Economics

Course summary

Students use economic models to help them understand the complexities of the world around them, and use data to help them explore markets and economies and how governments try and influence both. Students are introduced to different perspectives, aspects of economic history and develop an understanding of economic issues. In Theme 1 you will learn about markets, how markets work and why markets fail, and how governments intervene to stop market failure. In Theme 2 you will learn about the UK economy – performance and policies, measures of economic performance, aggregate demand, aggregate supply, national income, economic growth, macroeconomic objectives and policy. Theme 3 is about business behaviour and the labour market, business growth, business objectives, revenues, costs and profit, market structures, labour market, and government intervention. Theme 4 concentrates on a global perspective. Topics studied include international economics, poverty and inequality, emerging and developing economies, the financial sector, and the role of the state in the macroeconomy.