Economics I

Module titleEconomics I
Module codeBEE1036
Academic year2019/0
Credits15
Module staff

Dr Graeme Pearce (Convenor)

Dr Sabrina Eisenbarth (Convenor)

Duration: Term123
Duration: Weeks

12

Number students taking module (anticipated)

300

Description - summary of the module content

Module description

This module provides the introduction to economics for undergraduates in the Department of Economics. It introduces the characteristics of economies using historical and cross-country comparisons across the major dimensions of economic performance (growth, inequality, stability).

By taking the main economic actors and showing how they make decisions, the module covers behaviour in goods, labour and credit markets, highlighting the role of the rules of the game (institutions), and showing the sources of market successes and market failures. Behaviour of households and firms is analysed in the economy as a whole, along with that of fiscal and monetary policy makers.

Module aims - intentions of the module

This module aims to provide students with a basic understanding of economics, and to apply this way of thinking to real world problems. It aims to help students understand the world around them, become more astute participants in the Economy and Society and help them understand Economic Policy so that they can better judge the decisions affecting the allocation of their society’s resources.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

  • 1. outline and apply the main topics in introductory economic theory
  • 2. explain any basic problem in economics using diagrams and to some extent using

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

  • 3. identify, present and explain standard theoretical economic models and apply them to analyses of economic questions and policy issues
  • 4. develop skills to undertake further economics, as this module is one of the building blocks to understand the subject

ILO: Personal and key skills

On successfully completing the module you will be able to...

  • 5. communicate concepts/definitions/arguments
  • 6. prepare for and meet strict deadlines

Syllabus plan

Syllabus plan

  • The Capitalist revolution
  • Technological change, population and growth
  • Scarcity, work and choice
  • Social interactions
  • Property and power: Mutual gains and conflict
  • The firm: Owners, managers and employees
  • The firm and its customers
  • Supply and demand: Price-taking and competitive markets
  • The Labour market: Wages, profits, and unemployment
  • Banks, money and the credit market
  • Price-setting, rent-seeking, and market dynamics
  • Markets, efficiency and public policy

Learning and teaching

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
32118

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Lectures22Lectures cover all ILOs
Tutorials10Tutorials are classes that solve practical exercises and include more in depth discussion
Guided independent study40Preparation for Lectures and revision
Guided independent study10Homework tasks
Guided independent study20Assignments preparation
Guided independent Study48Exam preparation and revisions

Assessment

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Tutorial QuestionsIn class1-6In-class feedback

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
20800

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Individual Assignment201500 words1-6Online feedback
Final Exam 802 hour1-6Final grade; Exam solutions will be posted on ELE

Re-assessment

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Individual assessment and Final ExamExamination (2 hours)1-6August reassessment period

Resources

Indicative learning resources - Basic reading

CORE’s  The Economy, available (for free) at: https://www.core-econ.org/

Doing Economics, available (for free) at: https://www.core-econ.org/doing-economics/index.html 

Module has an active ELE page

Credit value15
Module ECTS

7.5

Module co-requisites

BEE1024.

Cannot be taken with BEE1029 or BEE1034

NQF level (module)

4

Available as distance learning?

No

Origin date

11/03/2019

Last revision date

11/03/2019