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DEGREE REGULATIONS & PROGRAMMES OF STUDY 2014/2015
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DRPS : Course Catalogue : School of Economics : Economics

Undergraduate Course: Economics 1A (VS1) (ECNM08010)

Course Outline
SchoolSchool of Economics CollegeCollege of Humanities and Social Science
Credit level (Normal year taken)SCQF Level 8 (Year 1 Undergraduate) AvailabilityPart-year visiting students only
SCQF Credits20 ECTS Credits10
SummaryThe 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. Semester 1 focuses on developing and using models of supply and demand in both microeconomic (individual market) and macroeconomic (economy-wide, aggregate) contexts. The recommended textbooks are: Pindyck and Rubinfeld 'Microeconomics' (Pearson) and Mankiw 'Macroeconomics' (Palgrave). Learning-by-doing, through problem solving and project work, are an important ingredient of the course, with regular on-line tests to reinforce an active approach to learning.
Course description Not entered
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements A background in mathematics beyond GCSE level or equivalent is recommended. Students with a weaker maths background will need to be prepared to work at developing their maths skills.
Information for Visiting Students
Pre-requisitesNone
Course Delivery Information
Not being delivered
Learning Outcomes
After successful completion of this course the student will have knowledge and understanding of: supply & demand analysis of competitive markets - comparative statics; elasticities; and ability to apply analysis to e.g. goods and factor markets, taxes, regulation, international trade, and interacting markets. Flex-price ('Classical') and fixed-price ('Keynesian') models of closed and open macroeconomies. Cost curves and production functions; monopoly; consumer choice; competitive equilibrium and welfare; market failure.
Ability to apply basic mathematical techniques in economic contexts: manipulating & solving linear equation systems; functions and graphs; basic calculus (elasticities; maximization/minimization); Edgeworth boxes; simple regression.
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.
Reading List
None
Additional Information
Graduate Attributes and Skills Not entered
Additional Class Delivery Information Weekly one and a half hour tutorials to be arranged in addition.
KeywordsNot entered
Contacts
Course organiserMr Sean Brocklebank
Tel: (0131 6)50 6955
Email: Sean.Brocklebank@ed.ac.uk
Course secretaryMs Dawn Mcmanus
Tel: (0131 6)50 6946
Email: Dawn.McManus@ed.ac.uk
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