Introductory description

This module allows students to develop an understanding of fundamental and intermediate concepts in micro and macroeconomic analysis by equipping them with a range of appropriate analytical skills, including descriptive, graphical and mathematical methods. This allows students to develop the capacity to apply analytical techniques to real world problems.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Typically, topics covered will include those such as:
Micro (term 1)

• The Capitalist Revolution
• Technology, Population and Growth
• Scarcity, Work and Choice
• Social Interactions
• Property and Power
• The Firm: Owners, managers and employees
• The Firm and its Customers
• Supply and Demand
• Markets, Efficiency and Public Policy

Macro (Term 2)

• Consumption, saving and investment.
• Aggregate demand, the multiplier and the IS curve
• The labour discipline model of equilibrium unemployment
• Wage setting, inflation and the Phillips Curve
• Social Preferences over inflation and unemployment, the central bank
• Monetary policy stabilisation: central bank responses to economic shocks
• Fiscal policy stabilisation
• Economic growth in historical and global perspective
• The Solow model of economic growth

Learning outcomes

By the end of the module, students should be able to:

• Subject Knowledge and Understanding:... demonstrate knowledge of economic behaviours, outcomes, trends, developments, phenomena, institutions and policies.
• Subject Knowledge and Understanding:...demonstrate an understanding of key concepts, principles, theories and models in Economics.
• Subject Specific/Professional Skills:...demonstrate the capacity for abstract reasoning and to simplify economic problems through the application of theoretical models.
• Subject Specific/Professional Skills:...demonstrate the capacity to interpret economic data and to use data to inform the selection and application of appropriate economic tools of analysis.

Indicative reading list

Please see Talis Aspire link for most up to date list.

View reading list on Talis Aspire

Subject specific skills

Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Strategic thinking
Problem-solving
Abstraction
Policy evaluation
Analysis of incentives
Analysis of optimisation

Transferable skills

Students will have the opportunity to develop:
Research skills
Numeracy and quantitative skills
IT skills
Written communication skills
Oral communication skills
Mathematical, statistical and data-based research skills