BS1547: Introduction to Economics - at Cardiff University

The BS1547: Introduction to Economics module provides business management and accounting students with a foundational understanding of economics, emphasising its relevance to real-world challenges. Designed for those with little or no prior knowledge of the subject, it explores individual and firm-level interactions through key microeconomic concepts like opportunity cost, scarcity, supply and demand, elasticity, and game theory, while also examining broader national and global economic issues. Students will gain insights into the motivations of private-sector firms, the role of institutions, and the importance of money and financial systems. The module also addresses the impact of fiscal and monetary policy on economic activity, the drivers of long-term growth, and critical macroeconomic policy debates, particularly in light of the global financial crisis. By the end of the course, students will understand how economics informs strategic decision-making and its significance for addressing challenges in business and accounting contexts.