|Module Co-ordinator||Dr Maria Grydaki|
MODULE INTRODUCTION, AIMS AND OBJECTIVES
The first half of this module introduces microeconomics. At the heart of every economy, consumers maximize their utility from the consumption of goods and firms maximize profits from the production of goods. In microeconomics, we focus on individual consumers and firms and analyse their demand and supply patterns when interacting in markets.
The second half of the module provides an introduction to macroeconomics. Macroeconomics analyses the economy as a whole. This involves aggregate demand and aggregate supply. We study determinants of national output and its growth over time and try to find explanations for macroeconomic problems such as recession, unemployment, inflation and the balance of international payments. Finally, we discuss policies adopted by governments to deal with these problems.
The objectives are
LEARNING OUTCOMES AND SKILLS DEVELOPED
RECOMMENDED READING LIST
The core text book for this module is:
Begg, D. and Ward, D., Economics for Business 5th ed., McGraw-Hill, 2016. (BW)