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.

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