Introduction to economics EC1002
This course will introduce you to the fundamentals of economic analysis and reasoning. It is the course upon which subsequent, more specialised economics courses are based.
Prerequisites / Exemptions
You must take this course either with or after:
- Statistics 1 (ST104A)
- Mathematics 1 (MT105A) or Calculus (MT1174).
Topics covered
Microeconomics
- The Theory of Consumer Behaviour
- The Theory of the Firm
- Markets: Demand and Supply
- Factors Market
- Coordination and Welfare
Macroeconomics
- Aggregation
- The Goods Market
- Money and Banking
- General Equilibrium
- Prices, Inflation and the Phillips Curve
- Unemployment
- Exchange Rate Determination and the Money Sector
- Economic Growth
- Business Cycles
- International Trade
Learning outcomes
If you complete the course successfully, you should be able to:
- Describe and evaluate the models and methods used in economic analysis.
- Formulate real world examples in the language of economic modelling.
- Apply and use the economic models to analyse these issues.
- Assess the potential and limitations of the models and methods used in economic analysis.
Assessment
Unseen written exam (3hr).
Essential Reading
- Primary textbook: Begg, D., S. Fischer and R. Dornbusch
Economics. (McGraw Hill). - Supplementary textbook: Lipsey, R.G. and K.A. Chrystal Economics. (Oxford University Press).
Course information sheets
Download the course information sheets from the LSE website.
