Undergraduate Course: Economic Principles (ECNM08004)
|School||School of Economics
||College||College of Arts, Humanities and Social Sciences
|Credit level (Normal year taken)||SCQF Level 8 (Year 1 Undergraduate)
||Availability||Available to all students
|Summary||The course is intended to provide a broad introduction to the basic principles of economic analysis. The course is primarily aimed at students who want to obtain a broad but basic insight into economics, but do not intend (or do not want to keep open the option) to progress to further study of economics in their 2nd year. Students who do plan (or want to keep open the option) to progress to Economics 2 should take Economics 1.
The course is intended to provide a broad introduction to the principles of microeconomic and macroeconomic analysis.
Course content varies from year to year, but would typically address the microeconomic analysis of the behaviour of individuals and firms, the operation of markets, and government intervention in markets through taxes and regulation; and the macroeconomic analysis of the behaviour of economy-wide measures such as output, unemployment, money, interest rates, and inflation.
The course is taught through a programme of lectures and tutorials. The course relies primarily on words, diagrams and numerical illustrations. The use of formal mathematics is limited and basic. The recommended textbook is: The recommended textbook is: Mankiw and Taylor 'Economics', latest edition.
The course is primarily aimed at students who want to obtain a broad but basic insight into economics, but do not intend (or do not want to keep open the option) to progress to further study of economics in their 2nd year. Students who do plan (or want to keep open the option) to progress to Economics 2 should take Economics 1.
Please note: the Group Project assessment includes attendance of a poster presentation, which will take place on a Saturday towards the end of the semester. Attendance at this session is required.
Entry Requirements (not applicable to Visiting Students)
|Prohibited Combinations|| Students MUST NOT also be taking
Economics 2 (ECNM08006)
||Other requirements|| Students enrolled on Economics 1 who have taken a high school economics course should not take Economic Principles.
May not be taken concurrently or after Economics 2.
Information for Visiting Students
|High Demand Course?
Course Delivery Information
|Academic year 2022/23, Available to all students (SV1)
|Learning and Teaching activities (Further Info)
Lecture Hours 20,
Seminar/Tutorial Hours 9,
Summative Assessment Hours 3,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
|Assessment (Further Info)
|Additional Information (Assessment)
||Teamwork Project (project report, semester 1): 15%
Degree Exam (December diet): 75%
Online Tests: 5%
Weekly Homework: 5%
Resit Exam (August diet): 100%
||Hours & Minutes
|Main Exam Diet S1 (December)||2:00|
|Resit Exam Diet (August)||2:00|
On completion of this course, the student will be able to:
- A knowledge and understanding of microeconomics and macroeconomic principles, and of economic issues through application of these principles.
- 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 and to collaborate with and relate to others.
- Personal effectiveness through task-management, time-management, teamwork and group interaction, 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.
|Mankiw and Taylor 'Economics'|
|Graduate Attributes and Skills
||See Learning Outcomes
|Additional Class Delivery Information
||Weekly one-hour tutorials to be arranged in addition.
|Course organiser||Mr Jovan Vojnovic
Tel: (0131 6)50 8356
|Course secretary||Miss Lisa Jones
Tel: (0131 6)51 5958