Economics

Course summary

Economics falls into two main sections: microeconomics and macroeconomics. Whereas macro looks at the big issues affecting the economy as a whole (eg unemployment, inflation) micro looks at the smaller scale with a focus on for example the pricing of individual commodities like oil or gold and the salaries paid in different sectors. Economics looks at the reasons why change occurs and then builds theoretical models to help analyse those changes. An Economics student will learn to explain why the price of oil is so volatile or why unemployment in the UK is 4.3 per cent but in France it is 7.2 per cent. Beyond the classroom, students also publish the Headington Economist magazine, run their own Doughnut Economics Club and compete in external competitions such as the RES Essay Competition.