Introduction to Economics
Spring & Summer
Undergraduate: Level 4
Monday 13 January 2020
Friday 26 June 2020
04 October 2018
Requisites for this module
BA 0F66 Economics (Including Placement Year),
BA L100 Economics,
BA L100JK Economics,
BA L100SK Economics,
BA L102 Economics (Including Foundation Year),
BA L106 Economics (Including Year Abroad),
BSC 0E45 Economics (Including Placement Year),
BSC L101 Economics,
BSC L101SK Economics,
BSC L103 Economics (Including Foundation Year),
BSC L107 Economics (Including Year Abroad)
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.
Introduction to microeconomics / supply and demand
Price determination and price responsiveness
Theory of consumer choice
Theory of the firm
The labour market
Capital and investment
Introduction to macroeconomics and national income determination
Fiscal policy and foreign trade
Money and modern banking
Interest rates and monetary transmission
Monetary and fiscal policy in a closed economy
Aggregate supply, the price level and the speed of adjustment
Inflation and the Philips Curve
Open economy macroeconomics
Economic growth and the business cycle
Weekly homework questions
Past exam papers on Moodle with tutorial support
In order to pass this module, you must pass the final exam with at least 40% and the aggregate (coursework and exam) module mark with at least 40%. The coursework weighting is 50% and the exam weighting is 50%.
Coursework consists of:
One in-class test in week 25 (25%)
In-class case study in week 31 (50%)
One in-class test in week 35 (25%)
One 3 hour exam undertaken in weeks 40 - 41.
The aims of this module are to:
1. Apply economic reasoning to a range of problems relevant for understanding the mechanisms and institutions which allocate and distribute resources.
2. Introduce theories of individual (micro) behaviour, including consumer decision-making as well as firms' conduct in different market structures.
3. Study the determinants of aggregate (macro) level economic activity: inflation, unemployment, business cycles and economic growth.
4. Analyse the national economy in a global environment that includes international trade, monetary and financial systems
5. Analyse the effects of government policy and the choice of those policies
On successful completion of the module, students will:
- Have acquired an introductory knowledge of economic principles.
- Be able to use verbal and graphical reasoning to express economic ideas and to apply elementary economic theory to study a range of economic problems.
- Be aware that many economic problems can be approached in several ways and may have more than one solution
- Have become acquainted with the role of decision-making in influencing policies and economic performance at the level of firms, industries and the economy as a whole.
Students will need a scientific or financial calculator which they must bring to all lessons and assessments.
Calculator recommended is SHARP EL735. (This is a financial calculator which can be used in many quantitative, finance, accounting and business courses)
6 hours per week over 20 weeks, with occasional tutorials
Lectures: 1 x 2 hours per week
Classes and lab sessions: 2 x 2 hours per week
Internet access, AV equipment and software packages are available. Core and supplementary learning materials are placed on Moodle. There will be tutorial advice offered on an occasional basis. Academic skills advisors are also available to provide extra advice.
This module does not appear to have a published bibliography.
Assessment items, weightings and deadlines
|Coursework / exam
||In ClassTest 1
||In Class Test 3
||In Class Case Study Test 2
||180 minutes during Summer/LV (Main)
Module supervisor and teaching staff
Dr James O'Geran
No external examiner information available for this module.
Available via Moodle
Of 141 hours, 44 (31.2%) hours available to students:
13 hours not recorded due to service coverage or fault;
84 hours not recorded due to opt-out by lecturer(s).
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