Postgraduate Course: Foundations of Economics (ECNM11086)
Course Outline
School | School of Economics |
College | College of Arts, Humanities and Social Sciences |
Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
SCQF Credits | 10 |
ECTS Credits | 5 |
Summary | This course covers what one would encounter in a typical intermediate undergraduate economics course. It consists of two parts - a two-week block of microeconomics and a two-week block of macroeconomics. Topics to be covered in the first block (microeconomics) include consumption, production, uncertainty and strategic interaction. The topics in the second block (macroeconomics) cover the basics of national income and macroeconomic modelling; the determinants of long-run economic growth, inflation and unemployment; money and interest rates and the role and influence of economic policy. |
Course description |
This course is designed to develop a solid understanding of the core economic models and insights from intermediate microeconomics and intermediate macroeconomics in a four-week period. The course is structured as a combination of daily lectures and tutorials (exercise classes) with extra reading to prepare for each class. The workload is heavy and consistent, both to cover the material and to adapt students to the pace of a graduate course. The material covered in the first block (microeconomics) includes the basics of consumer and producer theory, general equilibrium, intertemporal choice, game theory, and asymmetric information. In the second block (macroeconomics) students will discover how economies grow, why some countries have high inflation while others maintain stable prices, and why all countries have positive unemployment rates and sometimes experience recessions.
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Entry Requirements (not applicable to Visiting Students)
Pre-requisites |
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Co-requisites | |
Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
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Academic year 2020/21, Not available to visiting students (SS1)
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Quota: None |
Course Start |
Flexible |
Timetable |
Timetable |
Learning and Teaching activities (Further Info) |
Total Hours:
100
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Lecture Hours 51,
Seminar/Tutorial Hours 36,
Summative Assessment Hours 4,
Programme Level Learning and Teaching Hours 2,
Directed Learning and Independent Learning Hours
7 )
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Assessment (Further Info) |
Written Exam
90 %,
Coursework
10 %,
Practical Exam
0 %
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Additional Information (Assessment) |
Written Exams 90% (two exams, 45% each), Coursework 10% (two project, 5% each) |
Feedback |
Not entered |
No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- demonstrate knowledge and understanding of core microeconomic principles and concepts such as opportunity cost, incentives, strategic thinking, marginal considerations, expectations and surprises, risk management etc.
- show understanding of the determinants of output, the analysis of economic growth, inflation and unemployment; money market; public sector debts and deficits; the role and influence of fiscal and monetary policy, and business cycles.
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Reading List
Perfloff's Microeconomics with Calculus (2nd ed., ISBN: 1408269503),
N. Gottfries' 'Macroeconomics' (ISBN: 978-0230275973) |
Additional Information
Graduate Attributes and Skills |
Not entered |
Keywords | intermediate microeconomics,microeconomic modelling,intermediate macroeconomics,macroeconomic mo |
Contacts
Course organiser | Dr Ed Hopkins
Tel: (0131 6)50 3061
Email: Ed.Hopkins@ed.ac.uk |
Course secretary | Miss Sophie Bryan
Tel: (0131 6)50 9905
Email: Sophie.Bryan@ed.ac.uk |
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