Module Identifier EC10120  
Academic Year 2007/2008  
Co-ordinator Mr Oliver Marnet  
Semester Semester 1  
Other staff Mr Nicholas Perdikis, Mr Kato Mukasa Kimbugwe, Mr Athanasios Verousis  
Co-Requisite MA12610 (unless exempted)  
Mutually Exclusive EC10510  
Course delivery Lecture   22 Hours.  
  Seminars / Tutorials   10 Hours.  
Assessment TypeAssessment Length/DetailsProportion
Semester Exam2 Hours  80%
Semester Assessment Two assessments 10% each10%
Semester Assessment Two assessments 10% each10%
Supplementary Exam2 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 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.

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.


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

** General Text
J Sloman (2000) Economics 4th edition. Prentice Hall
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

N G Mankiw (2004) Principles of Economics, 3rd edition. Thomson
** Should Be Purchased
Begg, David (April 2008) Economics 9th ed.. McGraw-Hill College [Imprint] 9780077119669
Lipsey, Richard G. (2007.) Economics /Lipsey & Chrystal. 11th ed.. Oxford University Press 0199286418


This module is at CQFW Level 4