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DRPS : Course Catalogue : School of Economics : Economics

Undergraduate Course: Economics 2 (ECNM08006)

Course Outline
SchoolSchool of Economics CollegeCollege of Humanities and Social Science
Course typeStandard AvailabilityAvailable to all students
Credit level (Normal year taken)SCQF Level 8 (Year 2 Undergraduate) Credits40
Home subject areaEconomics Other subject areaNone
Course website None Taught in Gaelic?No
Course descriptionThe 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 looks at the economic analysis of risk, information and strategic behaviour, general equilibrium and welfare economics, with applications to insurance and credit markets, oligopoly, asset pricing and investment. The second semester looks more at macroeconomics and includes topics such as economic fluctuations, monetary and fiscal policy in closed and open economies, consumption, investment, taxation, and public sector debt and deficits. Along with two economics lectures each week, a third lecture will focus on statistical techniques and data analysis. 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 tutorial work, is 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), Mankiw 'Macroeconomics' (Palgrave), and Stock and Watson 'Introduction to Econometrics', Chapters 1-3,(Pearson).
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Students MUST have passed: Economics 1A (ECNM08005)
Prohibited Combinations Other requirements None
Additional Costs None
Information for Visiting Students
Pre-requisitesVisiting 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: 2013/14 Full Year, Available to all students (SV1) Learn enabled:  Yes Quota:  None
Web Timetable Web Timetable
Class Delivery Information Weekly 1 hour statistics seminar and weekly one and a half 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 66, Seminar/Tutorial Hours 45, Formative Assessment Hours 29, Summative Assessment Hours 9, Programme Level Learning and Teaching Hours 8, Directed Learning and Independent Learning Hours 243 )
Additional Notes
Breakdown of Assessment Methods (Further Info) Written Exam 80 %, Coursework 20 %, Practical Exam 0 %
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S1 (December)Economics 21:00
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 knowledge and understanding of: the economic analysis of risk, information, strategic behaviour, general equilibrium, 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; welfare economics; consumption and saving behaviour; investment; public sector debts and deficits; economic policy; inflation; economic fluctuations.
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
Class Exam (multiple choice, October): 10%
Class Exam (multiple choice, December diet): 10%
Class Exam (multiple choice, February): 10%
Essay (2000 words, semester 1): 10%
Group Assignments in tutorials: 10%
Degree Exam (May diet): 50%

- 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%
Special Arrangements
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
Course organiserMr Michael Watts
Tel: (0131 6)51 5130
Course secretaryMs Dawn Mcmanus
Tel: (0131 6)50 6946
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