Economics Practice Exam

About Economics

Economics is the study of scarcity and its impact for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.

Economics as an subject covers supply and demand, perfect and imperfect competition, taxation, international trade, price controls, monetary policy, exchange rates, interest rates, unemployment and inflation amongst many other topics to understand individual markets, the aggregate economy and government policies.

Economics has gained immense popularity across the globe resulting in huge demand for certified professionals.

Why is Certification in Economics important?

Economics enables strategic thinking and decision making for outcome optimization. Economics also helps you better prepare for jobs in banking and the financial sector.

The study of economics helps people understand the world around them. It enables people to understand people, businesses, markets and governments, and therefore better respond to the threats and opportunities that emerge when things change.

Professionals expert in economics are in great demand in finance and strategic policy making departments of companies across the globe.

Economics certified professionals, executives and managers are in high demand in companies across the globe.

Important Economics Concepts 

Various important concepts of Economics includes

• Economics Basics
• Demand and Supply
• Microeconomics
• Macroeconomics
• Financial Markets and the Economy
• Monetary Policy
  

Who should take the Economics Exam?

Certificate in Economics is designed for professionals aspiring to make a career in finance and economics  The certification is suitable for students, finance professionals and managers . Also, the Certificate in Economics can be taken by professionals who are looking forward to better opportunities in finance.

Economics Certificate Exam Objectives

Economics exam focuses on assessing your skills and knowledge in concepts and application of economics.

Economics Certificate Exam Prerequisite

There are no prerequisites for the Economics exam. Candidate should be well versed  in economics to clear the exam.

Economics Course Outline

The Economics Certification exam covers the following topics - 

1. Economics Basics
1.1 Defining Economics
1.2 The Field of Economics

2. Statistics for Economics
2.1 Collection, Organisation and Presentation of Data
2.2 Statistical Tools and Interpretation

3. Demand and Supply
3.1 Demand
3.2 Supply
3.3 Demand, Supply, and Equilibrium

4. Microeconomics
4.1 Consumer’s Equilibrium and Demand
4.2 Producer Behaviour and Supply
4.3 Forms of Market and Price Determination under perfect competition with simple applications

5. Macroeconomics
5.1 National Income and Related Aggregates
5.2 Money and Banking
5.3 Determination of Income and Employment
5.4 Government Budget and the Economy
5.5 Balance of Payments

6. The Nature and Creation of Money
6.1 What Is Money?
6.2 The Banking System and Money Creation

7. Financial Markets and the Economy
7.1 The Bond and Foreign Exchange Markets
7.2 Demand, Supply, and Equilibrium in the Money Market

8. Monetary Policy
8.1 Monetary Policy Basics
8.2 Monetary Policy and the Equation of Exchange

9. Government and Fiscal Policy
9.1 Government and the Economy
9.2 The Use of Fiscal Policy to Stabilize the Economy
9.3 Issues in Fiscal Policy

Exam Format and Information

Exam duration – 60 minutes

Exam type - Multiple Choice Questions

Eligibility / pre-requisite - None

Exam language - English

Exam format - Online

Passing score - 25

Exam Fees  - INR 1199