This module provides a broad overview of economics suitable as an introduction to the subject for all undergraduates. It is designed to develop students' knowledge of economic ideas in the context of contemporary issues using the tools of elementary economic analysis. Students are shown how to apply economic reasoning to a range of problems relevant for understanding the mechanisms and institutions which allocate and distribute resources. In the Autumn Term theories of individual (micro) behaviour are introduced, including consumer decision-making as well firms' conduct in different market structures. In the Spring Term the focus shifts to the study of aggregate (macro) level economic activity: inflation, unemployment, business cycles and economic growth. The national economy is analysed in a global environment that includes international trade, monetary and financial systems. The effects of government policy and the choice of those policies is analysed throughout the module.
Upon completion of this course, students will be able to apply elementary economic principles to the analysis of problems in microeconomics and macroeconomics. They will have learned how to apply marginal analysis to demonstrate knowledge of economic decision making and the relevance of opportunity costs. In completing the assignments and tests, students will demonstrate their problem-solving analytical and deductive skills.
Employability skills include: Academic skills: literacy, numeracy, communication; Professional working skills: adaptability; flexibility, decision-making; External awareness: economic and business environment and policy; Personal development planning: Time management, self management, reflection and evaluation.
- Module Supervisor: Lukas Altermatt
- Module Supervisor: Tim Hatton
- Module Supervisor: Gianluigi Vernasca