Economics

Course summary

Economics is an exciting course that delves into the reasons why everyone cannot just have everything. We call this scarcity and it means that individuals, firms, councils and governments have to make tough choices about how best we can use these scarce resources to meet our ever-expanding needs. It is the task of the economist to explain and analyse these choices facing economic agents such as consumers, firms or the government. We will look at how prices are determined and why inflation, GDP, unemployment and oil prices are often in the news due to the impact they can have.