Economics is concerned with the basic problem that faces all societies, namely that they have more wants than they have resources to satisfy those wants. The solution to this problem may be found in the use of prices and markets, or in central planning, or in a combination of the two systems. Economists examine questions about the level, growth and distribution of national income and wealth, the causes of inflation and unemployment, the labour market, economic problems of regions within the national economy, international trade, monetary problems, and energy and environmental issues. The economist's object is to analyse and explain these matters so that society and its individual members may tackle economic problems with understanding.

 There are no prerequisites laid down for the study of Economics. Intending students are sometimes concerned about the degree of mathematical skill required to study this subject. In fact, students with varying levels of numerical competence enter the course and due allowance is made for this during the first two years of study. The ability to think independently and critically, and to communicate in written form are equally important.

 Economics may be studied for one, two or three years within the MA degree, but many students of the subject wish to take the four-year honours MA in Economics (Economics Science) or Economics (Political Economy). There are joint honours programmes with Accountancy, Economic History, English, Finance, French, Geography, German, Hispanic Studies, History, International Relations, Mathematics, Management Studies, Philosophy, Politics, Property, Sociology, and Statistics. It may also be studied in combination with Women's Studies.

 Those who have successfully completed an MA honours degree in Economics, or a joint degree with another discipline, may continue to postgraduate study for a higher degree such as an MSc or a PhD.

 No distinction is made between students intending to take honours and those who do not intend to do so during the first two years of study. During that period, four modular courses are available.

 Level 1 Courses

EC1003 Microeconomics takes place in the first half session and assumes no prior knowledge of the subject. It studies the behaviour of the individual unit in the economy such as the consumer, worker or firm. It faces the fundamental economic problem that resources are scarce and that all the goods and services that might be desired cannot be provided.

These courses cover much of the same basic topics in Economics as the Level 1 courses, but in greater detail and with greater rigour. These courses provide those students who intend to take honours with the essential analytical tools that will be applied throughout the honours programme. The lecture content is closely related to problems in the real world, as in both the British economy and on the larger scale of the international economy.

 HONOURS

 There are two honours programmes that cater for different requirements. The honours programme in Economic (Economics Science) offers a high quality, technical programme that is suitable as a preparation for postgraduate study involving mathematically-oriented analysis. The honours programme in Economics (Political Economy) follows the long-established Scottish tradition in which economic problems are investigated within a variety of political, social and historical contexts, but out with the framework of mathematics. Both programmes seek to provide maximum choice to allow each student to focus on his/her particular interests.

 

 THE PROGRAMME OF COURSES

 

EC3001 Mathematical and Statistical Methods in Economics

EC3006 Development Economics

EC3008 Economics of Natural Resources and the Environment

EC3009 International Money

EC3015 Economics of Human Resource Management

EC3020 Methods and Practices of Economics

EC4001 Dissertation

EC3501 Monetary Economics

EC3502 Econometrics

EC3504 History of Economic Thought

EC3505 Industrial Economics

EC3507 Labour Market Economics

EC3509 Public Finance

EC3511 Regional and Urban Economics

EC3514 Microeconomics

EC3515 International Trade

EC3516 Operational Research

EC3518 Health Economics

EC3519 Economics of the Welfare State

EC3520 Macroeconomics

EC4501 Dissertation