Introductory Economics ECON1010
- Academic Session: 2021-22
- School: Adam Smith Business School
- Credits: 20
- Level: Level 1 (SCQF level 7)
- Typically Offered: Semester 2
- Available to Visiting Students: Yes
- Available to Erasmus Students: Yes
This course will introduce students to the study of Economics covering all the main areas of interest in both microeconomics and macroeconomics. The course is specifically designed to comply with the accreditation requirements of the various accounting bodies. However, it is also appropriate for other students in year 2 or above who would like to acquire a basic knowledge of Economics.
Lectures - 3 hours per week for 10 weeks
Tutorials - 1 hour per week for 8 weeks.
ECON 1001, ECON 1002 (Economics 1A, Economics 1B)
A 1-hour In-course examination (20%) and 2-hour degree examination (80%)
1, 2, 3, 4
Main Assessment In: April/May
The general aims of this course are to:
■ provide an overall introduction to the working of the economy as a whole,
■ provide a sound understanding of the definitions and the use of economic indicators,
■ provide a sound understanding and suggest ways to analyse the role and behaviour of the government, firms and consumers;
■ enable students to participate in debates/ discussions on issues in economics
■ encourage the student to take responsibility for their own learning (self-directed learning), and to acquire skills relevant to a wide range of situations beyond this course: how to think analytically and to express themselves clearly and directly.
Intended Learning Outcomes of Course
By the end of this course, students should be able to:
1. apply economic models to analyse the economy and its participants;
2. deploy techniques of economic analysis within a problem solving context;
3. analyse the firm's choice of inputs and outputs in various types of markets;
4. use good insight into the foundation and role of consumer demand function;
5. define the main concepts/ economic indicators and describe the models and methods used in economic analysis
6. analyse the role of the government;
7. analyse the effect of exogenous shocks on the economy;
8. construct focused arguments based on coherent general principles.
Minimum Requirement for Award of Credits
Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.