Level 1 Economics

Economics – a window on the world

Study Economics and learn about economic theory, develop your skills of logical thinking – and pick up some great interpersonal skills along the way!

Choice is at the heart of all decision-making. Individuals, businesses and governments are all faced with making choices in situations where resources are scarce. This is where a knowledge of Economics is vital.

Economics applies to most aspects of everyday life. By studying Economics you will examine topics of obvious importance to human well-being. Economics is applicable in a wide range of fields, including:

• Business
• Finance
• Administration
• Law
• Local and national government

 Understanding most current issues requires knowledge of Economics.

Economics provides a valuable set of intellectual skills

Economics is more than just a subject – it’s a way of thinking. It provides a logical way of looking at a variety of issues.

Practise the analytical techniques employed in Economics and learn to develop your:

• General literacy
• Communication and numeracy skills
• Skills of abstraction (balancing simplification against relevance)
• Skills of logical deduction
• Critical thinking

Studying Economics provides insights into:

• the general environment of resource allocation decisions
• opportunity costs and trade-offs
• project evaluation and government policy

These are crucially important in many areas. Often these insights are not obvious, and can be counter-intuitive to those who don't apply economic reasoning.

Economics graduates make great employees

In today’s working world, transferable skills and flexibility, together with strong personal characteristics, tend to be more important than specific training in a narrow, vocational area. Employers are particularly keen on workers with good analytical and problem-solving skills. Training in Economics emphasises these skills.