A degree in Economics develops students understanding of economics and gives them an important insight into topical issues. Upon completing this course, students will learn what is the government's role in making economic policy, what choices and constraints influence political and everyday decision making and how to do markets work.
The course has three main objectives, to explain, understand and analyze. Students are taught how a person makes the balanced choice between the accessible alternatives. How we understand the nature of social institutions such as markets and firms. Students are also taught how institutions and individuals discuss to produce outcomes for society as a whole.
Economics at Cambridge lays emphasis upon giving students thorough understanding of the subject. However, students who specialize in this subject may enable them to concentrate on studying economics in substantial depth. The economists require employing modes of techniques and thought drawn from various other disciplines among them sociology, history, statistics, mathematics and philosophy.
Nature of The Course
The course is well designed and modified with the purpose of providing students high standard education. The course incorporates so many different things. Upon completing the course, students become well rounded persons. The primary aim of the course is to develop students' knowledge of the workings of economic systems. It lays emphasis upon a sense of economic width of political and social issues.
By accumulating an intensive range of theoretical insights with experimental observation, the study of economics enables students to apply their understanding and knowledge to the practical issues. These issues are arisen in the formulation of social and economic policy, financial and industrial management and various other realms of life. The economics graduates are well qualified for a broad range of jobs and other courses.
Faculty Resources and Teaching
The Cambridge economic faculty is one of the best and largest in the United Kingdom. There are many economic experts who contributed to the development of the subject. Some of the notable faculties and outstanding economists may include John Maynard Keynes and Alfred Marshall and may others. These economists have spent an extensive amount of time as members of faculty.
The faculty member, Professor Amartya Sen, was awarded the Nobel Prize in 1998 for his work on welfare economics and income distribution. Another faculty, Professor James Mirrlees, was awarded a Nobel Prize in Economics for his work on optimal taxation and the theory of incentives in 1996. Therefore, the economics faculties are experts and dedicated to their work. They give students complete understanding of the subject.
The current faculty continues its long-established internet in macroeconomics, public economics, economic theory and regulation and competition econometrics. The research and teaching staff members are invited a broad range of research projects.