What will I learn in Economics?
Economics involves people and their choices. It helps people succeed – in work and in life. It helps people make the best use of scarce resources by choosing rightly while forgoing the next best alternative. Economics also provides you with a better understanding of how our dynamic and ever-changing world works. It offers an interesting insight into the pricing mechanism, consumer behaviour and the challenges and opportunities entrepreneurs experience. We need to be well informed about government decisions and policies and how they impact our way of living. During the 2-year course you will be equipped with tools and be able to analyse, criticise and evaluate issues such as employment, price stability, economic growth, supply-side policies, our welfare, and standard of living. Banking, the EU and our relationship within the international market are also explored. One may surely agree that Economics is not only interesting and intriguing but relevant and essential for your tomorrow.
How will I benefit from studying Economics?
Economics affects nearly all aspects of our lives. It is such a versatile subject and so widely used in day-to-day life. The following are ideas of how Economics equips you with skills that are needed in a variety of sectors and professions:
- Subject-specific skills – such as the application of economic theory, models and principles, financial markets and so on.
- Transferable skills – you will also gain other interpersonal skills that can transfer to many other subjects and professions. Some of these include:
- Communication – explaining information and presenting findings
- Numeracy – applying statistical analysis and simple mathematical methods
- Analytical thinking and Problem Solving – gathering of information, understanding data, making recommendations, and drawing conclusions. Such skills will allow you to succeed in a wide variety of careers such as law, actuary, finance, and foreign affairs.
- Time Management – Another essential skill for all individuals at any place of work.
- Critical thinking – the analysis of available economic data, providing one’s evidence and observations which lead to a conclusion and judgement.
An education in economics can improve your employability in a variety of industries such as finance, banking, insurance, politics, and healthcare administration.
By the end of the course, you will understand and appreciate how the economy works. You will also have acquired the basic skills to analyse and interpret real life situations, problems, and issues.
Are there any special considerations?
What textbooks and/or resources do I need?
Economics, John Sloman, Dean Garratt, Jon Guest, 10th Edition –
ISBN 9781292187853 (Print) | ISBN 9781292187907 (PDF) | ISBN 9781292187860 (ePub)
Extra Reference Books
Economics, Principles and Policy, Baumol and Blinder, International Edition (12th Ed.); ISBN10 0538453699; ISBN13 9780538453691
Stanlake’s Introductory Economics. Grant, S.J. (7th Ed.) – ISBN10 0582405483; ISBN13 9780582405486
Economics AS Level, Anderton, A. (5th Ed.) – ISBN10 1405892358; ISBN13 97814058923