University of Bristol - ECON10001: Economics

This unit, Economics (ECON10001) - provides an analytical introduction to the core concepts and tools of modern economics. Starting from historical and cross-country comparisons, students will learn the role economic analysis can play in understanding different dimensions of modern economies. The unit covers the behaviour of economic actors in the goods, labour and credit market and analyses how institutions and policy shape economic outcomes. It shows when markets can successfully organise economic activity and discusses under which circumstances they fail to do so. The unit will also study the determination of key economic variables such as GDP, unemployment, inequality and inflation as well as aspects of monetary and fiscal policy and the global economy.

By the end of this unit, you will be able to:

• understand and make appropriate use of graphical and mathematical models as well as historically and methodologically informed narrative to explain economic behaviour as well as current and past events in economics;
• discuss a wide variety of economic situations by analysing the objectives and constraints of various decision makers - including individuals, households, firms, communities, unions, governments;
• be able to explain and use important micro and macroeconomic concepts;
• describe main empirical regularities and make economic judgements based on simple data analysis;
• explain the contributions that economic analysis can make to addressing some problems of current concern such as inequality, poverty, unemployment, pollution, climate change, financial and economic crises; and,
• appropriately communicate economics to expert and non-expert audiences.