UNIVERSITY OF LEEDS 
LUBS1951: Economic Theory and Applications 
Comprehensive Study and Exam Preparation Guide 2025 
 
Part 01: About This Guide 
Part 02: Sample Final Examination Paper 
Part 03: Detailed Solutions and Explanations 
Part 04: Proven Exam Strategies and Tips 
 
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University of Leeds - Economic Theory and Applications (LUBS1951)

£35.00

ACADEMIC YEAR 2024 - 2025

University	University of Leeds
Module Code	LUBS1950
Credit Value	30
Module Name	Economic Theory and Applications
Notes Title	Comprehensive Study and Exam Prep. Guide
Format	PDF
Page Length	30

This comprehensive guide helps you understand how the final examination for LUBS1951: Economic Theory and Applications at the University of Leeds in 2025 will be assessed and structured, along with the likely style and range of questions that may be asked. This self-study set has been updated to cover all the topics contained in the latest edition of the exam. You do not need to be an expert in the module, you just need a basic understanding and be able to quickly recall the information that you learn. You can use these notes as a reference, to understand the topics better and improve your grades in the final exam.

This module gives an introduction to the economic understanding of the world of individual choice, business behaviour, national level economic systems and government economic policy. This module will introduce economic models and understanding of relevant data to understand economic issues. This module also introduces Microsoft Excel skills allowing for basic data manipulation and analysis.

Syllabus:

Microeconomic analysis of a pure exchange economy using indifference curve analysis and the Edgeworth-Bowley box framework
Concepts of scarcity, preference and choice, demand, supply, exchange, and equilibrium prices using these tools
Production and supply in a production economy in partial equilibrium
Pareto optimality and market failure in a general equilibrium framework
Concepts from behavioural economics
The concepts and analytical procedures of macroeconomic theory: a simplified two-sector model of the economy, the autonomous expenditure multiplier, and conditions for equilibrium
Understanding of government and foreign trade sectors, and money and price-level inflation
The role of expectations and investment
Fluctuations in the level of economic activity and the efficacy of fiscal and monetary policy
Data analysis skills in Microsoft Excel for economic relevant data

Mutually Exclusive: LUBS1940, LUBS1952.

MODULE CODE	MODULE NAME
LUBS1035	Foundations of Finance
LUBS1036	Introduction to Finance
LUBS1225	Accounting for Managers
LUBS1235	Introductory Financial Accounting
LUBS1285	Mathematics and Statistics for Economics and Business 1B
LUBS1915	Introduction to Financial Accounting
LUBS1940	Economics for Management
LUBS2205	Corporate Finance
LUBS2206	Corporate Financial Management
LUBS2290	Intermediate Financial Accounting
LUBS2291	Financial Accounting and Reporting
LUBS2295	Intermediate Management Accounting
LUBS2575	Statistics and Econometrics
LUBS2610	Intermediate Macroeconomics
LUBS2850	Marketing
LUBS3160	Financial Derivatives
LUBS3370	Applied Econometrics
LUBS3620	International Business Finance
LUBS3645	Advanced Finance

University of Leeds - Economic Theory and Applications (LUBS1951)

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