Introductory Economics

Module Code	ECNU115
Semester	Spring
Prerequisite	Registration for a B.Acc. programme. Not open to students who have passed ECNU111 or ECNU112.
SCQF Level	8
Credit value	20
Module Co-ordinator	Dr Siobhan Lucey
Assessment	40% Coursework (2 Class Tests), 60% Examination

Module Description

This module covers both microeconomics (the operation of individual markets and the behaviour of firms) and macroeconomics (the determination of national income, unemployment, inflation and government policies to control the economy).

Module Objectives

Economics and the Economy
Demand, supply and the market (including elasticities of demand and supply)
The Firm: Costs, revenue and profit maximisation
Market structures
Measuring national income and output
Determination of national income/output
Money and Monetary Policy
Inflation and Unemployment

Learning Outcomes

Knowledge and understanding of

Key concepts of microeconomics

The economic problem of scarcity
Supply and demand, elasticity
Costs, revenue and profit maximisation
Market structures

Key concepts of macroeconomics

National Income measurement
National Income determination
Money
Unemployment and inflation

Preparatory Work

Gillespie, Foundations of Economics, Oxford

This module information is representative of what is included in the module in a given year. Details of actual reading, lectures and coursework may vary year to year and will be available at the beginning of the semester.