Module
Economics I
Module description
This module provides the introduction to economics for undergraduates in the Department of Economics. It puts the student at the centre of pedagogy using learning materials and experiences attuned both to the societal problems that students care about and to how students acquire facility and confidence in using and communicating economics. Digital technology and interactive teaching methods will introduce students to an empirical discipline. Students will learn to use evidence from history, experiments and other data sources to test competing explanations and policies. It introduces the characteristics of economies using historical and cross-country comparisons across the major dimensions of economic performance (growth, inequality, stability). By taking the main economic actors and showing how they make decisions, the module covers behaviour in goods, labour and credit markets, highlighting the role of the rules of the game (institutions), and showing the sources of market successes and market failures. Behaviour of households and firms is analysed in the economy as a whole, along with that of fiscal and monetary policy makers.
Full module specification
| Module title: | Economics I |
|---|---|
| Module code: | BEE1036 |
| Module level: | 1 |
| Academic year: | 2022/3 |
| Module lecturers: |
|
| Module credit: | 15 |
| ECTS value: | 7.5 |
| Pre-requisites: | A Level Maths or Equivalent |
| Co-requisites: | BEE1024. Cannot be taken with BEE1029 or BEE1034 |
| Duration of module: |
Duration (weeks) - term 1: 12 |
Module aims
This module aims to provide students with a basic understanding of economics, and to apply this way of thinking to real world problems. It aims to help students understand the world around them, become more astute participants in the Economy and Society and help them understand Economic Policy so that they can better judge the decisions affecting the allocation of their society’s resources.
ILO: Module-specific skills
- 1. outline and apply the main topics in introductory economic theory;
- 2. explain any basic problem in economics using diagrams and to some extent basic algebra.
ILO: Discipline-specific skills
- 3. identify, present and explain standard theoretical economic models and apply them to analyses of economic questions and policy issues;
- 4. develop skills to undertake further economics, as this module is one of the building blocks to understand the subject.
ILO: Personal and key skills
- 5. communicate concepts/definitions/arguments;
- 6. prepare for and meet strict deadlines;
- 7. plan own workloads.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 32 | 118 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activities | 22 | Lectures cover all ILOs |
| Scheduled Learning and Teaching Activities | 10 | Tutorials are classes that solve practical exercises and include more in depth discussion |
| Guided Independent Study | 40 | Preparation for Lectures and revision |
| Guided Independent Study | 10 | Homework tasks |
| Guided Independent Study | 20 | Assignments preparation |
| Guided Independent Study | 48 | Exam preparation and revisions |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Tutorial Questions | In class | 1-6 | In-class feedback |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 60 | 40 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| 8 online quizzes throughout term | 20 | 30 minutes per week | 1-7 | Online feedback pass/fail assessment |
| Individual Assignment | 40 | 2,000 words | 1-7 | Online feedback pass/fail assessment |
| Exam | 40 | 2 hours | 1-7 | Written/Oral |
| 0 | ||||
| 0 | ||||
| 0 |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Online quizzes (20%) | MCQ Exam (2 hours, 20%) | 1-7 | August/September reassessment period |
| Individual Assignment (40%) | Individual essay (2000 word, 40%) | 1-7 | August/September reassessment period |
| Exam (40%) | Exam 2 hours, 40%) | 1-7 | August/September reassessment period |
Syllabus plan
The Capitalist revolution
Technological change, population and growth
Scarcity, work and choice
Social interactions
Property and power: Mutual gains and conflict
The firm and its customers
Supply and demand: Price-taking and competitive markets
Rent-seeking, price-setting and market dynamics
Markets, efficiency and public policy
Indicative learning resources - Basic reading
Basic reading:
CORE’s The Economy, available (for free) at: https://www.core-econ.org/
Doing Economics, available (for free) at: https://www.core-econ.org/doing-economics/index.html
ELE – College to provide hyperlink to appropriate pages
Module has an active ELE page?
Yes
Origin date
11/03/2019
Last revision date
08/11/2022