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2011/2 Provisional Module Catalogue - UNDER CONSTRUCTION & SUBJECT TO CHANGE
 Module Code: ECO1014 Module Title: INTRODUCTORY ECONOMICS
Module Provider: Economics Short Name: ECO1014
Level: HE1 Module Co-ordinator:
Number of credits: 15 Number of ECTS credits: 7.5
 
Module Availability
Autumn
Assessment Pattern
Unit(s) of Assessment 

Weighting Towards Module Mark (%)
Coursework test 1

10
Coursework test 2

20
Coursework test 3

70

Qualifying Condition(s)
A weighted aggregate mark of 40% is required to pass the module
Module Overview
Thi modle introduces students to core elements of economic theory that will then form the basis of the Macro and Micro modules in the Spring Semester. A number of concepts, like specialisation, markets, competition, rational behaviour and the structure (and recent history) of the economy play a central role in both these modules and, as such, benefit from an initial degree of common study.
Prerequisites/Co-requisites
None
Module Aims
  • To introduce students to core elements of econoomic theory in order to prepare for the material in Micro 1 and Macro 2
  • To introduce students to the study of economics at a University level
Learning Outcomes

At the end of this module, students who have taken it seriously should be able to:-

  • explain the nature of economics and rational maximisation
  • explain why specialisation can enhance welfare
  • explain how markets can help allocate scarce resources
  • explain the effects of price ceilings, floors, taxes and subsidies
  • explain the features and outcomes of a competitive market
  • describe the recent performance of the UK and world economy
  • describe how economic welfare is measured and whether this captures 'happiness'
Module Content

Indicative module content will be as follows:-

  • the definition of economics and rational behaviour
  • specialisation and opportunity cost
  • markets, prices and elasticity
  • goverment intervention in the price system
  • the competitive firm
  • measuring economic welfare
  • the world economy: structure and performance
Methods of Teaching/Learning
Lectuers (11) and Workshops (5)
Selected Texts/Journals
Markiw and Taylor: Economics, 10th edition, pearson
Last Updated

10 March 2011