This module represents an introduction to the economic way of thinking with an emphasis on the principles of microeconomics and macroeconomics which will provide a basis for further study and progression.
Introduction: Economics as a social science. Economic systems. Concepts of scarcity, choice and opportunity cost.
Microeconomics: Demand and Supply. Elasticity. Consumer theory. Production and costs. Models of market structure. Market failure and state intervention.
Macroeconomics: Methods of measuring economic activity. Money and banking. Income determination. Multiplier. Aggregate demand and aggregate supply. Business cycle.
Macroeconomic policies. International economics.
A variety of methods may be used including lectures, tutorials, online resources, class discussion and problem-solving.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 60 |
| Other Assessment(s) | 40 |