Economics

Course summary

The course covers the following four key themes: Theme 1 - Study of microeconomic concepts. Development of an understanding of the nature of economics, how markets work, market failure and government intervention. Theme 2 - Study of microeconomic concepts. Development of an understanding of the measures of economic performance, aggregate demand, aggregate supply, national income, economic growth and macroeconomic objectives and policy. Theme 3 - Development of the microeconomic concepts in Theme 1 focussing on business economics. Development of an understanding of business growth, business objectives, revenues, costs and profits, market structures, the labour market and government intervention. Theme 4 - Development of the microeconomic concepts in Theme 2 applying them to concepts in a global context. Development of an understanding of international economics, poverty and inequality, emerging and developing economies, the financial sector and the role of the state in the macroeconomy.