Undergraduate Course: Economics 2 (ECNM08006)
|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
|Summary||This intermediate level course is intended to develop a rigorous understanding of core microeconomic and macroeconomic models and analysis, together with an ability to apply the analysis in a variety of contexts. It is a required course for students intending to proceed to an Honours degree involving Economics.
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 theory of the firm and market structure, factor markets, externalities, the role of government and general equilibrium, with applications to monopoly and oligopoly, stock markets, property rights and public goods. Along with two economics lectures each week, a third lecture will focus on mathematical techniques including constrained optimisation.
The second semester looks at macroeconomics and includes topics such as monetary and fiscal policy, the open economy, exchange rate systems and monetary union, business cycles, economic policy and financial markets.
The course is taught through a programme of lectures and tutorials. 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. Students with a weak maths background will need to be prepared to work at developing their maths skills.
A passing course mark is an overall mark of 40% or higher. However, candidates must also pass the final examination with a mark of 40% or above in order to pass the course. Failure to do so will result in a forced fail (FF) regardless of the candidate's coursework mark.
Entry Requirements (not applicable to Visiting Students)
|| Students MUST have passed:
Economics 1 (ECNM08013)
||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.
|High Demand Course?
Course Delivery Information
|Academic year 2017/18, Available to all students (SV1)
|Learning and Teaching activities (Further Info)
Lecture Hours 60,
Seminar/Tutorial Hours 36,
Summative Assessment Hours 7.5,
Programme Level Learning and Teaching Hours 8,
Directed Learning and Independent Learning Hours
|Assessment (Further Info)
|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 (1500 words, semester 2): 10%
Weekly Homework: 10%
Degree Exam (May diet): 50%
Resit exam (August Diet): 100%
||Hours & Minutes
|Main Exam Diet S1 (December)||Economics 2||1:30|
|Main Exam Diet S2 (April/May)||3:00|
|Resit Exam Diet (August)||3:00|
On completion of this course, the student will be able to:
- A knowledge and understanding of microeconomic and macroeconomic analysis, including principles, models and associated mathematical and statistical techniques, along with applications and policy implications of those models.
- Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
- Communication skills in order to critique, create and communicate understanding.
- Personal effectiveness through task-management, time-management, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
- Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.
- Frank & Cartwright, Microeconomics and Behaviour (1st edition)
- Gottfries, Macroeconomics (1st edition)
Suggested textbook (for maths)
- Renshaw, Maths for Economics (currently in 3rd edition, but any edition will do)
|Graduate Attributes and Skills
||See Learning Outcomes
|Additional Class Delivery Information
||Three lectures per week lasting one hour each. Weekly two hour tutorials to be arranged in addition.
|Course organiser|| Sergei Plekhanov
Tel: (0131 6)51 5949
|Course secretary||Ms Dawn Mcmanus
Tel: (0131 6)50 6946