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DRPS : Course Catalogue : School of Economics : Economics

Undergraduate Course: Economics 2 (ECNM08006)

Course Outline
SchoolSchool of Economics CollegeCollege of Humanities and Social Science
Credit level (Normal year taken)SCQF Level 8 (Year 2 Undergraduate) AvailabilityAvailable to all students
SCQF Credits40 ECTS Credits20
SummaryThis 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.
Course description 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)
Pre-requisites Students MUST have passed: Economics 1 (ECNM08013)
Prohibited Combinations Other requirements None
Information for Visiting Students
Pre-requisitesVisiting 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? Yes
Course Delivery Information
Academic year 2017/18, Available to all students (SV1) Quota:  1
Course Start Full Year
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 400 ( 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 288 )
Assessment (Further Info) Written Exam 80 %, Coursework 20 %, Practical Exam 0 %
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%
Feedback Not entered
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S1 (December)Economics 21:30
Main Exam Diet S2 (April/May)3:00
Resit Exam Diet (August)3:00
Learning Outcomes
On completion of this course, the student will be able to:
  1. 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.
  2. Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
  3. Communication skills in order to critique, create and communicate understanding.
  4. Personal effectiveness through task-management, time-management, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
  5. Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.
Reading List
Required textbooks
- 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)
Additional Information
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.
KeywordsNot entered
Course organiser Sergei Plekhanov
Tel: (0131 6)51 5949
Course secretaryMs Dawn Mcmanus
Tel: (0131 6)50 6946
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