Gwybodaeth Modiwlau

Module Identifier
EC10120
Module Title
Economic Principles and Skills 1
Academic Year
2016/2017
Co-ordinator
Dr Shafiul Azam
Semester
Semester 1
Co-Requisite
MA12610 (unless exempted)
Mutually Exclusive
EC10510
Other Staff
 

Course Delivery

Delivery Type Delivery length / details
Tutorial 10 x 1 Hour Tutorials
Lecture 33 x 1 Hour Lectures
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Exam 2 Hours   Unseen written examination  70%
Semester Assessment Assessment 1  10%
Semester Assessment Assessment 2  10%
Semester Assessment Tutorial attendance and completion of prescribed exercises  10%
Supplementary Exam 2 Hours   Unseen written examination  100%

Learning Outcomes

On successful completion of this module students should be able to:

  • Explain how markets coordinate economic activity and produce equilibrium prices and quantities;

* Assess the mutual benefit from trade between individuals and between countries;

* Describe optimising behaviour by households and firms;

* Discuss the effects of alternative market structures and evaluate market outcomes for policy purposes;

* Identify quantitative relationships and the formulae underlying models;

* Develop the ability to follow logical arguments;

* Have enhanced capacity to recognise and solve problems.

Aims

To introduce students to the principles underlying economics, using illustrations from the study of markets and the macroeconomy.

Brief description

This modules introduces students to the fundamental principles underlying microeconomics and macroeconomics. It provides key analytical concepts and helps to develop the skills, knowledge and understanding required to work in management and business from a specialist perspective, for students taking single, major or joint honours Economics, Business Economics and Business Finance.

Content

  • Introductory Microeconomics
  • What is Economics?
  • Demand and Supply
  • Government Intervention in Markets
  • Measuring the Efficiency of Markets
  • Goods which Impose Costs on Others
  • The Tax System
  • Introductory Macroeconomics
  • Measuring Economic Activity
  • The Determinants of Macroeconomic Acitivity
  • Inflation, Deflation and Unemployment

Notes

This module is at CQFW Level 4