Teaching Responsibility
LJMU Schools involved in Delivery:
LJMU Partner Taught
Learning Methods
Lecture
Online
Seminar
Module Offerings
4603DGABW-SEP-PAR
Aims
To introduce students to economic ideas and their relevance to business decisions.
Learning Outcomes
1.
Describe how markets work and the conditions that lead to market failure
2.
Explain how competition between firms affects business behaviour
3.
Describe the main macroeconomic objectives and policy options for achieving them
Module Content
Outline Syllabus:Economic systems and the importance of prices
Demand, supply, elasticity
Market structures
The labour market and minimum wages
Market failure and the rationale for government intervention in markets
Macroeconomic policy objectives
Economic growth: what it is, why it matters and policy alternatives
Unemployment: what it is, why it matters and policy alternatives
Inflation: what it is, why it matters and policy alternatives
International trade and exchange rate systems
Additional Information:This module has been designed to introduce students to economic ideas and to demonstrate the importance of economics for business.