge and skills to:

  • Use the concepts of demand and supply to explain and analyse observed changes in product markets.
  • Examine how the characteristics of different product markets affect firms’ pricing and profitability.
  • Examine how the Gross Domestic Product (GDP) of a country changes over time.
  • Discuss the various macroeconomic issues faced by countries and the policy tools governments can use to achieve their objectives.

Entry Requirements

Applicants applying for modular units which are drawn from existing full diploma or post-diploma programmes will have the same minimum entry requirements as the full qualifications.


To find out the minimum entry requirements specific to this modular course, please click here.

What You'll Learn

  • Basic economic problem of scarcity, choice and opportunity cost
  • Demand and supply analysis 
  • Applications of demand and supply analysis 
  • Elasticity of Demand
  • Output and Cost
  • Perfect Competition and Monopoly
  • Monopolistic Competition and Oligopoly
  • The Macroeconomic Environment
  • The Macroeconomic Problems of Unemployment and Inflation
  • Macroeconomic Policies



Modes of Assessment


  • Continual Assessment 100%





Upon successful completion of the modular unit, students will be awarded a Statement of Result which can count towards the attainment of:
Diploma in Business Practice (Business Administration).

For more information on course fee / schedule, or to apply,

Course Contact

  • Mainline 67881212
  • Monday - Thursday: 8:30am - 6:00pm
    Friday: 8:30am - 5:30pm
    Closed during lunchtime, 12:00pm - 1:00pm
    and on weekends and public holidays.

  • https://www.tp.edu.sg/tsa
  • Temasek SkillsFuture Academy (TSA)
    Temasek Polytechnic
    East Wing, Block 1A, Level 3, Unit 109
    21 Tampines Ave 1
    Singapore 529757

  • Temasek Polytechnic reserves the right to alter the course, modify the scale of fee, amend any other information or cancel course with low enrolment.