Undergraduate Course: Economics 2 (ECNM08006)
Course Outline
| School |
School of Economics |
College |
College of Humanities and Social Science |
| Course type |
Standard |
Availability |
Available to all students |
| Credit level (Normal year taken) |
SCQF Level 8 (Year 2 Undergraduate) |
Credits |
40 |
| Home subject area |
Economics |
Other subject area |
None |
| Course website |
None
|
Taught in Gaelic? |
No |
| Course description |
The course is intended to develop a rigorous understanding of core economic models and analysis, together with an ability to apply the analysis in a variety of contexts. The first semester focuses on the economic analysis of risk, information and strategic behaviour with applications to both microeconomic and macroeconomic contexts, such as asset pricing, insurance and credit markets, macroeconomic policy, and oligopoly. The second semester focuses on time and expectations. The topics covered will include intertemporal choice, expectations, and some basic techniques of dynamic modelling. Applications are likely to include consumption and saving behaviour; investment, taxation, public sector debt and deficits, asset markets, economic growth and business cycles. Relevant mathematical and statistical techniques (e.g. the basics of probability theory, simple difference equations, elements of econometric analysis) are developed and applied to economic contexts as an integral part of the course. Students with a weak maths background will need to be prepared to work at developing their maths skills. Learning-by-doing, through problem solving and project work, are an important ingredient of the course, with regular on-line tests to reinforce an active approach to learning. The recommended textbooks are: Pindyck and Rubinfeld 'Microeconomics' (Pearson) and Mankiw 'Macroeconomics' (Palgrave). |
Entry Requirements
| Pre-requisites |
Students MUST have passed:
Economics 1A (ECNM08005)
|
Co-requisites |
|
| Prohibited Combinations |
|
Other requirements |
None
|
| Additional Costs |
None |
Information for Visiting Students
| Pre-requisites |
Visiting students should usually have at least 1 introductory level Economics course at grade B or above (or be predicted to obtain this) for entry to this course. We will only consider University/College level courses. |
| Displayed in Visiting Students Prospectus? |
Yes |
Course Delivery Information
|
| Delivery period: 2010/11 Full Year, Available to all students (SV1)
|
WebCT enabled: Yes |
Quota: None |
| Location |
Activity |
Description |
Weeks |
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
| Central | Lecture | | 1-22 | | 10:00 - 10:50 | | | | | Central | Lecture | | 1-22 | | | 10:00 - 10:50 | | | | Central | Lecture | | 1-22 | | | | | 10:00 - 10:50 |
| First Class |
Week 1, Tuesday, 10:00 - 10:50, Zone: Central. David Hume Tower Lecture Theatre A |
| Additional information |
Weekly two-hour tutorial to be arranged in addition. |
| Exam Information |
| Exam Diet |
Paper Name |
Hours:Minutes |
Stationery Requirements |
Comments |
| Main Exam Diet S1 (December) | Economics 2 | 1:00 | pencils / rubbers / scrap paper | c/w ECNM08011 | | Main Exam Diet S2 (April/May) | | 3:00 | 20 sides / pencils / rubbers / scrap paper | c/w ECNM08011 | | Resit Exam Diet (August) | | 3:00 | 20 sides / pencils / rubbers / scrap paper | c/w ECNM08011 |
Summary of Intended Learning Outcomes
After successful completion of this course the student will have knowledge and understanding of: the economic analysis of risk, information, strategic behaviour, intertemporal choice, basic dynamics, and expectations. Together with the ability to apply this analysis in a variety of economic contexts, including: asset pricing; insurance and credit markets; oligopoly; consumption and saving behaviour; investment; public sector debts and deficits; economic policy; inflation; economic growth and business cycles.
Ability to apply basic mathematical techniques in economic contexts: probability theory; maximization/minimization; simple difference equations; elements of econometric analysis.
General skills developed include: critical analysis and assessment; reasoning adaptably and systematically; problem-framing and problem-solving skills; numeracy and quantitative skills; obtaining and processing information from a variety sources; presentation and communication skills; interpersonal and group skills; computer and IT skills; independent action and initiative; managing tasks and time; coping with stress. |
Assessment Information
Essay (2000 words, semester 1): 15%
Class Exam (multiple choice, December diet): 10%
Teamwork Project (poster, semester 2): 10%
Degree Exam (May diet): 60%
Online Tests: 5% (semester 1 and semester 2, each worth 2.5%)
- Online test mark for each semester will be the average of the highest 5 marks.
- Tutorial attendance: penalty 3 marks deducted for 5 missed tutorials, 6 marks deducted for 7 missed tutorials, 9 marks deducted for 9 missed tutorials.
Resit Exam (August diet): 100% |
Special Arrangements
| None |
Additional Information
| Academic description |
Not entered |
| Syllabus |
Not entered |
| Transferable skills |
Not entered |
| Reading list |
Not entered |
| Study Abroad |
Not entered |
| Study Pattern |
Not entered |
| Keywords |
Not entered |
Contacts
| Course organiser |
Dr Santiago Sanchez-Pages
Tel: (0131 6)51 3005
Email: Santiago.Sanchez-Pages@ed.ac.uk |
Course secretary |
Ms Dawn Mcmanus
Tel: (0131 6)50 8361
Email: Dawn.McManus@ed.ac.uk |
|
copyright 2011 The University of Edinburgh -
31 January 2011 7:33 am
|
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