Foundations of Economics

Module code: MN1017

Why do recessions happen? What leads to inflation? Austerity or stimulus? Economic issues dominate the news agenda, but have you ever stopped to think what's behind the headlines?

This module will introduce you to the foundations of economics, such as consumers and producers, market equilibrium including welfare implications, and basic macroeconomic concepts such as the GDP, inflation, unemployment and the roles of fiscal and monetary policies.

Learning

  • 20 hours of lectures
  • 8 hours of seminars
  • 172 hours of guided independent study

Assessment

  • Essay (40%)
  • Exam, 1 ½ hours (60%)