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* Course language determined by audience's



Mastering Key Economic 

Concepts & Principles

Register Online or Download Course Registration Form:

​​​Length:           6 classes

Effort:             1-2 hours per week

Level:              Beginner

Language:     English, Dutch or

                          Papiamento *

Exam:             Assignments/Exam

​Credits:          1.5 EC's

Fee:                 AFl.   495.=

Course Outline

The course introduces participants to the study of economics, emphasizing both principles of microeconomics and macroeconomics. Participants will be exposed to the economic way of thinking and learn about the functioning of a modern market economy. The early part of the course focuses on microeconomics which offers methods and tools to analyze the behavior of consumers and firms. The later part of the course moves on to macroeconomic concepts such as public goods and the role of government.

Course Objectives

By the end of the course, participants will be able to:

  • Define economics and the economic way of thinking using the main ideas and ruling principles such as wants, needs, limited resources and scarcity
  • Address the basic economic questions (what will be produced, how will it be produced, and for whom it will be produced)
  • Describe how markets work, and explain what causes demand, supply, and price to behave as they do
  • Compare different market structures in which firms/businesses/producers compete
  • ​Explain the difference between public and private goods
  • Describe the principle goals of governments which include: providing public goods/service, insuring competition, dealing with externalities and promoting economic stability, security, and growth
  • Explain how fiscal policy (taxing and spending) is designed and applied to reach policy goals of government

Target Audience

Managers, supervisors and staff from any function, entrepreneurs and anyone interested in learning more about domestic and international economic aspects.

Key Topics

The key topics covered in the course are:

  • Scarcity, choice and opportunity cost
  • Fundamental economic questions: what, how and for whom?
  • Fields of economics: microeconomics and macroeconomics
  • Economic rationality and steps in decision-making
  • Economic models and assumptions
  • The economist as policy adviser
  • Factors of production
  • The production possibilities curve
  • The law of demand and supply
  • The price elasticity of demand
  • Market structures and forms of business organizations
  • Public versus private goods
  • The role of government in a market economy
  • Fiscal policy and public finance


Participants should attend at least 5 out of the 6 classes.

Participants need to complete two assignments successfully.

At the end of the course, participants need to complete a final written exam.

A Certificate of Completion is awarded if the course is successfully fulfilled. Participants also receive an official transcript for their grades and course credits.

Course Fee in Aruban Florins

Per participant: AFl. 495.=, including turnover taxes.

Includes: course material (electronic), handouts, snacks, coffee and refreshments.

Location and Dates

Location: EC&T Office & Training Facility (Newtonstraat 1-A)

Next class dates: Saturday January 11, 2020

Number of classes: 6
Time: 10:00 AM - 12:30 PM

We reserve the right to alter dates, content, venue and trainer.

Discount Plans and Cancellation Policies

We offer discount plans for group bookings and in-house course and workshop facilitation. Click here for details about our discount plans and cancellation policies.