Economics

Course summary

This course introduces students to economic concepts through real-world scenarios. Theme 1: Introduction to markets and market failure Students develop an understanding of the nature of economics, how markets work, market failure and government intervention. Theme 2: The UK Economy – performance & policies Students develop an understanding of measures of economic performance, aggregate demand, aggregate supply, national income, economic growth, macroeconomic objectives and policy. Theme 3: The global economy This theme develops the microeconomic concepts introduced in Theme 1 and focuses on business economics. Students develop an understanding of business growth, business objectives, revenues, costs and profits, market structures, the labour market, and government intervention. Theme 4: Making markets work This theme develops the macroeconomic concepts introduced in Theme 2 and applies these concepts in a global context. Students develop an understanding of international economics, poverty and inequality, emerging and developing economies, the financial sector, and the role of the state in the macroeconomy.