HP6P 48 Economics 1: Micro and Macro Theory and Application

This Unit is designed to build on candidates’ knowledge of introductory economics and expose them to microeconomic and macroeconomic applications of theory. The Unit allows the introduction of current issues in economics and provides an opportunity for candidates to analyse and evaluate these issues.
On completion of the Unit the candidate should be able to:

1 Explain the costs of the firm and the market structures within which firms operate.
2 Analyse the impact of unemployment and inflation.
3 Evaluate government macroeconomic policy.