This module introduces students to the tools and concepts of economics, and their application to emerging economies and economic development. While core concepts of economic analysis apply at any level of development, the economies of low- and middle- income countries differ in important ways from those of rich developed countries. They tend to be more volatile, and have large informal and traditional sectors, numerous market frictions, limited financial markets, and high levels of inequality. In term 1, students will learn the analysis of goods and labour markets, including the roles of monopoly and competition, externalities, and other market imperfections. Term 2 completes the module, continuing with the analysis of market imperfections and introducing the finance sector and the relationships between unemployment, inflation, fiscal policy and interest rates in open economies.
*Please note that module information is indicative and may change from year to year.
Taught by: Sanchari Roy (Semester 1) and Paul Segal (Semester 2)
Terms 1 & 2
Module assessment - more information
1 x 1,500 Word Essay (25%); 1 x 1,500 Word Essay (25%); and 1 x 2 Hour Exam (50%)