Economics

Course summary

Economics seeks to explain in rational terms the economic behaviour of individuals, firms and the economy as a whole. Economics affects you and should interest you as a citizen. The course will improve your understanding and appreciation of the controversies of economic policy, e.g. unemployment, Balance of Payments, Inflation, public and private ownership, the structure of UK industry, the developing world and environmental issues Economics is divided into Microeconomics and Macroeconomics. Micro looks at individual markets and how they can fail or succeed. Macro looks at the management of the whole economy. Economics is about the economy in which you live and the world around you. You will develop a genuine understanding of how it all works. You will acquire knowledge skills and understanding that will help you throughout your life. You will be encouraged to challenge ideas, to argue your point of view and listen to differing viewpoints. Keeping up-to-date with the news will become a pleasurable activity as you start to understand what it all means for the economist.