Undergraduate Course: Economics 1 (VS1) (ECNM08014)
Course Outline
| School | School of Economics |
College | College of Humanities and Social Science |
| Course type | Standard |
Availability | Part-year visiting students only |
| 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 | This calculus-based 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 focuses on developing and using models of supply and demand in microeconomic (individual market) contexts.
Relevant mathematical techniques (e.g: Linear Equations & Their Graphs; Solving systems of equations; Derivatives and Differentiation; Optimisation; Functions of Two or More Variables; Basic Probability; Elasticity; Exponential and Logarithmic Functions; Compound & Continuous Growth; Calculus of Growth.) are developed and applied to economic contexts as an integral part of the course.
Learning-by-doing, through problem solving, is an important ingredient of the course, as part of an active approach to learning.
Students who have not previously studied economics may find it useful to take Economic Principles VV1 alongside Economics 1 VS1. |
Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
|
Co-requisites | |
| Prohibited Combinations | |
Other requirements | A background in mathematics beyond GCSE level is recommended. Students with a weaker maths background will need to be prepared to work at developing their maths skills. |
| Additional Costs | None |
Information for Visiting Students
| Pre-requisites | None |
| Displayed in Visiting Students Prospectus? | Yes |
Course Delivery Information
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| Delivery period: 2014/15 Semester 1, Part-year visiting students only (VV1)
|
Learn enabled: Yes |
Quota: None |
|
Web Timetable |
Web Timetable |
| Class Delivery Information |
Three lectures per week, each lasting one hour. Weekly two hour Economics tutorials, and weekly 1 hour mathematics/applications tutorials to be arranged in addition. |
| Course Start Date |
15/09/2014 |
| Breakdown of Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 20,
Seminar/Tutorial Hours 20,
Formative Assessment Hours 20,
Summative Assessment Hours 2,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
134 )
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| Additional Notes |
|
| Breakdown of Assessment Methods (Further Info) |
Written Exam
100 %,
Coursework
0 %,
Practical Exam
0 %
|
| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
|
| Main Exam Diet S1 (December) | | 2:00 | |
Summary of Intended 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 markets, taxes, regulation, international trade, and interacting markets. Competitive equilibrium and welfare; market failure. Economic growth, flex-price ('Classical') models of closed and open macroeconomies, money and inflation.
Ability to apply basic mathematical techniques in economic contexts: Linear Equations & Their Graphs; Solving systems of equations; Derivatives and Differentiation; Optimisation; Functions of Two or More Variables; Basic Probability; Elasticity; Exponential and Logarithmic Functions; Compound & Continuous Growth; Calculus of Growth.
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
Tutorial attendance and engagement: 10%
October class exam: 45%
December class exam: 45%
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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 | Mr Sean Brocklebank
Tel: (0131 6)50 6955
Email: Sean.Brocklebank@ed.ac.uk |
Course secretary | Ms Dawn Mcmanus
Tel: (0131 6)50 6946
Email: Dawn.McManus@ed.ac.uk |
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