Microeconomics: Analysing the operation of individual markets (such as the market for gold or the market for housing). You will use this analysis to evaluate government policies designed to improve or correct specific markets. These include policies to control pollution and improve the environment, policies to control the behaviour of large companies and improve competition, and policies to improve the operation of the labour market. Macroeconomics: Analysing the operation of the economy as a whole, covering topics such as taxation, government spending and interest rates. You will develop a theoretical understanding of how the UK authorities can use economic policies to achieve objectives such as low unemployment. This understanding will then extend into looking at the global economy and you will study how countries can work together to improve trade, and examine policies designed to enable less developed countries to achieve economic growth.