Economics

Course summary

This course is relevant to people with an interest in what is going on in the business & financial world around them. It is for people who want to understand, analyse and evaluate how the limited resources on this small planet are allocated between their competing uses. Everything you do and every choice you make is about Economics. Economics is about understanding human behaviour through the incentives that people have when making a choice. It teaches you to be critical, and analytical and to write extended evaluations, giving you the necessary theoretical models so that you can evaluate government economic policy for yourself. This includes the following topic areas: 1. Economic methodology and the economic problem 2. Individual economic decision making 3. Price determination in a competitive market 4. Production, costs, and revenue 5. Perfect competition, imperfectly competitive markets and monopoly 6. The labour market, the distribution of income and wealth, including poverty and inequality 7. The market mechanism, market failure, and government intervention in markets 8. The measurement of macroeconomic performance 9. How the macroeconomy works and Economic Success 10. Financial markets and monetary policy 11. Fiscal policy and supply-side policies 12. The international economy