This unit is an introduction to the fundamental principles and concepts in modern microeconomics and macroeconomics. On microeconomics, the unit introduces students to the behaviour of individuals and firms; the operation of markets, the efficiency and inherent failings of markets, and the role of government. On macroeconomics, this unit focuses on key macroeconomic problems such as recessions, inflation and unemployment, balance of payments, as well as contemporary fiscal and monetary policies. The principles and concepts are illuminated via application of economics tools to contemporary economic issues and debates over different theoretical perspectives.
- Lecturer: Jaswinder Chawla