Introduction to Economics

The details
Colchester Campus
Full Year
Undergraduate: Level 4
Thursday 08 October 2020
Friday 02 July 2021
07 September 2020


Requisites for this module


BE311, BE312, BE313, BE314, BE317, BE334, BE610, EC100, EC115, EC120, EC201, EC202, EC203, EC209, EC245, EC246, EC247, EC248, EC261, EC262, EC329, EC335, EC386, EC831

Key module for

BSC N4L1 Accounting with Economics (Including Foundation Year),
BSC NKL1 Accounting with Economics (Including Year Abroad),
BSC NL41 Accounting with Economics,
BSC NL44 Accounting with Economics (Including Placement Year),
BSC N233 Actuarial Science (Including Placement Year),
BSC N323 Actuarial Science,
BSC N324 Actuarial Science (Including Year Abroad),
BSC N325 Actuarial Science (Including Foundation Year),
BA 0F66 Economics (Including Placement Year),
BA L100 Economics,
BA L102 Economics (Including Foundation Year),
BA L106 Economics (Including Year Abroad),
BSC 0E45 Economics (Including Placement Year),
BSC L101 Economics,
BSC L103 Economics (Including Foundation Year),
BSC L107 Economics (Including Year Abroad),
MECNL130 Economics,
MECNLA30 Economics (Including Placement Year),
MECNLA31 Economics (Including Year Abroad),
BSC L1G2 Economics and Mathematics (Including Placement Year),
BSC LG11 Economics and Mathematics,
BSC LG18 Economics and Mathematics (Including Foundation Year),
BSC LG1C Economics and Mathematics (Including Year Abroad),
BA LL12 Economics and Politics,
BA LL13 Economics and Politics (Including Placement Year),
BA LL1F Economics and Politics (Including Year Abroad),
BSC LL14 Economics and Politics (Including Foundation Year),
BSC LL2F Economics and Politics,
BSC LL3F Economics and Politics (Including Year Abroad),
BSC LL4F Economics and Politics (Including Placement Year),
BSC L1G1 Economics with Mathematics,
BSC L1G3 Economics with Mathematics (Including Placement Year),
BSC L1G8 Economics with Mathematics (Including Foundation Year),
BSC L1GC Economics with Mathematics (Including Year Abroad),
BSC GN13 Finance and Mathematics,
BSC GN15 Finance and Mathematics (Including Placement Year),
BSC GN18 Finance and Mathematics (Including Foundation Year),
BSC GN1H Finance and Mathematics (Including Year Abroad),
BA 5A84 Financial Economics (Including Placement Year),
BA L111 Financial Economics,
BA L118 Financial Economics (Including Foundation Year),
BA L195 Financial Economics (Including Year Abroad),
BSC 0Q64 Financial Economics (Including Placement Year),
BSC L114 Financial Economics,
BSC L117 Financial Economics (Including Foundation Year),
BSC L194 Financial Economics (Including Year Abroad),
MECNL131 Financial Economics,
MECNLB31 Financial Economics (Including Placement Year),
MECNLB32 Financial Economics (Including Year Abroad),
BA LV11 History and Economics,
BA LV18 History and Economics (Including Foundation Year),
BA V1L1 History and Economics (Including Placement Year),
BA VL11 History and Economics (Including Year Abroad),
BA L900 International Development,
BA L901 International Development (Including Year Abroad),
BA L902 International Development (Including Placement Year),
BA 9O47 International Economics (Including Placement Year),
BA L115 International Economics,
BA L160 International Economics (Including Foundation Year),
BA L163 International Economics (Including Year Abroad),
BSC 5H18 International Economics (Including Placement Year),
BSC L116 International Economics,
BSC L161 International Economics (Including Foundation Year),
BSC L162 International Economics (Including Year Abroad),
MECNL132 International Economics,
MECNLC32 International Economics (Including Placement Year),
MECNLC33 International Economics (Including Year Abroad),
BA 9L11 Management Economics (Including Placement Year),
BA L108 Management Economics,
BA L190 Management Economics (Including Foundation Year),
BA L192 Management Economics (Including Year Abroad),
BSC 5M00 Management Economics (Including Placement Year),
BSC L109 Management Economics,
BSC L191 Management Economics (Including Foundation Year),
BSC L193 Management Economics (Including Year Abroad),
MECNL133 Management Economics,
MECNL134 Management Economics (Including Placement Year),
MECNL135 Management Economics (Including Year Abroad),
BA L0V0 Philosophy, Politics and Economics,
BA L0V1 Philosophy, Politics and Economics (Including Placement Year),
BA L0V2 Philosophy, Politics and Economics (Including Foundation Year),
BA L0VA Philosophy, Politics and Economics (Including Year Abroad),
BA L147 Financial Economics and Accounting (Including Placement Year),
BA L148 Financial Economics and Accounting,
BA L149 Financial Economics and Accounting (Including Year Abroad),
BA LX14 Financial Economics and Accounting (Including Foundation Year),
BA L1R0 Economics with a Modern Language,
BSC LG01 Economics with Computing,
BSC LG02 Economics with Computing (Including Year Abroad),
BSC LG03 Economics with Computing (Including Placement Year),
BSC C814 Psychology with Economics,
BSC C815 Psychology with Economics (Including Year Abroad),
BSC C816 Psychology with Economics (Including Placement Year),
BA C841 Economics with Psychology,
BA C851 Economics with Psychology (Including Year Abroad),
BA C861 Economics with Psychology (Including Placement Year),
BSC C148 Economics with Psychology,
BSC C158 Economics with Psychology (Including Year Abroad),
BSC C168 Economics with Psychology (Including Placement Year),
BA R112 Economics with Language Studies,
BA R113 Economics with Language Studies (Including Foundation Year),
BA LY10 Social Sciences,
BA LY11 Social Sciences (Including Placement Year),
BA LY12 Social Sciences (Including Year Abroad),
BA LY13 Social Sciences (Including Foundation Year),
MSCIN399 Actuarial Science and Data Science

