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Economics II

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. 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 activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

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

Re-assessment notes

Deferred assessment is similar to the original form of assessment. Referred assignment is based on either the component or components of the original form of assessment referred. 

Indicative learning resources - Basic reading

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 

Key words search

Introductory Economics