IS80161: Principles of Economics(ODeL)

The module covers a number of topics which will give a broad appreciation of a number of economic principles including the basic economic issue of resource allocation and scarcity. Alternative economic systems will be considered as well as supply, demand and elasticity concepts and market structures - perfect competition, monopoly, monopolistic competition and oligopoly. The module also examines the key issues of economic growth, inflation and unemployment and general macroeconomic policy. The module is a core module on the programme and forms a foundation for the business component of the programme.