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Macroeconomics

 

 

 

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Economics Centre

 

Rationale

Economics (from the Greek οίκος [oikos], 'family, household, estate', and νομος [nomos], 'custom, law', hence "household management" and "management of the state") is a social science that typically studies the production, distribution, and consumption of goods and services. Since the early part of the 20th century, economics has focused largely on measurable variables, and employed both theoretical models and empirical analysis[1]. Economic logic is increasingly applied to any problem determining economic value (such as politics, religion, psychology, history and dating). A professional working in economics or having an academic degree in the subject is an economist.

 

Microeconomics for Planners

 

The subject is broadly divided into two main branches: microeconomics, which deals with individual agents, such as households and businesses, and macroeconomics, which considers the economy as a whole. An alternate division of the subject distinguishes positive economics, which tries objectively to predict and explain economic phenomena, from normative economics, which recommends one choice over another—such recommendations often involve subjective value judgments.

The mainstream economic paradigm is a combination of neoclassical economics and Keynesian macroeconomics. Crucial assumptions of this paradigm include the idea that resources are scarce while wants are unlimited, which is sometimes characterized as the economic problem, and an understanding that the value of most goods can be represented in terms of their open-market price. Various schools of heterodox economics, for instance socialist economics, green economics and associative economics, seek to explain economic phenomena using different basic assumptions, for example by emphasising that economics is primarily concerned with exchanges of values.

 

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Circulation in Macroeconomics

 



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Module Structure

 

Module Structure

 

Programmes, Teaching and Learning

Select your Programmes, Teaching and Learning Guides for Economics Related Programmes and Modules below:

 

BA/BA (Hons) Business Administration

Certificate in Business Administration

 

Diploma in Business Administration

 

BA/BA (Hons) Business Studies

Certificate in Business Business Studies

 

Diploma in Business Business Studies (Marketing Option)

 

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Select your Economics Related Teaching and/or Learning Contents and Workshops below:

 

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Select your Foundation Programmes and Teaching and Learning Guides form Foundation Centre.

 

Recommended Texts

 

Managerial Economics: An Analysis of Business Issues

Managerial Economics: An Analysis of Business Issues,
Third Edition, Howard Davies & Pun-Lee Lam

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Industrial Economics

Industrial Economics and Organization: A European Perspective, 2/e

Bernadette Andreosso
David Jacobson

ISBN: 0077104226
Copyright year: 2005

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Organisational Architecture

Managerial Economics and Organisational Architecture, 3/e

James Brickley, University of Rochester
Clifford Smith, University of Rochester
Jerold Zimmerman, University of Rochester

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Macroeconomics

Macroeconomics

R. Glenn Hubbard, Columbia University
Anthony P. O'Brien, Lehigh University

ISBN: 0-13-034825-2
Publisher: Prentice Hall
Copyright: 2006
Format: Paper; 648 pp

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Distributed Intelligence

 

Further Readings

 

Student Mathematics and Economics Association

 

 

 

 

 

Nation Master

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