IA710-4-PS-CO:
Introduction to Economics

The details
2019/20
Essex Pathways
Colchester Campus
Spring & Summer
Undergraduate: Level 4
Current
Monday 13 January 2020
Friday 26 June 2020
30
04 October 2018

 

Requisites for this module
(none)
(none)
(none)
(none)

 

(none)

Key module for

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)

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.

Syllabus

Microeconomics:
Introduction to microeconomics / supply and demand
Price determination and price responsiveness
Theory of consumer choice
Theory of the firm
Perfect competition
Monopoly
Imperfect competition
The labour market
Capital and investment
Welfare economics

Macroeconomics:
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
Unemployment
Open economy macroeconomics
Economic growth and the business cycle

Assessment

Formative:
Weekly homework questions
Revision exercises
Past exam papers on Moodle with tutorial support

Summative:
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%)

Final Exam:

One 3 hour exam undertaken in weeks 40 - 41.

Module aims

Module aims 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

Module learning outcomes

Learning outcomes 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.

Module information

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)

Learning and teaching methods

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 Learning Support 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.

Bibliography

This module does not appear to have a published bibliography.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Weighting
Written Exam In ClassTest 1 25%
Written Exam In Class Test 3 25%
Written Exam In Class Case Study Test 2 50%
Exam 180 minutes during Summer/LV (Main)

Overall assessment

Coursework Exam
50% 50%

Reassessment

Coursework Exam
50% 50%
Module supervisor and teaching staff
Dr James O'Geran
catsmith

 

Availability
No
No
No

External examiner

No external examiner information available for this module.
Resources
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).

 

Further information
Essex Pathways

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