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Economics is a social science that studies how society manages its scarce resources. In this course, students will learn how to use resources more efficiently and how to allocate things in a manner that makes us all better off. All politicians and business people today use the language and ideas of economics. Economics is all around us and has become part of our everyday life. An understanding of the economic way of thinking and the principles of economics are essential for those who want to participate in a modern society.

Economic concepts and ideas are used in both business and government as the basis for much decision-making. This course introduces students to the main economic concepts and provides them with the opportunity to explore some of the key contemporary business and economic issues. Students not only learn the basic tenets of the discipline, but also able to relate these concepts to understand real-world problems through case studies. These case studies place students in real world situations requiring them to apply their theoretical understanding to explain and critically analyse these problems faced by business and economic managers in the 21st century. It covers both micro and macro economics.

On completion of this course students should be able to:

1. identify and interpret patterns evident in economic data presented in graphs and tables;
2. explain and apply key economic concepts to business and economic decision-making;
3. explain major problems faced by economic and business managers in the 21st Century;
4. evaluate selected instruments of microeconomic and macroeconomic policy;
5. apply academic research and writing, and critical analysis and thinking skills.