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Economic Principles (Foundation Year)


  • Credit value: 30 credits at Level 3
  • ConvenorDan McVeagh
  • Tutors: Peter Barnes, Tony Conibear
  • Assessment: two 1500-word essays (20% each), weekly online quizzes (20%) and a test (40%)

Module description

This module allows you to explore a wide range of basic economic principles in order to establish a foundation for understanding economic decision making at the level of the individual market, as well as at national and international levels. You will develop keen analytical skills to apply to the discussion of contemporary problems of both principle and policy.

Indicative module syllabus

  • An introduction and an analysis of the market, buyers and sellers and price
  • The economics of the firm
  • Allocative efficiency and market failure
  • Macro economics - basic models and measurement
  • The labour market and income distribution
  • Fiscal and monetary analysis and policy, inflation and unemployment
  • International trade and globalisation

Learning objectives

By the end of this module, you will:

  • have gained a basic knowledge and appreciation of the key terminology and themes in public policy debate
  • have gained an appreciation of the importance of critical thought
  • be able to think independently about what you have read
  • be able to appraise and evaluate arguments
  • be able to apply basic principles in the explaining of real-world economic behaviour.