Module code: MA7433
The this module is to introduce you to core economic principles and how these may be used in a business environment to help decision making. It explores the principles underlying economics that explain how the economic system works, where it fails and how decisions taken by economic agents affect the economic system. Topics include:
- economic models and recent historical applications
- relationships between governments, markets and firms
- international trade
- money and interest rates
- unemployment and inflation
You will also learn to evaluate and critique competitive market theory and test the theory using real examples; analyse consumer demand and behaviour; and define the efficient operation of a firm. While developing these skills, you will also increase your awareness of the impact of regulation and be able to compare the effectiveness of common policies and strategies. You will learn the fundamentals of economics within a business context.