Economics

Introduction to Economics

Module code: L1028
Level 4
15 credits in autumn semester
Teaching method: Lecture, Practical, Seminar
Assessment modes: Computer based exam, Coursework

This module provides an introduction to the fundamental principles of economics. The first half of the module deals with micro-economic issues including the behaviour of individuals and firms, their interaction in markets and the role of government. The second half of the module is devoted to macroeconomics and examines the determinants of aggregate economic variables, such as national income, inflation, and the balance of payments, and the relationships between them.

Module learning outcomes

• Have demonstrated knowledge of the core principles of economics
• Be able to use the power of abstraction to focus upon the essential features of an economic problem and to provide a framework for the evaluation of the effects of policy or other exogenous events.
• Have demonstrated an understanding of appropriate concepts in economics that may be of wider use in a decision-making context (e.g. opportunity cost)
• Have learnt to communicate economic ideas, concepts and information using means of communication appropriate to the audience and the problem at issue.