Economics for beginners
Time: 18:00 - 19:30
This course will be delivered online. See the ‘What is the course about?’ section in course details for more information.
Course Code: HPC77
Duration: 5 sessions (over 5 weeks)
What is the course about?
Economics is the study of how people allocate scarce resources for production, distribution, and consumption, both individually and collectively. There are two major types of economics. Microeconomics focusing on the behaviour of consumers like us and producers such as businesses. Macroeconomics examines the economy as a whole on a regional, national, or international scale. Economics is especially concerned with efficiency in production and exchange and uses models and assumptions to understand how to create incentives and policies that will maximise efficiency.
This is a live online course. You will need:
- Internet connection. The classes work best with Chrome.
- A computer with microphone and camera is best (e.g. a PC/laptop/iMac/MacBook), or a tablet/iPad/smart phone/iPhone if you don't have a computer.
We will contact you with joining instructions before your course starts.
What will we cover?
In microeconomics, we will cover “the economic problem”, “production possibility frontiers”, different types of economic structures such as “free market” versus “command”. In macroeconomics we will cover “Economic growth”, “Inflation”, “Employment”, “Trade” and the role of the government as an economic agent for “good” or “bad”. We will also discuss the conflicts between macro objectives such as encouraging high growth which can lead to higher prices (inflation).
What will I achieve?
By the end of this course you should be able to...
-Analyse, assess and critically evaluate the state of the economy such as the impact of COVID 19.
-Develop your communication skills and have reasoned arguments of evaluating government policy and its impact on the economy.
-Problem-solve and debate economic solutions to economic challenges.
What level is the course and do I need any particular skills?
No previous knowledge is required as this is an introductory course. That being said, an interest in news and current affairs may prove helpful. Reading the Business and Economics news would also develop your learning and help you gain more from the course both in terms of enjoyment and learning outcomes.
How will I be taught, and will there be any work outside the class?
A mixture of lectures/ short presentations by the tutor, Q&A, and class discussions. A comprehensive bibliography will be given at the beginning of the course. Also, (brief) reading materials will be handed out at the end of each session. These will mostly cover issues raised in the class. While this supplementary reading is not a course requirement, course participants will benefit more from the course if they do some of the supplementary readings recommended by the course tutor. Please note, that as the course progresses, course participants are encouraged to take a more active part in the course – this will be achieved through a mixture of smaller group work but also class discussions.
Are there any other costs? Is there anything I need to bring?
Although you are not required to buy anything, you may wish to buy books, read articles online. However, please note that this is not necessary to follow the class as such.
When I've finished, what course can I do next?
HPC78 - Economics: what is capitalism?