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Department of Economics

Introduction to economic analysis

Course Code:
153400003
Unit value:
1
Year of study:
Year 1
Taught in:
Full Year

This is a first course covering both microeconomics and macroeconomics. It introduces analytical techniques employed by economists in understanding and explaining the behaviour of markets, consumers and firms at the micro level; and employment, inflation, interest rates and the balance of payments and growth at the macro level. Emphasis is given to applications of these ideas in the main to the UK economy and where appropriate to the economies of the Third World.

Introduction to Economic Analysis is a compulsory course and core course for all students studying economics.

Objectives and learning outcomes of the course

On successful completion of the course, students will be able to:

  1. Identify the analytical techniques used by economists and compare their relative merits
  2. Show how the behaviour of the markets, consumers and firms at the microeconomic level can be explained through analytical techniques
  3. Assess how analysis is used to illustrate employment, inflation, interest rates and the balance of payments and growth at the macroeconomic level

Method of assessment

Assessement weighting: Exam 80% / Coursework 20%. Resubmission of coursework regulations do not apply to this course.

Suggested reading

  • Snowdon, B., H. Vane and P. Wynarczyk. A Modern Guide to Macroeconomics : an Introduction to Competing Schools of Thought (E. Elgar Pub, 1994).
  • Varian, H. R, . Intermediate Microeconomics : a Modern Approach (5th ed. W.W.  Norton & Co., 1999)