Gwybodaeth Modiwlau
Module Identifier
EC10120
Module Title
Economic Principles and Skills 1
Academic Year
2019/2020
Co-ordinator
Semester
Semester 1
Also available in
Co-Requisite
MA12610 (unless exempted)
Mutually Exclusive
Course Delivery
Assessment
| Assessment Type | Assessment length / details | Proportion |
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Learning Outcomes
On successful completion of this module students should be able to:
- Explain how markets coordinate economic activity and produce equilibrium prices and quantities;
* Assess the mutual benefit from trade between individuals and between countries;
* Describe optimising behaviour by households and firms;
* Discuss the effects of alternative market structures and evaluate market outcomes for policy purposes;
* Identify quantitative relationships and the formulae underlying models;
* Develop the ability to follow logical arguments;
* Have enhanced capacity to recognise and solve problems.
Aims
To introduce students to the principles underlying economics, using illustrations from the study of markets and the macroeconomy.
Brief description
This modules introduces students to the fundamental principles underlying microeconomics and macroeconomics. It provides key analytical concepts and helps to develop the skills, knowledge and understanding required to work in management and business from a specialist perspective, for students taking single, major or joint honours Economics, Business Economics and Business Finance.
Content
- Introductory Microeconomics
- What is Economics?
- Demand and Supply
- Government Intervention in Markets
- Measuring the Efficiency of Markets
- Goods which Impose Costs on Others
- The Tax System
- Introductory Macroeconomics
- Measuring Economic Activity
- The Determinants of Macroeconomic Acitivity
- Inflation, Deflation and Unemployment
Notes
This module is at CQFW Level 4