|| EC10120 |
|| ECONOMIC PRINCIPLES AND SKILLS 1 |
|| 2004/2005 |
|| Professor Peter R Midmore |
|| Semester 1 |
|| Mr Liam Peter Price, Mr Nicholas Perdikis |
|| MA12610 (unless exempted) |
|| EC10510 |
| Course delivery
|| Lecture || 22 Hours |
|| Seminars / Tutorials || 10 Hours |
|Assessment Type||Assessment Length/Details||Proportion|
|Semester Exam||2 Hours ||80%|
|Semester Assessment|| Two assessments 10% each||20%|
|Supplementary Exam||2 Hours ||100%|
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 acquire an understanding of the main determinants of macroeconomic (aggregate) economic activity, its principal measures and how it changes over time. Students will also develop an understanding of the courses of inflation and unemployment.
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.
To introduce students to the principles underlying economics, using illustrations from the study of markets and the macroeconomy.
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.
What is Economics?
Demand and Supply
Government Intervention in Markets
Measuring the Efficiency of Markets
Goods which Impose Costs on Others
The Tax System
Measuring Economic Activity
The Determinants of Macroeconomic Acitivity
Inflation, Deflation and Unemployment
N G Mankiw (2004) Principles of Economics,
3rd edition. Thomson
K E Case, R C Fair, M Gartner and K Heather (1999) Economics
2nd edition. Prentice Hall
R Frank and B Bernanke (2004) Principles of Economics
2nd edition. McGraw Hill
J Sloman (2000) Economics
4th edition. Prentice Hall
This module is at CQFW Level 4