Description
Introduction to Economics
| Module title | Introduction to Economics |
|---|---|
| Module code | INT0017 |
| Academic year | 2018/9 |
| Credits | 20 |
| Module staff | John Hoskin (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | Between 10-12 |
| Number students taking module (anticipated) | 150 |
|---|
Description - summary of the module content
Module description
This compulsory module explores the way in which individuals, organisations and governments exercise choice against the background of the scarcity of resources. Whilst the focus is on microeconomic principles and concepts, links to macroeconomics will be made where appropriate.
Microeconomics studies how individual units (a person, household, form or government) make economic decisions and how those decisions, coordinated by markets, affects the distribution and use of scarce resources. The module introduces students to key concepts and tools for undertaking and applying microeconomic analysis.
Module aims - intentions of the module
The aim of this module is to give the student an introduction to the core concepts of microeconomics.
The terminology of microeconomics will be presented in English and practised through listening, reading, speaking and writing.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Demonstrate an understanding of basic microeconomic concepts
- 2. Demonstrate the use of appropriate terminology
- 3. Demonstrate an understanding of concepts through numerical procedures and diagrams
- 4. Apply the economic way of thinking to understand microeconomic issues
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 5. Apply economic concepts to practical situations and topical issues
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 6. Engage in problem solving activities
- 7. Demonstrate basic written communication skills
Syllabus plan
Syllabus plan
1. Foundations of micreconomics
2. Demand, supply and the determination of price
3. Elasticity
4. The free market system
5. Intervening in the market
6. Short and long run costs
7. Revenues and profits
8. Market structures
9. Labour Market
Learning and teaching
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 60 | 140 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Classes | 60 | Input of concepts plus in class activities (individual, paired and group work) |
| Guided independent study | 140 | ELE resources consisting of concept & language resources, news articles, extension reading. |
Assessment
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Class tests | Variable | 1-7 | Verbal |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 20 | 80 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| On-line exercises | 20 | 10 weeks | 1-4 | On-line feedback |
| Final exam | 80 | 2 hours | 1-7 | Verbal feedback on formal submission. |
| 0 | ||||
| 0 | ||||
| 0 | ||||
| 0 |
Re-assessment
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Written Exam | Exam | As above | Prior to the APAC meeting for the cohort |
Re-assessment notes
RE-ASSESSMENT NOTES
Where a student has achieved a mark of less than 40% for the module, they will take a Referral Exam paper (2 hrs) covering all topics. The exam will be taken in the resit period before the APAC and will constitute 100% of the module grade. The grade for the referral exam will be capped at 40%.
Resources
Indicative learning resources - Basic reading
Basic reading:
Course textbook: Sloman, J. & Garratt, D (2016) Essentials of Economics (7th, Ed.). Harlow: Pearson Education Ltd.
Indicative learning resources - Web based and electronic resources
http://vle.exeter.ac.uk/course/view.php?id=1912
Module has an active ELE page
Indicative learning resources - Other resources
Economic Review Philip Allen; Hodder Education
| Credit value | 20 |
|---|---|
| Module ECTS | 10 |
| NQF level (module) | 3 |
| Available as distance learning? | No |
| Origin date | 01/09/2007 |
| Last revision date | 13/08/2018 |