Undergraduate Course: Economics: an introduction (LLLJ07005)

Course Outline
School	School of Social and Political Science	College	College of Humanities and Social Science
Credit level (Normal year taken)	SCQF Level 7 (Year 1 Undergraduate)	Availability	Not available to visiting students
SCQF Credits	10	ECTS Credits	5
Summary	This course is not available to University of Edinburgh matriculated students. This is a for-credit course offered by the Office of Lifelong Learning (OLL); only students registered with OLL should be enrolled. Learn about basic micro-economics in a way that uncovers the connection between individual action and wider changes. Learn to predict the effects of others' decisions and maximise your own influence. An introduction to the way the market operates and to the factors involved in the creation of wealth.
Course description	Content of course 1. Introduction to course and assessment 2. Demand 1 3. Demand 2 4. Supply 1 5. Supply 2 6. Factors of production 7. Economic systems 8. Costs 9. Profit maximisation 10. Profit maximisation continued and alternatives to profit maximisation

Course Delivery Information

Academic year 2017/18, Not available to visiting students (SS1)		Quota: 20
Course Start	Lifelong Learning - Session 2
Timetable	Timetable
Learning and Teaching activities (Further Info)	Total Hours: 100 ( Seminar/Tutorial Hours 20, Programme Level Learning and Teaching Hours 2, Directed Learning and Independent Learning Hours 78 )
Assessment (Further Info)	Written Exam 0 %, Coursework 100 %, Practical Exam 0 %
Additional Information (Assessment)	Open Studies 10 credit courses have one assessment. Normally, the assessment is a 2000 word essay, worth 100% of the total mark, submitted by week 12. To pass, students must achieve a minimum of 40%. There are a small number of exceptions to this model which are identified in the Studying for Credit Guide.
Feedback	Not entered
No Exam Information

Learning Outcomes
By the end of the course, participants should be able to: . For a variety of circumstances, predict the influence on the equilibrium price of changes in factors affecting supply and demand; . Suggest ways in which real-life problems such as shortages, queues, black markets, rationing, over-supply and wastage can be addressed by either price movements or government initiated shifts in demand and supply; . Relate their own individual economic actions to society and to the economy as a whole.

Reading List
Essential Harvey, J., 1999. Mastering Economics, 5th ed., London: Macmillan Recommended Marchbanks, D., 2012. You Can Pass Economics. [e-book] Los Gatos, Ca: Smashwords. Available through: Smashwords [Accessed 10 July 2012]. Web sources Economics theory - www.bized.ac.uk Class handouts Handouts will be provided when required.