Undergraduate Course: Economic Principles (ECNM08004)

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	20
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. The first half of the semester focuses on 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 second half of the semester covers the macroeconomic analysis of the behaviour of economy-wide measures such as output, unemployment, money, interest rates, inflation and exchange rates. The course relies primarily on words, diagrams and numerical illustrations. The use of formal mathematics is limited and basic. The recommended textbook is: 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, 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 alongside Economics 1A.

Entry Requirements (not applicable to Visiting Students)
Pre-requisites	Students MUST have passed:	Co-requisites
Prohibited Combinations	Students MUST NOT also be taking Economic Principles and Applications (ECNM08002) OR Economic Applications (ECNM08003) Students MUST NOT also be taking Economics 2 (ECNM08006)	Other requirements	Prohibited Combination: students wishing to take Economic Applications as well as Economic Principles in the same year of study should be registered for the 40 credit course Economic Principles and Applications. Students who have already taken Economics 1A should not be registered for this course. May not be taken concurrently or after Economics 2.
Additional Costs	None

Information for Visiting Students
Pre-requisites	None
Displayed in Visiting Students Prospectus?	Yes

Course Delivery Information

Delivery period: 2013/14 Semester 1, Available to all students (SV1)			Learn enabled: Yes	Quota: None
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: 200 ( Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 196 )
Additional Notes
Breakdown of Assessment Methods (Further Info)	Written Exam 90 %, Coursework 10 %, Practical Exam 0 %
Exam Information
Exam Diet	Paper Name	Hours:Minutes
Main Exam Diet S1 (December)	Economic Principles	1:00
Main Exam Diet S2 (April/May)	Economic Principles	2:00
Resit Exam Diet (August)	Economic Principles	2:00

Delivery period: 2013/14 Semester 1, Part-year visiting students only (VV1)			Learn enabled: Yes	Quota: None
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: 200 ( Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 196 )
Additional Notes
Breakdown of Assessment Methods (Further Info)	Written Exam 70 %, Coursework 30 %, Practical Exam 0 %
Exam Information
Exam Diet	Paper Name	Hours:Minutes
Main Exam Diet S1 (December)	Economic Principles	1:00

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. 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
Teamwork Project (project report, semester 1): 10% Class Exam (multiple choice, December diet): 20% Degree Exam (May diet): 65% Online Tests: 5% - Online test mark will be the average of the highest 5 marks. - Tutorial penalty 6 marks deducted for 4 missed tutorials, 8 marks deducted for 5 missed tutorials, 10 marks deducted for 6 missed tutorials, 12 marks deducted for 7 missed tutorials, 14 marks deducted for 8 missed tutorials, 18 marks deducted for 9 missed tutorials. Resit Exam (August diet): 100% Visiting Student Variant Assessment Teamwork Project (project report, semester 1): 10% Class Exam (multiple choice, December diet): 30% 2 Essays (1500 words): 50% Online Tests: 10% - Online test mark will be the average of the highest 5 marks. - Tutorial attendance: Tutorial penalty 6 marks deducted for 4 missed tutorials, 8 marks deducted for 5 missed tutorials, 10 marks deducted for 6 missed tutorials, 12 marks deducted for 7 missed tutorials, 14 marks deducted for 8 missed tutorials, 18 marks deducted for 9 missed tutorials.

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