Gwybodaeth Modiwlau

Module Identifier
EC10120
Module Title
ECONOMIC PRINCIPLES AND SKILLS 1
Academic Year
2009/2010
Co-ordinator
Professor Peter R Midmore
Semester
Semester 1
Co-Requisite
MA12610 (unless exempted)
Mutually Exclusive
EC10510
Other Staff
 

Course Delivery

Delivery Type Delivery length / details
Lecture 22 Hours.
Seminars / Tutorials 10 Hours.
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Assessment Two assessments 10% each  20%
Semester Exam 2 Hours   80%
Supplementary Exam 2 Hours   100%

Learning Outcomes

On successful completion of the module students will understand how markets coordinate economic activity and produce equilibrium prices and quantities; how to evaluate market outcomes for policy purposes; and the mutual benefit from trade between individuals and between countries. They will also be able to explain and utilise principles of optimising behaviour by households and firms, and the effects of alternative market structures.

The module will help students acquire specific transferable skills. They will develop their ability to follow arguments and develop their logic and as a result improve on their capacity to see and solve problems. Essay writing and class work will help them to acquire time management, teamwork and presentational skills. Their numeracy will be enhanced by handling quantitative relationships and formulae through use of the library and internet. The learning experience will encourage students to reflect on ideas and thoughts.

Aims

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

Brief description

This module introduces students to the fundamental principles underlying microeconomics. 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 or Business Economics.

Content

  • What is Microeconomics
  • Demand and Supply
  • Government Intervention in Markets
  • Measuring the Efficiency of Markets
  • Goods which Impose Costs on Others
  • The Tax System
  • Consumer Choice
  • Producer Choice
  • Different Market Structures
  • Goods where Consumption is Non-Rival
  • General Equilibrium and Economic Efficiency

Reading List


N G Mankiw (2004) Principles of Economics, 3rd edition Thomson Primo search J Sloman (2000) Economics 4th edition Prentice Hall Primo search K E Case, R C Fair, M Gartner and K Heather (1999) Economics 2nd edition Prentice Hall Primo search R Frank and B Bernanke (2004) Principles of Economics 2nd edition McGraw Hill Primo search

Notes

This module is at CQFW Level 4