Professor D Quah, 50L.M206, Professor C Whitehead, STC. S364 and Dr P Kircher STC. S483

Compulsory for BSc Environment and Development. Optional for BSc Economic History, BSc Environmental Policy, BSc Human Resource Management and Employment Relations, BSc International Relations and BSc Management Sciences. It is not available to Economics specialists. Available as an outside option.

This is an introductory course in microeconomics and macroeconomics for those not expecting to take further specialist courses in economics.  It may not be taken if Economics B has already been taken and passed. No previous knowledge of economics is assumed. The treatment will be non-mathematical, but students are expected to be able to interpret graphs.

This course provides a foundation in economics, primarily to those without significant background in the subject. The course covers standard micro and macroeconomic theory and its extensions in order to make it possible to discuss empirical and policy issues. Topics include demand and supply, theories of consumer behaviour and cost, market structures, efficiency, distribution and optimality, factors markets, macroeconomic equilibrium in goods and money markets, aggregate demand and supply, unemployment, inflation, the balance of payments, growth in the global economy, and applications to policy.

Lectures 20 MT on microeconomics; 20 LT on macroeconomics and 2 ST on revision.

Lecture handouts are distributed at frequent intervals; they contain the outline of the lectures, details of suggested readings and questions for discussion in classes.
Classes 20 Sessional.

These classes are usually taught by Graduate Teaching Assistants. They deal mainly with questions arising out of the lectures and questions on the lecture handouts. They are also used to discuss students' written work.

Class teachers will normally set and mark four pieces of written work from each student during the course.

N. Gregory Mankiw and Mark P. Taylor (2010) Economics, South-Western Cengage Learning.

Before the start of the course students may wish to consult some texts written for the general reader. These include: P Donaldson, Economics of the Real World; P Donaldson & J Farquahar, Understanding the British Economy; J K Galbraith, Almost Everyone's Guide to Economics; R Pennant Rea & C Crook, Economists Economics; M Stewart & R Heilbroner, Worldly Philosophers. Further supplementary reading is given in the handouts.

A three-hour written examination in the ST based on the full syllabus. The examination contains two types of question:

(a) a compulsory question consisting of eight questions requiring short answers, of which the student must answer four; and

(b) seven or eight questions requiring longer answers of which the student must answer three. Students will be expected to answer questions on both micro and macro economics.

Copies of previous years' examination papers are available but the best guide to the examination material will be the class exercises undertaken over the year.