Units of Assessment

Weighting Towards Module Mark (%)

 

Examination (2 hours)

70%

Coursework tests

30%

Alternative Assessment

In the event of a student failing the coursework, unit of assessment tests similar to those taken during the programme will be set to be undertaken during the re-sit period.

Qualifying Condition(s) 

A weighted aggregated mark of 40% is required to pass the module.

This module is designed to enable the undergraduate student to have a good understanding of the application of economic principles to markets and economies.  This module will reinforce the principles of economics to enable the student to analyse historical behavior and to predict future behaviour given relevant data.  The module will be taught through a set of weekly lectures and tutorials.  Use will be made of up to date economic case studies for the tutorial sessions as part of the learning tool set.

This module will provide a firm understanding of the application of economic tools and concepts to economic problems.

 This module will enable the student to understand the behaviour of real markets and firms within them.

  This module will enable the student to understand economic policies used to control markets and economies.

By the end of the module students will:-

To understand and be able to use economic data.

 To understand and use a range of economic tools.

To be able to use economic concepts and methods to analyse and interpret real-world economic markets  and to assess issues of economic policy. 

Indicative topics:

Principles of Economics

 How markets work, market efficiency and economic welfare

 Elasticities

 Types of market structure and concordance with real markets with particular reference to imperfect markets.

 Factor Markets

 Public sector markets and the tax system

 Labour Markets

 Macroeconomic markets and data

 The economics of money and prices

 Open markets and interntional trade

 The management of economies

 Likely future economic pressures and their effects

A series of one to two-hour lectures supported by case studies and exercises.  Formative assessment will be through a series of exercises, based upon economic principles, designed to develop the student understanding and abilities. Summative assessment will be through coursework and examination.

 Lecture notes will be made available for each session and will be available on ULearn.

Total student learning time 100 hours. 

Assessment Strategy:

 The coursework will be composed of two in-course activities.  The first will be based upon  micro economics and the second will be based upon macro economics.  Each of them will take place in class time requiring a small number of questions to be addressed mirroring the format of the final examination.  It is expected that the questions used in each assignment will be part of a set given to the students 3 weeks prior to the assignment.  The student will not know which of the questions will be used. These questions will require an evaluative approach to the module content and satisfy the higher level elements of the learning outcomes. Both of these courseworks have the benefits of consolidating knowledge and allowing the student to plan how they will deal with the demands of the final examination. 

Essential text

 Mankiw, N.G., and Taylor , M.P., Economics. Thompson.

 Recommended reading:

Sloman, J.,  and  Wride, A.,  Economics. 7^th Edition. Prentice Hall.

Mankiw, N.G., Principles of Economics.  3^rd edition. Thompson.

Sloman, J., and Sutcliffe, M., Economics for Business.  Prentice Hall.

Background reading:

Begg, D.,  Foundations of Economics.  4^th Edition. Mcgraw Hill.

Levitt, S.D. , & Dubner, S.J., Freakonomics.  Penguin Books.

Levitt, S.D. , & Dubner, S.J., Super Freakonomics. Penguin Books.