Undergraduate Course: Economic Principles and Applications (ECNM08002)
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 1 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 provide a broad introduction to the basic principles of economic analysis, and illustrate the usefulness of these principles in a varied range of applications. The first semester focuses on basic principles, covering: the microeconomic analysis of the behaviour of individuals and firms, the operation of markets, and government intervention in markets through taxes and regulation; and the macroeconomic analysis of the behaviour of economy-wide measures such as output, unemployment, money, interest rates, inflation and exchange rates. The second semester develops and uses these principles in a variety of, primarily applied, contexts. The contexts covered will vary from year to year. A typical year might include 5 contexts drawn from: development economics; the economics of transition; globalization; macroeconomic policy; the history of economic thought; the economics of the environment; bargaining and game theory; and financial markets. The course relies primarily on words, diagrams and numerical illustrations. The use of formal mathematics is limited and basic. The recommended textbook is: : Mankiw and Taylor 'Economics', latest edition. The course is primarily aimed at students who want to obtain a broad but basic insight into economics and contemporary economic issues, but do not intend (or want to keep open the option) to progress to further study of economics in their 2nd year. Students who do plan (or want to keep open the option) to progress to Economics 2 should take Economics 1A. Students on Economics programmes, who have not previously studied economics, may find it useful to take Economic Principles and Applications alongside Economics1A. |
Information for Visiting Students
| Pre-requisites | None |
| Displayed in Visiting Students Prospectus? | Yes |
Course Delivery Information
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| Delivery period: 2013/14 Full Year, Available to all students (SV1)
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Learn enabled: Yes |
Quota: None |
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Web Timetable |
Web Timetable |
| Class Delivery Information |
Weekly one-hour tutorials to be arranged in addition. |
| Course Start Date |
16/09/2013 |
| Breakdown of Learning and Teaching activities (Further Info) |
Total Hours:
400
(
Lecture Hours 44,
Seminar/Tutorial Hours 36,
Formative Assessment Hours 30,
Summative Assessment Hours 3,
Programme Level Learning and Teaching Hours 8,
Directed Learning and Independent Learning Hours
279 )
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| Additional Notes |
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| Breakdown of Assessment Methods (Further Info) |
Written Exam
85 %,
Coursework
15 %,
Practical Exam
0 %
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| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
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| Main Exam Diet S1 (December) | Economic Principles and Applications | 1:00 | | | Main Exam Diet S2 (April/May) | | 3:00 | | | Resit Exam Diet (August) | | 3:00 | |
Summary of Intended Learning Outcomes
After successful completion of this course the student will have a basic knowledge and understanding of:
- the microeconomic analysis of the behaviour of individuals and firms, the operation of markets, and government intervention in markets through taxes and regulations; and
- the macroeconomic analysis of the behaviour of economy-wide measures such as output, unemployment, money, interest rates, inflation and exchange rates.
And insight into a variety of contemporary economic issues through applications of these principles.
General skills developed include:
- critical analysis and assessment;
- reasoning adaptably and systematically;
- problem-framing and problem-solving skills;
- basic 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
2 Teamwork Projects (project report in semester 1 and poster project in semester 2, each worth 7.5%): 15%
Class Exam (multiple choice, December diet): 20%
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 4 missed tutorials, 4 marks deducted for 5 missed tutorials, 5 marks deducted for 6 missed tutorials, 6 marks deducted for 7 missed tutorials, 7 marks deducted for 8 missed tutorials, 9 marks deducted for 9 missed tutorials, per semester.
Resit Exam (August diet): 100%
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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 Colin Roberts
Tel: (0131 6)50 8353
Email: C.J.Roberts@ed.ac.uk |
Course secretary | Ms Dawn Mcmanus
Tel: (0131 6)50 6946
Email: Dawn.McManus@ed.ac.uk |
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