Module description
Societies today face a variety of complex and in some ways unprecedented challenges. More than ever before, economic prosperity and stability at the national and regional level is shaped by global events, processes, and crises. At the same time, advancements in AI and other technologies are fundamentally altering the complexion of economic life in many places. For citizens and policymakers alike, then, economic understanding has never been more important. In order to meet the challenges of the present age, high levels of economic literacy and imagination will be vital.
This module offers a foundation in economics that supports progression onto a range of KCL degrees, whether in economics, political economy, PPE, international development or other cognate disciplines. Covering the basics of microeconomics and macroeconomics, the module adopts a critical and pluralistic approach. This means that it aims to equip students with a solid understanding of basic economic theory whilst also engaging key criticisms and debates surrounding it, arising both within the discipline of economics itself and in the wider public sphere. Through this, the module seeks to develop an approach to economic understanding that is closely attuned to the issues and challenges that define the contemporary world.
This Economics module offers a grounding in economics that supports progression onto a range of degrees at King’s, across King’s Business School and the Faculty of Social Science & Public Policy. For example, you may progress to International Development BA, Political Economy BA/BSc or Politics BA/BSc.
If you choose the Economics module with the Maths for Business & Economics module then you can apply to degrees such as Economics BSc, Economics & Management BSc and Accounting & Finance BSc.
Assessment details
You’ll be assessed for this Economics Foundation module through a combination of coursework (60%) and final exam (40%).
Educational aims & objectives
This Economics Foundation module will:
- To provide students with an understanding of the main theoretical and functional areas of economics
- To develop an understanding of the key influences in the economic and social environment on the decision-making and behaviour of governments and organisations
- To ensure familiarity with some of the main sources of information and data bases for the study of economics
- To increase students' ability, with appropriate support, to take responsibility for their own learning
- To develop awareness of the distinctive nature of economic systems, particularly the UK, US, and the EU
- To provide an introduction to the main theories of economic intervention strategies
- To enable identification of the key challenges facing modern economies
- To develop awareness of current economic issue
Learning outcomes
By the end of this Economics Foundation module, you will be able to:
- explain a range of core economic terms, concepts, and theories
- demonstrate an "economic approach" to problems and issues
- recognise the role of ethical values in economic decision-making and organisation
- apply the basic concepts and tools of economic analysis to real-life issues.
Suggested reading list
During your course, you will be required to do a lot of reading. It is not necessary to purchase all books, but you should try and ensure you have access to the following:
- Stilwell, F. (2012) Political Economy: The Contest of Economic Ideas (Third Edition), Melbourne: Oxford University Press.
- Smith, P. and Dyer, S. (2019) OCR A Level Economics (Fourth Edition), London: Hodder Education.