Postgraduate Course: Economics for Postgraduates (ECNM11042)
|School||School of Economics
||College||College of Humanities and Social Science
|Credit level (Normal year taken)||SCQF Level 11 (Postgraduate)
||Availability||Not available to visiting students
|Summary||This course is intended for postgraduate students enrolled in taught and research postgraduate programmes throughout the University who have little previous exposure to economics, but who might find economics to be beneficial for their career and research purposes.
The course's major objective is to introduce students to economists' way of thinking and equip them with tools for tackling a variety of economic issues ranging from simple household and firm decisions through industry regulation and economy-wide stimuli to societal welfare and global economic policies.
The course begins with a brief overview of the main economic principles (scarcity, opportunity cost, comparative advantage, interdependency), and introduces the major tools of economic analysis (marginal analysis, optimization, supply and demand analysis, cost-benefit analysis, expected utility, game theory). It then proceeds to cover market structure, externalities, free trade, market and government failure, welfare, efficiency and equity, and the principles of regulation. It then reviews basic macroeconomic aggregates (aggregate output, unemployment, inflation), business cycles (expansion, recession, depression, stagflation), and fiscal and monetary policies.
Depending on the course enrolment, student interest and staff expertise, the final part of the course will focus on current economic events and/or applied economic issues. The list of potential applications to be covered includes but is not limited to issues in global and political economy (economic growth and inequality, economic development, international trade and capital flows); issues in macroeconomic policy and business cycles; issues in game theory and asymmetric information (moral hazard, adverse selection, principal-agent problem, contracts); cost-benefit analysis, project appraisal and evaluation.
Entry Requirements (not applicable to Visiting Students)
||Other requirements|| None
Course Delivery Information
|Academic year 2018/19, Not available to visiting students (SS1)
|Learning and Teaching activities (Further Info)
Lecture Hours 20,
Summative Assessment Hours 2,
Programme Level Learning and Teaching Hours 3,
Directed Learning and Independent Learning Hours
|Assessment (Further Info)
|Additional Information (Assessment)
||Essay (maximum 2,000 words) - 40%
Written exam in April-May diet - 60%
||Hours & Minutes
|Main Exam Diet S2 (April/May)||2:00|
| Ability to understand and use economic terminology and concepts. Ability to employ main economic tools (marginal analysis, optimization, supply and demand, decision-making under market and strategic uncertainty). High-level understanding of markets and efficiency. High-level understanding of implications of micro- and macroeconomic policies
|Graduate Attributes and Skills
|Course organiser||Mr Jovan Vojnovic
Tel: (0131 6)50 8356
|Course secretary||Miss Sophie Bryan
Tel: (0131 6)50 9905