Economics 2

Module title	Economics 2
Module code	INT1205
Academic year	2022/3
Credits	15
Module staff	Dr Olayinka Oyekola (Convenor)

Duration: Term	1	2	3
Duration: Weeks		11

Number students taking module (anticipated)	20

Description - summary of the module content

Module description

This module continues to provide the introduction to economics for undergraduates started in the module Economics I. 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 course 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. Demonstrate comprehensive and detailed knowledge and understanding of main topics in introductory economic theory
2. Explain any basic problem in economics using diagrams and to some extent using Maths

ILO: Discipline-specific skills

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

3. Evaluate a piece of economic research
4. Explain and demonstrate an appreciation for the types of issues that economics can help address in our world
5. Develop the ability to collect informational resources including data and evaluate these resources

ILO: Personal and key skills

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

6. Develop independent study skills
7. Identify the essential elements of a problem and organise a way to think about it systematically
8. Demonstrate the ability to organise and process information through class preparation and participation using the technologies at hand

Syllabus plan

Economic fluctuations and unemployment

Unemployment and fiscal policy

Inflation, unemployment and monetary policy

Technological progress, employment and living standards in the long run

Capstone: The nation and the world economy

Race, Ethnicity and the Economy

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
55	95	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Lectures	22	Lectures cover all ILOs
Tutorials	33	Tutorials are classes that solve practical exercises and include more in depth discussion
Guided Independent Study	40	Preparation for Lectures and revision
Guided Independent Study	10	Homework tasks
Guided Independent Study	20	Assignments preparation
Guided Independent Study	25	Exam preparation and revisions

Assessment

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Tutorial questions	In class/homework	1-6	In-class feedback

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
40	60

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Individual Assignment	40	Report up to 3000 words	1-8	Online feedback on ELE
Final Examination	60	2 hours	1-8	Written feedback on formal application
	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
Individual Assignment	Individual assignment (up to 3000 words 40%)	1-8	Next assessment period
Final Examination	Examination (2 hours 60%)	1-8	Next assessment period

Re-assessment notes

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 referral 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.

Resources

Indicative learning resources - Web based and electronic resources

Web based and electronic resources:

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?

ELE – https://vle.exeter.ac.uk/course/view.php?id=8201

Module has an active ELE page

Key words search

economics, macroeconomics, public policy, inequality

Credit value	15
Module ECTS	7.5
Module pre-requisites	None
Module co-requisites	None
NQF level (module)	4
Available as distance learning?	No
Origin date	04/07/2019
Last revision date	15/07/2021