What do I need to know, or able to do, before taking this course?
It doesn't matter if you haven't studied economics before. You might have an interest in economics and want to know more about the impact economics has on the world around you. You might want to investigate some of the stories you hear in the news- Why do some economies grow and others don't? Will the Eurozone survive? Why didn't economists predict the Global Financial Crisis? Does Africa have the potential of becoming the most powerful continent? And of course, what are the economic impacts of Coronavirus and national lockdown? This course will help you to understand all this and more!
What will I learn?
Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. An economic way of thinking can help you make better choices.
In Theme 1 and Theme 2 you will be introduced to the nature of economics, how markets work and why they fail. You will also consider the role of government and the UK economy. In Theme 3 and Theme 4 you will explore how businesses grow and compete, the labour market and how the government intervenes to make markets work better. You will also explore international trade, inequality within and between countries, emerging and developing economies and the public finances. You will also have an opportunity to consider the role and impact of the financial sector.