Economics

Course summary

Economics is the social science which seeks to explain how human social systems organise production and consumption to satisfy our physical needs and wants. The subject, and the methods it applies, therefore has very wide application. The emphasis of this course is on the UK economy, including topics such as economic growth, inflation, unemployment and the labour market. You will also study the international perspectives including the European Union, globalisation, poverty, international trade and the environment. You will learn how to apply economic theory to the analysis of “real world” economic issues such as: • How are prices determined? • Why have energy prices risen? • What effect does economic downturn or recovery in Europe have on the UK economy? • What economic policies can be followed to help create jobs or reduce inflation? • How can we control the negative aspects of economic growth such as rising inequality or increased pollution? The key to doing well is being able to develop your ability to utilise economic methods to rigorously explain, and discuss, both microeconomic and macroeconomic outcomes, issues and ‘real world’ events.