|Module Title||ECONOMICS 1A:RESOURCE ALLOCATION AND THE MARKET PROCESS|
|Co-ordinator||Professor John Cable|
|Course delivery||Lecture||20 Hours|
|Seminars / Tutorials||5 Hours|
To provide an introduction to the principles underlying microeconomics - the study of consumers, firms and market behaviour.
On successful completion of the module students will understand the tradeoffs people face, the notion of opportunity cost, the way marginal analysis can help lead to rational decisions, how people respond to incentives, how trade can make everyone better off, and how markets are usually a good way to organise economic activity, but governments can sometimes improve market outcomes.
The current year's module outline can be found via The School's website
N G Mankiw. (2000) Principles of Economics. 2nd ed. Dryden Press