Department of Economics
This is an introductory course in microeconomics and macroeconomics for those expecting to take further courses in economics.
Michaelmas Term: Supply and demand: consumer choice; characteristics of individual market demand; information & signalling; altruism & cooperation; theory of the firm; perfect competition, monopoly & price discrimination; externalities & property rights; public goods.
Lent Term: Measurement of the aggregate economy; money & inflation; trade & exchange rates; unemployment; economic fluctuations; stabilization policy; government debt; growth & development.
Note: Graduate Teaching Assistants (who are often PhD students) will teach classes on this course.