Economics 2
| Module title | Economics 2 |
|---|---|
| Module code | INT1205 |
| Academic year | 2025/6 |
| Credits | 15 |
| Module staff |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 20 |
|---|
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. Critically analyse and 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 to address economic challenges
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. Apply collaborative and teamwork skills to solve a group task
Syllabus plan
- The supply side of the macroeconomy: Unemployment and real wages
- Unemployment, wages, and inequality: Supply side policies and institutions
- Aggregate demand and the multiplier model
- Inflation and unemployment
- Macroeconomic policy: Inflation and unemployment
- Economic dynamics: Financial and environmental crises
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 55 | 95 |
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 | 50 | Preparation for Lectures and revision |
| Guided Independent Study | 10 | Homework tasks |
| Guided Independent Study | 20 | Assignment preparation |
| Guided Independent Study | 25 | Exam preparation and revisions |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Tutorial questions | In class/homework | 1-7 | In-class feedback |
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 |
|---|---|---|---|---|
| Coursework | 20 | Up to 750 words | 1-7 | Final grade and online feedback on ELE |
| Final Exam | 80 | 2 hours | 1-7 | via SRS; feedback and indicative solutions on ELE |
| 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 | Coursework (up to 750 words, 20%) (deferral) | 1-7 | Next assessment opportunity |
| Final Exam | Examination (2 hours, 80%) (deferral) | 1-7 | Next assessment opportunity |
| N/A | Referral Exam | 1-7 | Next assessment opportunity |
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.
Indicative learning resources - Web based and electronic resources
Web based and electronic resources:
- CORE’s The Economy 2.0 Macroeconomics, available (for free) at: https://www.core-econ.org/
- ELE – https://ele.exeter.ac.uk
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | INT1204 |
| Module co-requisites | None |
| NQF level (module) | 4 |
| Available as distance learning? | No |
| Origin date | 04/07/2019 |
| Last revision date | 22/05/2025 |
