QUSU06029 2019 Economics

Analyse the role of economic theory and discuss different types of economics systems and schools of thought.

Demonstrate how market forces interact to determine prices and output.

Define the concept of elasticity and appraise the factors underlying both the demand and supply curves.

Describe economic activity and differentiate between the different measures of economic activity.

Distinguish between fiscal and monetary policy.

This module will be delivered through lectures and tutorials.

Moodle is used by lecturers to direct and manage the learning process and facilitates: Formal Learning: posting of lecture notes and continuous assessments, additional resources and supporting documents. Links to websites. remote collaboration on group work (discussion boards, collaborative document editing) Informal Learning: social communication between learners (discussion boards, chat rooms, Wikis, blogs) learner journals (reflective journals, e-portfolios).

This module is 40% Continuous Assessment and 60% Final Examination.

Repeat Continuous Assessment and / or Final Examination.

Micro-Economics

• The Economic Problem
• Scarcity, Choice, Opportunity Cost, Production Possibility Curve,
• Economic Growth,
• Economic Systems for resource Allocation,
• Market Theory - Supply, Demand, The Price Mechanism, Market Equilibrium, Elasticity, Types of Markets, Market Failure, Externalities,

Macro-Economics

• National Income,
• Economic Indicators and the business cycle,
• Circular Flow,
• Aggregate Supply and Demand,
• Managing the Macro-Economy - Key objectives, Fiscal, Monetary and Regulatory Policies,
• Competition Policy.