The course introduces the main principles of economics and briefly reviews the development of ideas in the discipline. It provides a foundation understanding of the economic environment in which organisations conduct business with particular reference to market forces, international trade and the role of government. Building on work in the integrating core, students will learn how economics models individual, firm and social behaviour, and how economic thinking has changed. Specific topics for study include individual and market demand; opportunity cost, profit and supply; price determination; comparative advantage and trade; an overview of the macroeconomy; and the economic impact of government.