The first part of the course covers microeconomics, which is concerned with the allocation of scarce resources between competing uses, at the dis-aggregated level of firms and households. Central issues include the role of the price mechanism in resource allocation, and the different types of market structures for goods and factors. The second part of the course deals with the economy at an aggregate level. Topics covered include the measurement and determination of national income, unemployment and inflation. This section of the course includes an analysis of the role of the government in tackling macroeconomic problems.
Earlier editions remain usable.
Class Programme Weekly, starting in week 3.