Professor F Caselli,CEP R402b, Professor G. Ottaviano, CEP R402a

Compulsory for BSc Accounting and Finance, BSc Actuarial Science, BSc Econometrics and Mathematical Economics, BSc Mathematics with Economics, BSc Economic History with Economics, BSc Economics, BSc Economics and Economic History, BSc Economics with Economic History, BSc Environmental Policy with Economics, BSc Environment and Development, BSc Geography with Economics, BSc Government and Economics, BSc Management, BSc Mathematics and Economics, BSc Mathematics with Economics, BSc Philosophy and Economics, BSc Social Policy and Economics and BSc Statistics with Finance. Optional for BSc Business Mathematics and Statistics, BSc Economic History, BSc Environmental Policy, BSc Human Resource Management and Employment Relations, BSc Industrial Relations and Human Resource Management, BSc Management Sciences and BSc Social Policy. Available as an outside option.

This is an introductory course in microeconomics and macroeconomics for those expecting to take further courses in economics. Knowledge of A-level economics is an advantage, while some knowledge of mathematics (eg elementary calculus) is strongly recommended. Students without a mathematical background need to take an introductory mathematics course, such as Basic Quantitative Methods, at the same time. EC102 is unavailable to anyone who has passed Economics A.

Part A Consumer and Producer Theory; Competitive Model; Welfare and Market failures; Monopoly, oligopoly and monopolistic competition; Game Theory; Missing markets .

Part B Measurement of the aggregate economy; money and inflation; trade and exchange rates; unemployment; economic fluctuations; stabilization policy; growth and development.

Lectures EC102: 20 MT and 20 LT

Classes EC102.A: 20 Sessional.

Two problem sets in MT and two problem sets in LT.

Part A: Morgan W., M. Katz and H. Rosen (2009) Microeconomics, 2nd edition, McGraw-Hill.

Part B: N Gregory Mankiw, Macroeconomics, Worth, 2010.

A three-hour written examination in the ST, based on the full syllabus of parts A and B of the course.