Undergraduate Course: Economics 1 (ECNM08013)
Course Outline
| School | School of Economics |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 8 (Year 1 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 40 |
ECTS Credits | 20 |
| Summary | This calculus-based 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 focuses on developing and using models of supply and demand in microeconomic (individual market) contexts. The second semester considers macroeconomic (aggregate, economy-wide) phenomena. It looks in greater depth at national income accounting, economic growth, money and inflation; labour markets and unemployment.
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; Compound & Continuous Growth; Calculus of Growth.) are developed and applied to economic contexts as an integral part of the course.
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 Applications a more suitable alternative. Students who have not previously studied economics may find it useful to take Economic Principles and Applications alongside Economics 1. |
| Course description |
Not entered
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | A background in mathematics beyond GCSE level is recommended. Students with a weaker maths background will need to be prepared to work at developing their maths skills. |
Information for Visiting Students
| Pre-requisites | None |
Course Delivery Information
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| Academic year 2015/16, Available to all students (SV1)
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Quota: 100 |
| Course Start |
Full Year |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
400
(
Lecture Hours 58,
Seminar/Tutorial Hours 36,
Summative Assessment Hours 8,
Programme Level Learning and Teaching Hours 8,
Directed Learning and Independent Learning Hours
290 )
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| Assessment (Further Info) |
Written Exam
80 %,
Coursework
20 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
3 mid-semester multiple choice class exams (each worth 10%, best 2 out of 3): 20%
December class exam (written): 10%
Essay (semester 2): 10%
Tutorial attendance and engagement (details in handbook): 10%
Degree Exam (May diet): 50%
Resit Exam (August diet): 100%
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| Feedback |
Not entered |
| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
|
| Main Exam Diet S1 (December) | | 1:30 | | | Main Exam Diet S2 (April/May) | | 3:00 | | | Resit Exam Diet (August) | | 3:00 | |
Learning Outcomes
After successful completion of this course the student will have knowledge and understanding of: supply & demand analysis of competitive markets - comparative statics; elasticities; and ability to apply analysis to e.g. goods and markets, taxes, regulation, international trade, and interacting markets. Competitive equilibrium and welfare; market failure. Economic growth, flex-price ('Classical') models of closed and open macroeconomies, money and inflation.
Ability to apply basic mathematical techniques in economic contexts: 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; Compound & Continuous Growth; Calculus of Growth.
General skills developed include: critical analysis and assessment; reasoning adaptably and systematically; problem-framing and problem-solving skills; numeracy and quantitative skills; obtaining and processing information from a variety sources; presentation and communication skills; interpersonal and group skills; computer and IT skills; independent action and initiative; managing tasks and time; coping with stress.
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Additional Information
| Graduate Attributes and Skills |
Not entered |
| Additional Class Delivery Information |
Three lectures per week, each lasting one hour. Weekly two hour Economics tutorials in both semester 1 and 2. |
| Keywords | Not entered |
Contacts
| Course organiser | Mr Sean Brocklebank
Tel: (0131 6)50 6955
Email: |
Course secretary | Ms Dawn Mcmanus
Tel: (0131 6)50 6946
Email: |
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