In studying economics you will learn how individuals and society make choices about how scarce resources are used, what products are produced and who gets to consume them. These choices depend on evaluating costs, benefits, risks and effects on others. Economics at Glasgow dates back to Adam Smith, who was a Professor at the University in the 18th century and is widely renowned as the father of modern economics. You will study the principles of microeconomics and macroeconomics and will have the opportunity to develop an interest in fields such as government policy, developing countries, the economics of business, and international trade and finance. In first year you will study: Introduction to the market mechanism, International trade, Economic development, Macroeconomics,Macroeconomic policy in an open economy, Introductory mathematical economics. In second year you will study: Intermediate macroeconomics, Intermediate microeconomics,Introduction to mathematical economics, Economic data analysis. Students who qualify for Honours (years 3 and 4) will take courses in microeconomic analysis and macroeconomic analysis. You will also have the opportunity to take courses in econometrics, which involves the statistical techniques of economic analysis. There is a wide range of optional courses which put the skills you have developed into action, such as the Economics of Poverty, Discrimination and Development, Financial Markets and Asset Pricing, Financial Markets and Corporate Finance, Environmental Economics, Economics of Team Sport, Public Economics, Mathematical Methods, Economics of Banking, Behavioural Economics, Economics of Health, History of Economic Thought and Alternative Perspectives on Topics in Economics.