First year module
Lecturer: Stan Siebert
Supply and demand analysis. Government intervention in the market. Production and costs. Profit maximising under perfect competition and monopoly. Imperfect and monopolistic competition. Alternative theories of the firm. Macroeconomic issues concerning economic growth, unemployment and inflation. Simple Keynsian analysis. Monetary policy. European Monetary Union, international trade and the economics of transnational firms.
On completion of this module the student will be able to: attain a thorough grounding in microeconomics and macroeconomics; understand the basic economics of firms and markets; appreciate the impact of economic events on businesses.
2 hr examination 75%
Essay/class test 25%