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DEGREE REGULATIONS & PROGRAMMES OF STUDY 2011/2012
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DRPS : Course Catalogue : School of Economics : Economics

Postgraduate Course: Economics for Postgraduates (ECNM11042)

Course Outline
SchoolSchool of Economics CollegeCollege of Humanities and Social Science
Course typeStandard AvailabilityNot available to visiting students
Credit level (Normal year taken)SCQF Level 11 (Postgraduate) Credits15
Home subject areaEconomics Other subject areaNone
Course website None Taught in Gaelic?No
Course descriptionThis course is intended for postgraduate students enrolled in taught and research postgraduate programmes throughout the University who have little previous exposure to economics, but who might find economics to be beneficial for their career and research purposes.

The course&s major objective is to introduce students to economists& way of thinking and equip them with tools for tackling a variety of economic issues ranging from simple household and firm decisions through industry regulation and economy-wide stimuli to societal welfare and global economic policies.

The course begins with a brief overview of the main economic principles (scarcity, opportunity cost, comparative advantage, interdependency), and introduces the major tools of economic analysis (marginal analysis, optimization, supply and demand analysis, cost-benefit analysis, expected utility, game theory). It then proceeds to cover market structure, externalities, free trade, market and government failure, welfare, efficiency and equity, and the principles of regulation. It then reviews basic macroeconomic aggregates (aggregate output, unemployment, inflation), business cycles (expansion, recession, depression, stagflation), and fiscal and monetary policies.

Depending on the course enrolment, student interest and staff expertise, the final part of the course will focus on current economic events and/or applied economic issues. The list of potential applications to be covered includes but is not limited to issues in global and political economy (economic growth and inequality, economic development, international trade and capital flows); issues in macroeconomic policy and business cycles; issues in game theory and asymmetric information (moral hazard, adverse selection, principal-agent problem, contracts); cost-benefit analysis, project appraisal and evaluation.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Additional Costs None
Course Delivery Information
Delivery period: 2011/12 Semester 2, Not available to visiting students (SS1) WebCT enabled:  Yes Quota:  None
Location Activity Description Weeks Monday Tuesday Wednesday Thursday Friday
CentralLectureRoom 3.D01, Forrest Hill1-11 11:10 - 13:00
First Class Week 18, Wednesday, 11:10 - 13:00, Zone: Central. Room 3.D01, Forrest Hill
Exam Information
Exam Diet Paper Name Hours:Minutes
Main Exam Diet S2 (April/May)2:00
Summary of Intended Learning Outcomes
Ability to understand and use economic terminology and concepts. Ability to employ main economic tools (marginal analysis, optimization, supply and demand, decision-making under market and strategic uncertainty). High-level understanding of markets and efficiency. High-level understanding of implications of micro- and macroeconomic policies
Assessment Information
Essay (maximum 2,000 words) $ 40%
Written exam in April-May diet $ 60%
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
KeywordsNot entered
Contacts
Course organiserDr Simon Clark
Tel: (0131 6)50 3850
Email: S.Clark@ed.ac.uk
Course secretaryMrs Lorna Aitken
Tel: (0131 6)50 8363
Email: L.Aitken@ed.ac.uk
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