Undergraduate Course: Economics 2 (ECNM08006)
Course Outline
| School | School of Economics |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 8 (Year 2 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 40 |
ECTS Credits | 20 |
| Summary | This 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, 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 practice tests to reinforce an active approach to learning.
The recommended textbooks are: Pindyck and Rubinfeld 'Microeconomics' (Pearson), Mankiw 'Macroeconomics' (Palgrave), and Diez, Barr and Çetinkaya-Rundel 'Introductory Statistics with Randomization and Simulation'.
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| Course description |
Not entered
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
Students MUST have passed:
Economics 1A (ECNM08005)
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Information for Visiting Students
| Pre-requisites | Visiting 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. |
Course Delivery Information
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| Academic year 2014/15, Available to all students (SV1)
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Quota: 100 |
| Course Start |
Full Year |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
400
(
Lecture Hours 58,
Seminar/Tutorial Hours 45,
Formative Assessment Hours 29,
Summative Assessment Hours 7,
Programme Level Learning and Teaching Hours 8,
Directed Learning and Independent Learning Hours
253 )
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| Assessment (Further Info) |
Written Exam
80 %,
Coursework
20 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
Three multiple choice class tests (October, February and March; worth 10% each, but only the best two exam results are counted): 20%
December written exam: 10%
Essay (2000 words, semester 2): 10%
Tutorial attendance and engagement: 10%
Degree Exam (May diet): 50%
Resit exam (August Diet): 100%
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| Feedback |
Not entered |
| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
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| Main Exam Diet S1 (December) | Economics 2 | 1:30 | | | Main Exam Diet S2 (April/May) | | 3:00 | | | Resit Exam Diet (August) | | 3:00 | |
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; total differentiation; 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 of sources; presentation and communication skills; interpersonal and group skills; computer and IT skills; independent action and initiative; managing tasks and time; coping with stress.
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Additional Information
| Graduate Attributes and Skills |
Not entered |
| Additional Class Delivery Information |
Three lectures per week lasting one hour each. Weekly 1 hour statistics seminar and weekly one and a half hour tutorials to be arranged in addition. |
| Keywords | Not entered |
Contacts
| Course organiser | Mr Michael Watts
Tel: (0131 6)51 5130
Email: Michael.Watts@ed.ac.uk |
Course secretary | Ms Dawn Mcmanus
Tel: (0131 6)50 6946
Email: Dawn.McManus@ed.ac.uk |
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