Aims: To review microeconomic concepts and models relevant to understanding how economists analyse problems of scarcity.
To review macroeconomic concepts and policies, including theories of economic growth with particular reference to low and middle-income countries.
To assess the strengths and weaknesses of economic reasoning, particularly in relation to other social science perspectives.
To be familiar with the language and methodology employed by economists.
To understand the strengths and weaknesses of economic explanations of development and underdevelopment at local, global and international levels.
To understand how (and how far) professional economists can contribute to in forming specific local, national and international policy issues, and to formulating strategies for promoting sustainable development at these levels.
Comprehensive and scholarly written communication (e.g. essays) (Taught/Facilitated/Assessed).
Ability to select, analyse and present numerical data (T/F/A).
Ability to select, summarise and synthesis written information from multiple sources (T/F/A).
Ability to develop rigorous arguments through precise use of concepts and models (T/F/A).
Ability to select and use appropriate ideas to produce a coherent response to a pre-set question (T/F/A).
Ability to formulate a research question, then develop and present an original & coherent answer (T/F/A).
Ability to produce work to agreed specifications and deadlines (T/F/A).
Ability to work independently, without close supervision of guidance (T/F/A).
The foundations of economics: economic methodology; demand theory; production theory; market structure and capitalist dynamics; meso, multi-market and macro models; Institutional economics, and applied welfare economics (including an introduction to cost benefit analysis); market failures and state intervention; basic concepts of macroeconomics and determinants of aggregate demand; fiscal and monetary policy; open economy macroeconomics; classical, neoclassical and new growth theory and its critics; trade strategies; debt stabilisation and structural adjustment.