Economics

Course summary

YEAR 1 Develops the foundations and skills that can be transferred to concepts studied later in the course. Students are exposed to the fundamental ideas of markets, costs and benefits, externalities and aggregate demand. Students also study microeconomics (individual markets) and macroeconomics (the economy as a whole). Year 1 is approximately 70 % microeconomics (prices, competition, market problems) and 30% macro-economics (GNP, unemployment, inflation). YEAR 2 Is 70 % macroeconomics and 30 % micro-economics; topics focus on trade, economic growth, and government economic policy. In addition, more emphasis is given to current economic affairs ideas such as contestability, the UK and Brexit, and behavioural economics.