Module description

This module provides a broad overview of economics suitable as an introduction to the subject for all undergraduates. It is designed to develop students' knowledge of economic ideas in the context of contemporary issues using the tools of elementary economic analysis. Students are shown how to apply economic reasoning to a range of problems relevant for understanding the mechanisms and institutions which allocate and distribute resources.

In the Autumn Term theories of individual (micro) behaviour are introduced, including consumer decision-making as well firms' conduct in different market structures. In the Spring Term the focus shifts to the study of aggregate (macro) level economic activity: inflation, unemployment, business cycles and economic growth. The national economy is analysed in a global environment that includes international trade, monetary and financial systems. The effects of government policy and the choice of those policies is analysed throughout the module.

Module aims

This module aims to provide a broad overview of economics suitable as an introduction to the subject for all undergraduates. It aims to give students a basic understanding of the key ideas in economics, and to apply these to explain contemporary issues in the news and policymaking. Finally, it aims to serve as a foundation on which later courses will be built, allowing students to progress to specialist subjects in later years.

Module learning outcomes

Upon completion of this course, students will be able to apply elementary economic principles to the analysis of problems in microeconomics and macroeconomics. They will have learned how to apply marginal analysis to demonstrate knowledge of economic decision making and the relevance of opportunity costs. In completing the assignments and tests, students will demonstrate their problem-solving analytical and deductive skills.

Employability skills include: Academic skills: literacy, numeracy, communication; Professional working skills: adaptability; flexibility, decision-making; External awareness: economic and business environment and policy; Personal development planning: Time management, self management, reflection and evaluation.

Module information

No additional information available.

Learning and teaching methods

2 lectures per week, weeks 2-11, 16-25. 1 class per week, weeks 3-11, 16-25, 30


  • Vernasca, Gianluigi; Begg, David K. H. (c2014) Economics, Maidenhead: McGraw-Hill.

The above list is indicative of the essential reading for the course. The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students. Further reading can be obtained from this module's reading list.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Weighting
Coursework   Spring Term test - Timetabled for Monday 09 March 2020 - Week 24    50% 
Coursework   Autumn Term Assignment     50% 
Exam  180 minutes during Summer (Main Period) (Main) 

Overall assessment

Whichever is the Greater: EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark OR 100 per cent Exam Mark IF Coursework Mark is a pass or better


Whichever is the Greater: EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark OR 100 per cent Exam Mark IF Coursework Mark is a pass or better

Module supervisor and teaching staff
Dr Alexander Clymo, email:
Prof Gianluigi Vernasca, email:
Lectures: Prof Gianluigi Vernasca (Autumn) & Dr Alex Clymo (Spring) / Classes: various teachers
For further information, send an email message to



External examiner

No external examiner information available for this module.
Available via Moodle
Of 305 hours, 293 (96.1%) hours available to students:
12 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).


Further information

* Please note: due to differing publication schedules, items marked with an asterisk (*) base their information upon the previous academic year.

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