Economics

Module title	Economics
Module code	INT0059
Academic year	2021/2
Credits	30
Module staff	Emdad Aziz (Convenor)

Duration: Term	1	2	3
Duration: Weeks	13	13

Description - summary of the module content

Module description

This economics module introduces you to economic concepts enabling you to think about the world differently, helping you to make sense of the decisions people, businesses and governments take, this makes economics relevant to everyone, whether you intend to use this as a basis for future study or are studying this module out of interest, The lectures aim to introduce the theoretical concepts and procedures of both micro-economics and macro-economics. Seminars will enable a student to apply their knowledge to explore economic case studies and analyse economic data.

Module aims - intentions of the module

The aim of this module is to provide an introduction to core concepts of micro-economics and macro-economics. You will be supported to apply knowledge to analyse economic situations, both micro and macro.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

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

1. Demonstrate an awareness of basic micro-economic concepts about scarce resources and choices that must be made in societies
2. Demonstrate an awareness of basic macro-economic theories and policy in relation to the economy as a whole
3. Demonstrate an awareness of different market structures
4. Gain an understanding of different economic systems
5. Demonstrate use of economic terminology and techniques to solve problems

ILO: Discipline-specific skills

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

6. With guidance, analyse, synthesise micro-economic and macro-economic data
7. Demonstrate awareness of a range of economic policies and their impact

ILO: Personal and key skills

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

8. Developing confidence with numerical procedures
9. Communicating information effectively using written communication and relevant diagrams

Syllabus plan

Micro-economics – Markets, demand and supply
Micro-economics – Markets in Action
Micro-economics – The supply decision
Micro-economics – Market structures
Macro-economics – Aggregate demand and the business cycle
Macro-economics – Aggregate supply and economic growth
Macro-economics – The financial system, money and interest rates
Macro-economics Output, unemployment and inflation
Macro-economics Macroeconomic policy
Macro-economics Balance of payments and exchange rates

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
90	210	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Scheduled Learning and Teaching Activities (Synchronous)	60	Lecture (synchronous) Seminars these will be teacher led. You should prepare for each seminar based on the related lecture.
Formative Assessed Activities (Asynchronous)	30	Working on problem-solving activities, economic case studies and online activities
Guided Independent Study	210	ELE resources consisting of directed research activities, business case studies, problem solving

Assessment

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Class tests, case studies and problem solving activities	1-2 hours	1-9	Answers on ELE, marked work from teacher Verbal feedback
Online tests	1-2 hours	1-3, 8, 9	Answers and automatic, computer generated feedback and marks

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
50	50	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Micro-Economic - Individual Report	30	1500 words	1, 3, 5, 6, 9	Feedback, examiner report, individual feedback on request
Macro-Economics Paired Work Presentation	20	Individual presentation (10 minutes per group member including examiner questions)	2, 4-7	Feedback, examiner report, group feedback on request
Written Examination (open book)	50	2 hour exam paper	1, 2, 5, 8	Performance outcomes

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 Examination (open book)	2 hour exam paper	1-9	Next assessment opportunity

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 re-assessment’ 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 (ie a final overall mark of less than 40% achieved) you will be required to take a re-sit exam (open book). 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.

Resources

Indicative learning resources - Basic reading

Essentials of Economics (8th Edn.) Sloman, J. & Garratt, D. Pearson

Indicative learning resources - Web based and electronic resources

https://vle.exeter.ac.uk/course/view.php?id=12912

Module has an active ELE page

Indicative learning resources - Other resources

Electronic case studies
Economic data
Online resources

Key words search

Financial accounting, management accounting, finance

Credit value	30
Module ECTS	15
Module pre-requisites	N/A
Module co-requisites	N/A
NQF level (module)	3
Available as distance learning?	Yes
Origin date	11/11/2020
Last revision date	12/08/2021