In such cases, exemptions may be granted from professional qualification programmes. The aim of the course is to introduce the student to the methodology and concepts through which scarce resources and the problem of their allocation may be studied. The course endeavours to provide an introduction to the basic concepts of economics in the first year, together with applied analysis. Level Two aims to provide an understanding of both macro and micro economic theory. The final year of the course attempts to analyse in depth, both through theoretical and applied analysis, some of the most important areas of economics today.
Students can choose courses such as international markets, labour economics, the economics of China.
The course at Levels One and Two consists of two main components. Understanding Markets examines the nature and scope of economics, together with demand, supply, the theory of the firm, market structures, the theory of distribution, customer satisfaction, corporate behaviour and welfare economics. Understanding the Economy includes the composition, measurement and determination of National Income, and focuses on fiscal and monetary policy, inflation and unemployment. Macro-economic models are also considered, together with the balance of payments, exchange rates and economic growth. At Level Two students may also participate in an Economic Research Methods course.