Gwybodaeth Modiwlau

Module Identifier
Module Title
Economic Principles 1
Academic Year
Semester 1
Mutually Exclusive
Other Staff

Course Delivery

Delivery Type Delivery length / details
Lecture 22 Hours.
Seminars / Tutorials 5 Hours.


Assessment Type Assessment length / details Proportion
Semester Exam 2 Hours   Unseen written examination  90%
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:

* Understand how markets co-ordinate 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 have acquired an understanding of the main determinants of macroeconomic (aggregate) economic activity, its principal measures and how it changes over time.

* Students will also have developed an understanding of the causes of inflation and unemployment.


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

Brief description

This module introduces students to the principles underlying microeconomics and macroeconomics, providing key analytical concepts for students of business, management, and other degree schemes in which an appreciation of economic perspectives is valuable.


  • 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

Reading List

Should Be Purchased
Lipsey, R G and K A Chrystal (2007) Economics 11th Edition Oxford University Press Primo search
Supplementary Text
Case, K E and R C Fair (2007) Principles of Economics 8th Edition Prentice Hall Primo search Krugman, Wells (2006) Economics Primo search Mankiw, N G (2004) Principles of Economics 3rd Edition Thomson Primo search Mankiw, N G and Taylor (2006) Economics European Edition Thomson Primo search


This module is at CQFW Level 4