Learning Outcomes:
On completion of this module you should be able to:Understand the key principles of economics including the economic problem; demand and supply; elasticity; efficiency and equity; output and costs; perfect competition; monopoly
Demonstrate an ability to critically discuss contents of the module and your workplace experience.Understand the main policy issues confronting governments and the potential conflicts between different aspects of policy; the constraints within which governments now operate as a consequence of globalisation and globalised agreements;On the demand side of the economy explain the role of policy - fiscal; incomes; monetary; & exchange rate - in the development of the economy in the short-run;On the supply side of the economy to understand the importance of:labour force and the level of education; the capital stock, technology, foreign direct investment and industrial policy; and the crucial role of the market system: competition policy, externalities, market failure.