• ECON 2601 Economics II, taught at the level of Varian (1992), i.e., the MSc version of the textbook, and Mankiw, NG (2003), Macroeconomics, 5th Edition

    Economics is the science of allocating scarce resources among competing social wants. Microeconomics describes how individuals and firms make informed tradeoffs between scarce alternatives in order to improve their well being. Macroeconomics, on the other hand, is the study of the economy as a whole in an attempt to explain aggregate trends. This intermediate course emphasises on understanding the main economic models thoroughly so that they may be applied to analyse real-world policymaking. While a mathematical approach is encouraged throughout, the main concepts are also illustrated graphically. Furthermore, emphasis is placed on the intuition be- hind the concepts to enable more profound understanding.