| Module Identifier |
EC10510 |
| Module Title |
ECONOMIC PRINCIPLES 1 |
| Academic Year |
2004/2005 |
| Co-ordinator |
Professor Peter R Midmore |
| Semester |
Semester 1 |
| Other staff |
Mr Liam Peter Price, Mr Nicholas Perdikis |
| Mutually Exclusive |
EC10120 |
| Course delivery |
Lecture | 22 Hours |
| |
Seminars / Tutorials | 5 Hours |
| Assessment |
| Assessment Type | Assessment Length/Details | Proportion |
|---|
| Semester Exam | 2 Hours | 100% |
| Supplementary Assessment | 2 Hours | 100% |
|
Learning outcomes
On successful completion of the module students will 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.
Aims
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.
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
Reading Lists
Books
N G Mankiw (2004) Principles of Economics
3rd edition. Thomson
R Frank and B Bernanke (2004) Principles of Economics
2nd edition. McGraw Hill
J Sloman (2000) Economics
4th edition. Prentice Hall
K E Case, R C Fair, M Gartner and K Healther (1999) Economics
2nd edition. Prentice Hall
Notes
This module is at CQFW Level 4