Economics

Course summary

Economics explores how markets work; it looks at how supply and demand interact to allocate resources in local, national and international markets. This will involve looking at decision making using traditional theories but also looking at a new field in economics: behavioural economics. Students will develop an understanding of why markets fail and consider the strengths and weaknesses of possible government intervention to remedy these market failures. During their course of study, students will develop an understanding of recent UK economic performance as well as trends in the global economy over the past 25 years. This includes looking at the causes and consequences of the 2008 global recession and comparing the events to the Great Depression. Students will be required to assess the impact and effectiveness of current government policies to deal with these problems, as well as considering alternative policies and approaches. To develop their skills, knowledge and understanding in economics, students will need to be competent in relevant quantitative skills.