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TITLE Understanding Economics

LEVEL I - Introductory Level


DEPARTMENT Centre for the Liberal Arts and Sciences

DESCRIPTION The Unit will provide insights into the contrasts between rational expectations and behavioural economics. It will link history to the present and look at the challenges facing modern economies such as wealth creation and uncertainty.

The objective is for students to appreciate the relevance of Economics using a non-technical but insightful and innovative approach. Case studies of an international and local setting will help students understand both the concepts and the relevance of Economics.

The Unit will cover the following themes: (i) A historical perspective of the significance of Economics; (ii) Understanding how individuals and societies behave; (iii) The power of economic thinking and the questions that Economics asks; (iv) Globalization, markets and uncertainty and (v) The challenge of wealth creation and innovation.

Learning Outcomes:

1. Knowledge & Understanding:

By the end of the Unit the student will be able to understand better the key questions Economics asks, namely:
- Why is there poverty, when productivity rises?
- Why are willing, able workers unemployed?
- Why are there boom - bust cycles?
- Why does government always need more money?
- Is "economic growth" killing our planet?

2. Skills:

By the end of the Unit the student will be able to:
- Assess economic issues objectively and;
- Make well informed arguments about economic challenges and behaviour

Main Text/s and any supplementary readings:

- Maunder, P., Wall, N., Mayers, D. & LeRoy, R. (1992) Economics explained. 2nd edition. Collins edu., 590 pp.
- Miles, D. & Scott, A. (2005) Macroeconomics – understanding th wealth of nations. Wiley & Sons Inc., 594 pp.
- Williamson, J. & Millner, C. (1991)The World Economy – A text book in international economics. Cambridge Univ Press. 431 pp.


Assessment Component/s Resit Availability Weighting
Assignment Yes 100%

LECTURER/S Lino Briguglio
Marie Briguglio
Carl Camilleri
Ian Philip Cassar
Charmaine Portelli
Philip Von Brockdorff (Co-ord.)

The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the study-unit description above applies to the academic year 2017/8, if study-unit is available during this academic year, and may be subject to change in subsequent years.
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