Principles of Economics (Microeconomics)
| Module title | Principles of Economics (Microeconomics) |
|---|---|
| Module code | INT1013 |
| Academic year | 2025/6 |
| Credits | 15 |
| Module staff | Matthew Wilson (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 12 | 12 |
| Number students taking module (anticipated) | 210 |
|---|
Module description
Economics offers powerful insights into the world in which we live. This introductory economics course aims to provide an essential, simple, useable body of economic theory which will provide the basis for further study and equip students with a real understanding of the role of economics in business, public and private decision making. Students will be taught how to apply the theory to analysis of the real world.
This Module taken with INT1014 Macroeconomics is the equivalent of BEE 1029.No prior knowledge of economics is needed for this module.
Module aims - intentions of the module
The aim of this module is to provide an essential, simple, useable body of economic theory, which will both provide the basis for further study and equip students with a real understanding of the role of economics in business, public and private decision making. The students will go on to apply the theory to analysis of the real world.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Apply the economic way of thinking to enable you to understand microeconomic problems
- 2. Understand the concept of market failure and the effect governments can have on the provision and pricing of goods and services
- 3. Apply microeconomic models and make use of them in business contexts
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. Analyse and interpret current microeconomic problems using economic theory
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 5. Participate in problem solving activities
Syllabus plan
- Capitalism: Affluence, inequality, and the environment.
- Social interactions and economic outcomes
- Public policy for fairness and efficiency.
- Work, wellbeing, and scarcity.
- Institutions, power, and inequality
- The firm: Employees, managers, and owners
- Firms and markets for goods and services
- The credit market: Borrowers, lenders, and the rate of interest
- Banks, money, housing, and financial assets
- Market failures and government policy
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 40 | 110 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Lectures | 10 | On campus: face to Face Lectures, Workshop activities and case studies. |
| Seminars | 30 | These will be teacher led. You should prepare for each seminar based on the related (weekly) Lecture. Working on case-studies, worksheets and problem-solving activities. |
| MCQ (Formative & Summative) Tests | 6 | Assessed weekly 30-minute tests |
| Guided Independent study | 104 | Reading and research, group work and research: practice of techniques: web-based activities. |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Case studies, group weekly online coursework practice | 1-2 hours | 1-5 | Written and verbal |
| Mock Examination | 2 Hours | 1-5 | Written and suggested solutions given |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 40 | 60 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Written examination | 60 | 2 hours | 1, 2, 3 & 4 | Performance Outcome |
| Coursework | 40 | 4 Online Quizzes | 1,2,3,4,5 | Written and verbal |
| 0 | ||||
| 0 | ||||
| 0 | ||||
| 0 |
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 |
|---|---|---|---|
| Coursework | Deferral | 1-5 | Next assessment opportunity |
| Examination | Deferral | 1,2,3&4 | Next assessment opportunity |
| Examination | Referral | 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 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.
Indicative learning resources - Basic reading
Basic reading:
CORE’s Economy, Society, and Public Policy, available (for free) at: https://www.core-econ.org/espp/
Indicative learning resources - Web based and electronic resources
Web based and electronic resources:
- ELE (Exeter Learning Environment (Moodle)) – http://vle.exeter.ac.uk/course/view.php?id=4499
Indicative learning resources - Other resources
Other resources:
| 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 | 8/6/2015 |
| Last revision date | 23/5/2025 |
