Regulation, prices and markets

This unit will highlight topics and concepts of microeconomics and macroeconomics.

Microeconomics will cover: scarcity; economic choice; demand and supply analyses; market efficiency; consumer behaviour and elasticity; the theory of the firm; factors and costs of production; profit maximisation; types of market and competition.

Macroeconomics will cover: aggregate demand and supply; unemployment and inflation; the money market; the government budget balance; balance of payments; fiscal and monetary policies; the foreign exchange market and exchange rate policy.