Skip to main content
Languages, Linguistics and Film

Economics (IFP/ IFP 6007)

Overview

The Economics module will equip you with the standard methods and analytical tools of microeconomic and macroeconomic theory, with emphasis on the relationship between the decisions of individual agents, the operation of markets and the general state of the economy. The microeconomics component will analyse the nature of competition a firm faces, the type of industry in which it operates, the prices of its inputs, while the macroeconomics component will focus on growth, inflation, unemployment, fluctuations and crises.   You will look at using supply and demand analysis in a variety of situations, develop an understanding of the main types of market structures, acquire an understanding of the extent to which a firm operates internationally and how it is influenced by global market opportunities and the state of the world economy, develop an understanding of major issues – growth, unemployment, inflation, balance of payments / exchange rates - and the key relationships between them, and also the roles of fiscal and monetary policies in achieving the intended growth, inflation.  Finally, you should have an understanding of the importance of money and the banking system and international trade.

 

Module Structure

You will have a two hour lecture each week, plus a one hour seminar

 

Learning Outcomes

By the end of this module you will be able to:

  • Develop a working understanding of the theory of consumer choice that underlies the demand-side of the market;
  • Develop a working understanding of the role of risk and uncertainty, as well as the cost minimisation and profit maximisation principles;
  • Develop a working understanding of the economic role of government and its fiscal policy, of central bank and its monetary policy, and market structure;
  • Demonstrate your ability to apply economic theory to a range of economic problems and effectively communicate your analysis;
  • Identify policy options and assess the likelihood they would improve economic growth, efficiency and equity;
  • Demonstrate your ability to define and analyse economic problems using algebraic and statistical methods;
  • Acquire and apply knowledge;
  • Develop a basic understanding of research methodology including literature surveys, data gathering, data analysis and their relationship to policy-making;
  • Identify the benefits and costs of a global economy.

 

Aims

The aim of the course is to provide an introduction to economics and teach you how to use basic economic models and skills to analyse real life economics problems.  

 

Assessment

You will be assessed by exam:

  • Mid-term test (20%)
  • End-of-term test (20%)
  • Final exam (60%)

 

Who teaches this module?

Zeenat Soodebar 

Back to top