There are no pre-requisites for this module to be added

The aim of the module is to provide students with a broad appreciation of a number of key economic principles.The module content includes:• the basic economic problem involving the issue of resource allocation and scarcity • consideration of alternative economic systems • supply, demand and elasticity concepts • market structures – perfect competition, monopoly, monopolistic competition and oligopoly • the key issues of economic growth, inflation and unemployment and general macroeconomic policy.In-sessional English support is integrated throughout delivery, with weekly pre-module sessions developing subject-specific vocabulary, lexis, and academic phrases, and post-module sessions providing consolidation through comprehension checks, summarising, and strategy-building activities. This wraparound model ensures learners can access, engage with, and reflect on content confidently while developing the language and academic skills necessary for progression.

Upon completion of this module you will be able to

LO1: Define the basic economic problem and comprehend alternative methods of dealing with the problem of scarcity

LO2: Explain the operation of markets using economic concepts

LO3: Describe the alternative models of market structures

LO4: Understand the role of government in the economy

LO5: Define the macroeconomic objectives of economic growth, inflation and unemployment.

LO6: Identify relevant policies relating to macroeconomic objectives