Course overview
The aim of this course is to introduce students to the fundamental principles of economics and its application to analysing individual behaviour, markets and government policy in the macroeconomy. The economic decisions faced by individuals, households, firms and governments; analysis of prices and output determination in the context of markets and incentives; market structures, the strengths and weaknesses of the market mechanism and the role of public policy; business cycles, inflation and unemployment; role of monetary and fiscal policy; trade and the open macroeconomy.
Course learning outcomes
- Describe and utilise the fundamental tools, methods and language of economics to analyse resource allocation issues.
- Explain some of the economic factors underlying individual decision-making, markets and firms.
- Describe the impact of incentives and use economic models to illustrate how agents and markets respond to incentives.
- Identify the limitations of the market mechanism and analyse the role of government in affecting markets and decision-making in the general economy.
- Apply economic principles and concepts to analyse business cycles and monetary and fiscal policy in an open macroeconomy, and to demonstrate the significance of trade and globalisation.
- Demonstrate Business Enterprise Skills: i) Self-Management (foundation level); and ii) Problem Solving (foundation level).
Availability
Class details
Online
Class number 2052
Section 01OL
Size 500
Available 483
Notes:
Class details
Online
Class number 4047
Section 01OL
Size 500
Available 490
Notes:
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