Stage 2 Economics
Course Length: 20-credit
Learning Area: Humanities and Social Sciences
Where does it lead?
Economics provides an excellent foundation for those students who wish to pursue studies in Business at the tertiary level. It is also useful for any course in which decision making, or an understanding of local or global economic issues is important. It develops skills of analysis and critical thinking and enables students to make informed economic choices. The study of Economics at tertiary level could lead to positions as diverse as the formulation of economic policy, industrial relations, advising developing economies or environmental economics.
What is in the course?
The course aims to develop an understanding of basic economic concepts, with an emphasis on current economic events. It seeks to explore the interdependence between economic, social and political factors and underlines the important realisation that all economic decisions involve costs and benefits. Communication of ideas is seen as a vital part of this subject. Specifically, the course explores the economic problem, which underpins economic decision making and the key concepts of demand and supply. It also considers how markets operate in practice, and the economic goals of governments and how these are measured. Total demand and supply in the economy and their impact on government goals, as well as the economic policies available to the government to manipulate economic activity, are considered. Globalisation issues such as free trade, foreign investment and poverty are also studied.
- Skills and Applications Tasks