Undergraduate Course: Economics 1B (ECNM08028)
Course Outline
| 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 |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | This calculus-based course develops a rigorous understanding of core microeconomic models and analytical techniques. It emphasises the formal tools required for intermediate study in economics and introduces students to the use of mathematical methods in economic reasoning. The course is primarily intended for students planning to progress to further study in economics, though others may also enrol. |
| Course description |
This calculus-based intermediate microeconomics 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.
In this semester, we will focus on developing and using models of individual choice and market supply and demand. We consider cases of rational choice, but also the role of emotions and irrationality.
Relevant mathematical techniques (e.g: linear equations & their graphs; solving systems of equations; derivatives and differentiation; optimisation; functions of two or more variables; basic probability; elasticity; exponential and logarithmic functions) are developed and applied to economic contexts as an integral part of the course.
The course is taught through a programme of lectures and tutorials. Learning-by-doing, through problem solving, is an important ingredient of the course, as part of an active approach to learning.
The course is primarily aimed at students who intend (or want to keep open the option) to progress to further study of economics in their 2nd year. Other students are welcome, but may find Economic Principles and/or Economic Applications a more suitable alternative.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | Students MUST also take:
Economics 1A (ECNM08027)
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| Prohibited Combinations | |
Other requirements | Enrolment is restricted to first-year students on programmes required to take the course as per their DPT, or as an explicitly-named option; this is most undergraduate programmes with Economics in the title, MA (Hons) Accounting and Business, and MA (Hons) Accounting and Finance. |
Information for Visiting Students
| Pre-requisites | None |
Course Delivery Information
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| Academic year 2026/27, Available to all students (SV1)
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Quota: None |
| Course Start |
Semester 2 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 30,
Seminar/Tutorial Hours 9,
Summative Assessment Hours 2,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
155 )
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| Assessment (Further Info) |
Written Exam
70 %,
Coursework
30 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
Weekly homework/quizzes - 10%
Class exam - 20%
Degree exam - 70% |
| Feedback |
Not entered |
| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Analyse production technologies and cost structures and apply them to firm decision-making in the short and long run.
- Evaluate market outcomes under perfect competition, monopoly, and imperfect competition, and apply models of pricing, market power, and strategic interaction.
- Interpret labour and capital market behaviour using marginal productivity theory, intertemporal choice, and models of wage and return determination.
- Apply general-equilibrium and welfare-economic tools to assess efficiency, exchange, production, and the effects of taxation and assess externalities, public goods, and alternative government interventions using formal microeconomic analysis.
- Demonstrate competence in these areas by completing analytical and interpretative tasks in an exam setting, using diagrams, calculations, and clear economic reasoning.
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Reading List
Required textbooks
- Frank & Cartwright, Microeconomics and Behaviour (4th UK edition)
Suggested textbook (for maths)
- Renshaw, Maths for Economics (5th ¿ or any - edition) |
Additional Information
| Graduate Attributes and Skills |
Not entered |
| Keywords | Not entered |
Contacts
| Course organiser | Dr Sean Brocklebank
Tel: (0131 6)50 6955
Email: Sean.Brocklebank@ed.ac.uk |
Course secretary | |
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