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Introduction to Economics

Module titleIntroduction to Economics
Module codeINT0017
Academic year2021/2
Module staff

Emdad Aziz (Lecturer)

John Hoskin (Convenor)

Duration: Term123
Duration: Weeks



Number students taking module (anticipated)


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

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 ActivitiesGuided independent studyPlacement / study abroad

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled Learning and Teaching Activities (synchronous)40Lecture. Seminars - these will be teacher led. You should prepare for each seminar based on the related lecture.
Formative Assessment Activities20Working on case studies, problem solving activities, online activities
Guided independent study140ELE resources consisting of concept & language resources, news articles, extension reading.


Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Online tests; problem solving; case studies1-2 hours1-6Verbal and on ELE

Summative assessment (% of credit)

CourseworkWritten examsPractical exams

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Case Study and Assignment (open book)401800 words4, 5On-line feedback
Written Examination (open book)602 hours, online1-3, 6Verbal feedback on formal submission.


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

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Case Study and assignment (open book)Examination (open book, 4 hours, online)1-6Prior to the APAC meeting for the cohort
Written Examination (open book)Examination (open book, 4 hours, online)1-6Prior to the APAC meeting for the cohort

Re-assessment notes

Deferral – if you miss an assessment for reasons judged legitimate by the Mitigation Committee, the applicable assessment will normally be deferred. See ‘Details of reassessment’ for the form that assessment usually takes. When deferral occurs there is ordinarily no change to the overall weighting of that assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be required to take a re-sit exam. Only your performance in this exam will count towards your final module grade. A grade of 40% will be awarded if the examination is passed.


Indicative learning resources - Basic reading

Basic reading:

Course textbook: Sloman, J. & Garratt, D (2019) Essentials of Economics (8th, Ed.). Harlow: Pearson Education Ltd.

Indicative learning resources - Web based and electronic resources

Module has an active ELE page

Indicative learning resources - Other resources

Economic Review Philip Allen; Hodder Education

Key words search


Credit value20
Module ECTS


Module pre-requisites


Module co-requisites


NQF level (module)


Available as distance learning?


Origin date


Last revision date