Undergraduate Course: Economic Principles (ECNM08004)

Course Outline
School	School of Economics	College	College of Humanities and Social Science
Credit level (Normal year taken)	SCQF Level 8 (Year 1 Undergraduate)	Availability	Available to all students
SCQF Credits	20	ECTS Credits	10
Summary	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 1.
Course description	Not entered

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.

Information for Visiting Students
Pre-requisites	None

Course Delivery Information

Academic year 2014/15, Available to all students (SV1)		Quota: 500
Course Start	Semester 1
Timetable	Timetable
Learning and Teaching activities (Further Info)	Total Hours: 200 ( Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 196 )
Assessment (Further Info)	Written Exam 90 %, Coursework 10 %, Practical Exam 0 %
Additional Information (Assessment)	Teamwork Project (project report, semester 1): 10% Class Exam (multiple choice, December diet): 20% Degree Exam (May diet): 55% Online Tests: 5% Tutorial Attendance: 10% Resit Exam (August diet): 100% Visiting Students (VV1) Teamwork Project (project report, semester 1): 10% Class Exam (multiple choice, December diet): 30% 2 Essays (1500 words): 40% Online Tests: 10% Tutorial Attendance: 10%
Feedback	Not entered
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

Academic year 2014/15, Part-year visiting students only (VV1)		Quota: 5
Course Start	Semester 1
Timetable	Timetable
Learning and Teaching activities (Further Info)	Total Hours: 200 ( Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 196 )
Assessment (Further Info)	Written Exam 70 %, Coursework 30 %, Practical Exam 0 %
Additional Information (Assessment)	Teamwork Project (project report, semester 1): 10% Class Exam (multiple choice, December diet): 20% Degree Exam (May diet): 55% Online Tests: 5% Tutorial Attendance: 10% Resit Exam (August diet): 100% Visiting Students (VV1) Teamwork Project (project report, semester 1): 10% Class Exam (multiple choice, December diet): 30% 2 Essays (1500 words): 40% Online Tests: 10% Tutorial Attendance: 10%
Feedback	Not entered
Exam Information
Exam Diet	Paper Name		Hours & Minutes
Main Exam Diet S1 (December)	Economic Principles		1:00

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.

Reading List
None

Additional Information
Graduate Attributes and Skills	Not entered
Additional Class Delivery Information	Weekly one-hour tutorials to be arranged in addition.
Keywords	Not entered

Contacts
Course organiser	Dr Nicholas Myers Tel: (0131 6)51 5189 Email: Nick.Myers@ed.ac.uk	Course secretary	Ms Dawn Mcmanus Tel: (0131 6)50 6946 Email: Dawn.McManus@ed.ac.uk