Centre for Financial
& Management Studies (CeFiMS) - University of London
PG Diploma in Economic
Principles
For the PG Diploma, students
are required to take all four courses from the list offered.
Microeconomic theory and applications
Macroeconomic principles and
issues
International Economics
Mathematics and statistics
for economists
Detailed Syllabus
EP101
Microeconomic theory and applications
This course is
designed to provide a solid grounding in microeconomic theory - a body
of knowledge which focuses on the behaviour of individual units in a
market economy. The course is about the economic principles underlying
the theories of market demand and supply. It develops models to
explain economic behaviour of consumers and producers and the ways in
which they interact in a market economy. By the end of the course,
students will have covered the four main topics needed to understand
the basis of microeconomic theory: the basic concepts of the market,
demand, supply and equilibrium; the principles underlying consumer
demand; the principles underpinning the theory of the firm; and the
concept of market structures, especially competitive and monopolistic
markets.[Top]
EP102
Macroeconomic principles and issues
Macroeconomic
principles and issues is concerned with the economic principles used
to model the economy as a whole. It is designed to teach the tools and
techniques for analysing aggregate economic behaviour and policy
formulation in a market economy. The types of questions students will
consider are those relating to headline economic issues of inflation,
unemployment, economic growth, money supply, government deficits and
interest rates. The unit teaches and analyses economic models designed
to answer questions such as how inflation is to be explained, what
determines economic growth, why there are periods of sustained
unemployment, what determines the rate of interest, and how monetary
and fiscal policies affect the economy.
[Top]
EP103
International economics
This course is
concerned with the economic principles used to model a country's
international relationships. The course aims to teach the tools and
techniques for analysing the trade and money transactions between
economies and for assessing their policy implications. International
economics builds on the theories and models of macroeconomics and
microeconomics in order to develop a new set of economic principles
which apply to an economy's international trade and money
relationships. Questions and subject areas addressed in the course
include: why do countries trade and who gains from trade; how can
patterns of trade be explained; the arguments for and against free
trade versus protectionism; the implications of economic integration
between countries; the relationship between international trade and
economic development; how foreign exchange rates are determined; why
there can be persistent deficits or surpluses in the balance of
payments; why one country's macroeconomic policies can affect
another's economic performance; and what is international money.
[Top]
EP104
Mathematics and statistics for economists
The topics covered
in this course include differential calculus, maximisation subject
to constraints, frequency distributions, probability theory and
hypothesis testing. These techniques are taught with reference to
their applications to economic principles. Because the key to
success in understanding mathematical techniques is practice, the
course provides a wide range of problems for solution, as well as
the theoretical foundations of their uses in economics, and includes
appropriate exercises. The course aims to provide students with the
necessary background for advanced study in market economics and
econometrics. It should also enable them to use basic mathematical
and statistical techniques for economic analysis.
