Economics

Course summary

Economics is a ‘social science’ that examines the behaviours of individuals and their interaction with firms and the external environment - local and global economies. The course will examine the rules, concepts and theories that are the key drivers and questions why things happen within an economy and their impact. Economics requires logical thinking, an interest in current affairs and the ability to analyse key concepts, discuss economic themes and be self-directed in terms of research and evidence collection. Having good data-handling skills is beneficial. Students need to know why decisions are being made by governments and world leaders to kick-start growth within the economy is important. Understanding the policies and support packages that have been set up for individuals, and industry are explored. This will enrich your understanding, initially of basic theories linked to scarcity of resources, supply and demand, inequality and poverty, financial systems and market failure, amongst others. This will make your learning experience more dynamic, applicable and transferable to the real world. Over two years you will study a range of topics across both: Micro Economics - Microeconomics focuses on issues that affect individuals and companies. Macro Economics - Macroeconomics focuses on issues that affect nations and the world economy.