Economic Principles (Foundation Year)

• Credit value: 30 credits at Level 3
• Convenor: Jose Camarena Brenes
• Tutors: Dr Peter Barnes, Dr Tony Conibear
• Assessment: two 1500-word essays (20% each), weekly online quizzes (20%) and a test (40%)

On this module we explore a wide range of basic economic principles to help you understand economic decision-making at the level of the individual market as well as at national and international levels. You will develop keen analytical skills to apply to the discussion of contemporary problems of both principle and policy.

Indicative syllabus

• An introduction, and an analysis of the market, buyers and sellers and price
• The economics of the firm
• Allocative efficiency and market failure
• Macro economics - basic models and measurement
• The labour market and income distribution
• Fiscal and monetary analysis and policy, inflation and unemployment
• International trade and globalisation

By the end of this module, you will:

• have basic knowledge and appreciation of the key terminology and themes in public policy debate
• have an appreciation of the importance of critical thought
• be able to think independently about what you have read
• be able to appraise and evaluate arguments
• be able to apply basic principles in the explaining of real-world economic behaviour.