On successful completion of the module students will understand how markets co-ordinate economic activity and produce equilibrium prices and quantities; how to evaluate market outcomes for policy purposes; and the mutual benefit from trade between individuals and between countries. They will also have acquired an understanding of the main determinants of macroeconomic (aggregate) economic activity, its principal measures and how it changes over time. Students will also have developed an understanding of the causes of inflation and unemployment.
To introduce students to the principles underlying economics using illustrations from the study of markets and the macroeconomy.
This module introduces students to the principles underlying microeconomics and macroeconomics, providing key analytical concepts for students of business, management, and other degree schemes in which an appreciation of economic perspectives is valuable.
What is Economics?
Demand and Supply
Government Intervention in Markets
Measuring the Efficiency of Markets
Goods which Impose Costs on Others
The Tax System
Measuring Economic Activity
The Determinants of Macroeconomic Acitivity
Inflation, Deflation and Unemployment
** General Text
J Sloman (2000) Economics
4th edition. Prentice Hall
K E Case, R C Fair, M Gartner and K Healther (1999) Economics
2nd edition. Prentice Hall
R Frank and B Bernanke (2004) Principles of Economics
2nd edition. McGraw Hill
N G Mankiw (2004) Principles of Economics
3rd edition. Thomson
This module is at CQFW Level 4