[5][6] According to the Ministry of Education and Science of Ukraine, 28.4% of all students receive specialties in the field of economics, trade and business.
In response, the CORE Project, for example, has developed course materials, including a textbook called The Economy, that emphasize real-world applications in economics.
[18] [19] [20] Economics is also studied as a stand-alone course in business- and finance degrees, with the purpose of informing management- or investment decision making.
Microeconomics develops these respectively for firms and individuals, assuming businesses seek to maximize their profit under the various regimes of competition, and that consumers, similarly, are attempting to ”maximize utility” given their resources; the price will correspond to the point where supply and demand are equal, i.e. a "partial equilibrium".
Macroeconomics focuses on the sum total of economic activity - similarly analyzing various equilibria - covering the performance, structure, behavior, and decision-making of an economy as a whole.
At the “intermediate” level, microeconomics extends to general equilibrium, to an analytic approach to demand-modeling where curves are derived from utility functions, and to game theory as applied to competition, and hence supply; intermediate macroeconomics covers various advanced models of the economy, differences between schools here (particularly New-Keynesian, New-classical, and Monetarist), and the related policy analysis.
At the graduate level, the treatment focuses on microfoundations - where macroeconomic models aggregate microeconomic results - and dynamic stochastic general equilibrium, allowing for heterogeneity, thereby relaxing the idea of a representative agent.
The study begins with the single-equation methods, i.e. (multiple) linear regression, and progresses to (multivariate) time series, simultaneous equation methods and generalized linear models; at the graduate level, the treatment in parallel emphasizes the underlying statistical theory.
Here the macroeconomic element deals with topics relevant to commerce, such as inflation, business cycles, exchange rates, the banking system, and the money supply; the microeconomic element mainly focuses on the managerial economics relating to product pricing, industry structure and competition.
Many undergraduate business degrees offer economics as a major, with the structure largely as above, although often with fewer theoretical and mathematical courses.
Managerial-type microeconomics may be included in programs with a strong business focus, such as the Master of Science in Finance; otherwise, microeconomics is explicitly included only in the more theoretical Master of Finance programs, here emphasizing concepts from financial economics such as expected utility (regardless, relevant concepts are covered when required as underpin to a specific module).