Economics

Assessment

The course is made up of two broad sections of Micro & Macro. The course is studied over two years and assessed with three two hour exams at the end of this period. Micro in the first year contains topics such as: ‘Markets and Market Failure’. Modern Economics involves the understanding of how markets work. This unit examines the behaviour of buyers and sellers who make up various markets, and how they interact. It is also about how and why markets don’t work efficiently sometimes. Macro relates to the ‘The National & International Economy’. Examples of topics in this section include looking at the UK and other economies and assessing how well they are performing. We analyse the key performance indicators of inflation, unemployment, economic growth and international trade. We consider the decisions that have to be made by government in the management of the economy, and the policies they can use in the quest to improve living standards. In the second year, Micro will include topics such as the labour market and market structures, whereas macro includes the financial sector and Globalisation.