Fundamentals of Economics
Build your economic intuition and learn how markets, costs, and incentives shape business decisions, guided by Ivey faculty Romel Mostafa in a flexible, self-paced format.
Price
$690.00 CAD $640.00 CAD
Start anytime
10 hours 
Online Self-Paced Start anytime
Self-Paced
10 hours
$690.00 CAD
$640.00 CAD
Economic intuition is a powerful tool for smarter decision-making. In this self-paced course, Ivey faculty Romel Mostafa guides you through the core principles of microeconomics, exploring how costs, markets, incentives, and failures shape business outcomes.
Designed for professionals from all backgrounds, the course blends foundational theory with real-world application. Through interactive modules, self-assessments, and summary sessions, you’ll learn how to evaluate business environments, pricing strategies, and competitive dynamics using economic thinking.
You’ll leave with a practical toolkit, a digital certificate, and the confidence to apply economic reasoning in your role, whether you're launching a product, managing operations, or advising on policy.
Learning Outcomes
By the end of this course, you will be able to:
- Distinguish between economic and accounting costs, and apply concepts like opportunity cost, sunk cost, and marginal cost.
- Analyze firm behaviour in competitive markets and understand how new entrants affect market dynamics.
- Use demand and supply models to evaluate market equilibrium, elasticity, and price shifts.
- Identify market failures such as monopolies and information asymmetry, and assess the role of regulation.
- Apply economic reasoning to business decisions, policy discussions, and strategic planning.
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This self-paced course includes approximately 10 hours of content, designed to be completed within a 90-day window. You’ll progress through interactive modules, complete knowledge checks, and receive instant feedback through our AI-first LMS.
Module 1: The Cost Lens
Explore the building blocks of economic decision-making—economic vs. accounting costs, opportunity and sunk costs, fixed and variable costs, marginal and average costs, and the accounting equation.
Module 2: How Markets Move
Understand how competitive markets function, how firms behave within them, and how new entrants impact market structure and pricing.
Module 3: Demand, Supply and Price Signals
Dive into the demand curve, market equilibrium, elasticity, and the dynamics that shift prices and quantities in real-world markets.
Module 4: When Market Failures
Learn about consumer and producer surplus, efficiency, monopoly power, and information asymmetry—and how regulation can address these failures.
Module 5: Wrap-Up and Application
Review and reinforce key concepts through curated summaries and self-assessments designed to consolidate your learning.
Dates & Fees
Start anytime
Duration: ~10 hours (self-paced)
Access: 90 days from enrollment
Tuition: $500 CAD
Certificate: Digital credential upon completion
No prerequisites required. Enroll anytime and learn at your own pace.
This course is designed for professionals who want to strengthen their microeconomic intuition and apply it to real-world business decisions. No prior microeconomics experience is required.
Ideal participants include:
- Managers and analysts seeking to understand market dynamics.
- Entrepreneurs and product leaders evaluating pricing and competition.
- Professionals preparing for an MBA or executive program.
- Learners looking to sharpen their strategic and policy thinking.
Romel Mostafa
Assistant Professor, Business, Economics and Public Policy
Romel Mostafa is an Assistant Professor at Ivey Business School where he specializes in Business, Economics, and Public Policy. His research interests are in the areas of strategy and capability development in new firms, innovation, competitive dynamics, and industrial evolution and policy. His work has been published in several top academic journals such as the Academy of Management Journal, Journal of Behavioral Decision Making, Journal of Risk and Uncertainty, Organization Science, and Management Science. Professor Mostafa has received numerous teaching awards and has taught at both the undergraduate and graduate levels. He earned his BA from Lawrence University and his MSc and PhD from Carnegie Mellon University.
Professor Mostafa serves as the Director of Ivey's Lawrence National Centre for Policy & Management. He leads the Centre's initiatives in research, outreach, and teaching to promote sound policy and corporate action that unlocks national competitive advantage by addressing challenges and opportunities related to digital, trade, and social infrastructural pillars.
Originating from Bangladesh, Mostafa enjoys sports such as cricket and soccer. He has a passion for music, specifically 60's and 70's Bengali and English music. He also loves cooking and traveling.
Courses
Start anytime. Complete at your own pace.
| Length | Learning Method | Tuition Fees |
|---|---|---|
| 10 hours | Online Self-Paced |
$690.00 CAD
$640.00 CAD |
Enrollment and Payment FAQs
Click “Enroll Now” on the course page and follow the prompts to complete your registration.
We accept major credit cards. You’ll be prompted to select your preferred method during checkout.
Yes. You can forward the payment link or invoice to your employer, or contact us for assistance with corporate enrollment.
- For Cohort programs - 30 Days Before Program Start
- Cancellation: You will receive a full refund of the program fee.
- Transfer to a Later Date: No fees apply.
- Less than 30 Days Before Program Start
- Cancellation: Incurs a 25% cancellation fee.
- Transfer to a Later Date: Incurs a 15% transfer fee.
- Compassionate exceptions: Fees may be waived on compassionate grounds, please contract (Operations email).
- Unredeemed transfers: If not used within 12 months, the full program fee is forfeited.
No, the purchaser and the person taking the course must match to ensure the digital credential is given to the correct person.
Yes, please contact (Operations email) and they will set up a group invoice.
Certification and Credentials
Yes. You’ll receive a digital certificate from Ivey Business School upon successful completion of the course.
Ivey’s certificates are widely respected and can be added to your LinkedIn profile or resume.
Upon completion, you’ll receive a secure digital credential directly to your email, that can be shared and verified online.
Self-Paced Course Structure and Experience
This is a self-paced, asynchronous course with interactive modules, quizzes, and AI-powered feedback.
You’ll have access for 90 days from the date of purchase.
Approximately 10 hours in total. You can complete it at your own pace over the course of 90 days.
There are no formal exams. You’ll complete quizzes and knowledge checks with unlimited attempts.
This course is self-directed and does not include instructor-led live sessions. You may interact with other students through online activities.
