Module Identifier EC10510  
Academic Year 2007/2008  
Co-ordinator Mr Oliver Marnet  
Semester Semester 1  
Other staff Mrs Victoria E Rose-Piper, Mr Athanasios Verousis, Mr Nicholas Perdikis  
Mutually Exclusive EC10120  
Course delivery Lecture   22 Hours.  
  Seminars / Tutorials   5 Hours.  
Assessment TypeAssessment Length/DetailsProportion
Semester Exam2 Hours  100%
Supplementary Assessment2 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.


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 Lists

** Should Be Purchased
Begg, David K. H. (April 2008) Economics 9th ed.. McGraw-Hill Higher Education 9780077121747
Lipsey, Richard G. (2007.) Economics /Lipsey & Chrystal. 11th ed.. Oxford University Press 0199286418
** Supplementary Text
Case, K E and R C Fair (2007) Principles of Economics 8th Edition. Prentice Hall
Krugman, Wells (2006) Economics
Mankiw, N G (2004) Principles of Economics 3rd Edition. Thomson


This module is at CQFW Level 4