Economics

Course summary

Theme 1: Introduction to markets and market failure focuses on microeconomic concepts. Students will develop an understanding of the nature of economics, how markets work, market failure and government intervention. Theme 2: The UK economy performance and policies focuses on macroeconomic concepts. Students will develop an understanding of measures of economic performance, aggregate demand, aggregate supply, national income, economic growth and macroeconomic objectives and policy. Theme 3: Business behaviour and the labour market theme develops the microeconomic concepts introduced in theme 1 and focuses on business economics. Students will develop understanding of business growth, business objectives, revenues, costs and profits, market structures and labour market. Theme 4: A global perspective develops the macroeconomic concepts introduced in theme 2 and applies these concepts in a global context. Students will develop an understanding of internal economics, poverty and inequality, emerging and developing economies and the financial sector.