Economics and Policy
- Module code
- Module leader
- Allan Butler
- Module level
- Module credits
- Min study time
- 150 hours
- Contact Hrs within study time
- 30 hours
- Teaching period
- Semester 2
The contents of the module examine real-life economic realities, including examples that relate to business, including those in the agricultural, food and rural sectors. Subjects covered include capitalism as our dominant economic system; technology, economic growth and degrowth policies; the importance of scarcity and choice; how social interactions determines certain economic behaviour; market supply and demand; market instabilities and failure, climate change policies; government intervention policies; trade, globalisation and Brexit; debt and financial markets; uncertainty, bubbles and economic complexity; and economic policy responses to manage inflation, investment, unemployment and work in national economies.
To achieve credit for this module, students must be able to:
- Demonstrate through a written report understanding of the core principles economics – opportunity costs, supply and demand, and the role of the state, government intervention and externalities – and their theoretical limitations.(B5)
- Demonstrate knowledge and understanding that economics has many perspectives that may be used to support or refute economic arguments.(B6)
- Collate and organise data from different sources and demonstrate an ability to interpret economic data and present this in a written report. (C3)
- Demonstrate a knowledge and understanding of economic fluctuations in inflation, finance and unemployment, and understand how these affect the business within economies (A1)
- Critically discuss the main issues in the management of national and international economies. (B4)
- Critically discuss the interconnectedness and complexity of economic systems and its influence on businesses. (B3)
|Coursework||Case study Report||100%|
Students should be familiar with the content of the following:
- Chang, H., 2014. Economics: The User’s guide. Pelican
- Core Project, 2016. The Economy, http://www.core-econ.org/ebook/
- Nellis, J G. and Parker, D. (2006). Principles of business economics. 2nd ed. Pearson Education.
- Keen, S., 2011. Debunking Economics – Revised and Expanded Edition: The Naked Emperor Dethroned? Zed Books.
- Elsner W., 2012. Microeconomics of Interactive Economies: Evolutionary, Institutional and Complexity Perspectives. Edward Elgar.