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> ECON2548

New Directions in Economics

Module handbook

Download the module handbook [pdf]

Module purpose

The module builds on the introductory microeconomics and macroeconomics modules from first year. It develops a critical and contextual approach to economics that explores the new directions that the discipline is moving in and the (long-standing) critique of orthodox economic theory, although one that has been given much weight by the 2008 financial crisis and concerns about how economics is being taught.

As such, a variety of developing strands of economic theory will be explored – for instance, behavioural economics – with some assessment of the impact of these developments upon mainstream economic theory (typically neoclassical). One way of describing this is heterodox economics. The module draws on a range of contemporary economic issues, at a predominantly microeconomic level, and explores these through the lecture and seminar programme.

The purpose of the module is to provide insight to economic issues and the application of theory, and to reflect where the evolution of economic theory may be going. It should be noted that the module does not seek to cover every aspect that might be explored but will instead focus on a range of key concerns, reflecting the new directions that economics, as a discipline, is pursuing.