Principles of Economics

The module provides students with a thorough understanding of economics at an introductory level. The module is aimed at teaching students how to think as an economist, and how to construct and critically assess economic models.

The first half of the module covers the principles of microeconomics and shows how they can be applied to real-life situations and economic policy. The second half develops a framework for understanding macroeconomic events and macroeconomic policy. The emphasis throughout the year is to demonstrate the usefulness of economics as an analytical tool for thinking about real world problems.

1. Demonstrate knowledge and understanding of the basic principles of microeconomics and macroeconomics

2. Apply relevant knowledge and understanding of economic theory to contemporary economic issues and debates

3. Demonstrate analytical, graphical and numerical skills to address economic problems.

4. Utilise and solve simple economic models that explain economic behaviour and phenomena