Prerequisites / Exemptions
You must take this course either with or after:
- Statistics 1 (ST104A)
- Mathematics 1 (MT105A) or Calculus (MT1174).
- The fundamental economic problem (i.e. scarcity)
- Production possibility frontiers and opportunity cost,
- The role of the market
- Positive and normative economics
- Theory and models.
- The Theory of Consumer Behaviour
- The Theory of the Firm
- Markets: Demand and Supply
- Factors Market
- Coordination and Welfare
- The Goods Market
- Money and Banking
- General Equilibrium
- Prices, Inflation and the Phillips Curve
- Exchange Rate Determination and the Money Sector
- Economic Growth
- Business Cycles
- International Trade
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.
Unseen written exam (3hr).
- David Begg, Stanley Fischer and Rudiger Dornbusch. Economics. McGraw-Hill, 2005.
- Richard Lipsey and Alec Chrystal. Economics, 13th edn. Oxford University Press, 2015.
- Amos Witztum. Economics: An Analytical Introduction. Oxford University Press, 2005.