This module provides students with an introduction to core micro and macro-economic theory and principles in a business context.  It combines basic micro and macroeconomis with cases/applications to provide students with the ability to understand and analyse current and topical economics issues with relevance for business.

Topics typically covered may include:  Microeconomic issues such as demand and supply analysis; elasticity; cost analysis; influence of market structure; perfect and imperfect competition; monopoly and oligopoly; market failures; government intervention in the market. Macroeconomic issues such as economic growth; unemployment and inflation; Keynesian analysis; monetary policy; European Monetary Union; international trade.

On completion of this module the student should be able to:

• demonstrate knowledge and understanding of the meaning of key microeconomic and macroeconomic concepts relating to supply and demand, market structure, costs and market failures, macroeconomic policy and international trade;
• Apply diagrammatic analysis to demonstrate the broad principles involved in the microeconomic theory of markets and market failures and macroeconomic policy decisions;
• analyse real world cases and economic problems faced by individuals, business and governments using micro and macroeconomic principles and models;
• interpret and apply economic principles and models to understand and analyse the business and economic environment in which we live and work, and to appraise the impacts of economic decisions and events.