Download Economics Module description

English Language Centre
International Science Foundation Programme
2015-16
Economics
Module description
The module is designed to introduce and build an understanding of economics at the
foundation level; there is an assumption of no prior knowledge of economics. It is designed
to enable students to use economic models and skills to analyse real life economic
problems; and covers both microeconomics and macroeconomics.
The first term begins with an overview of the programme, an overview of Economy
activities, and background to Supply and Demand. Issues such as scarcity, price controls
and quotas, taxation, profit maximisation under different types of competitions are
discussed to give an overall grounding to the study of economic ideas and theories, and
attention is paid to economic theory and different types of research and data collection.
The second half of the first term and the beginning of term 2 further focuses on the micro
economy and government microeconomic policies, such as policies to redistribute income,
production, consumption and externalities. Microeconomic issues covered will include
markets, efficiency, public interest and the connection with government intervention
policies.
The remainder of the module focusses on the macroeconomy, investigating the issues of
short-run and long-run macroeconomic equilibrium, money and interest rates, inflation,
balance of payments, and trade policies such as protectionism. The role of government
intervention in these areas is also explored, looking at monetary vs fiscal policies, policies
to control inflation and maintain equilibrium of payments. Though the module focusses on
economic principles in general, particular focus will be paid to economic issues in the UK,
US and European Union.
Educational aims

to provide you with an understanding of the main theoretical and functional areas of
economics

to develop an understanding of the key influences in the economic and social
environment on the decision-making and behaviour of governments and
organisations
English Language Centre
International Science Foundation Programme
2015-16



to introduce you to the main conclusions derived from economic analysis and
develop your understanding of economic implications
to ensure familiarity with some of the main sources of information and databases
for the study of economics
to increase your ability, with appropriate support, to take responsibility for your
own learning
Learning outcomes
By the end of the module, you will be able to demonstrate the intellectual, transferable and
practicable skills appropriate to this level of module and in particular will be able to:
 describe the nature and terminology of economic theories and policies
 explain the changing nature and role of economic interventions
 have an understanding of the key features of the academic discipline of economics
 demonstrate an understanding of economics research and case studies
 distinguish between fact and opinion, between what is relevant and what is not and
between opposing views based upon conflicting evidence
 be familiar with basic statistical and mathematical forms of analysis used in
economics
 research a topic, extract and synthesise information from a range of written and
spoken sources, and formulate a response
 analyse and critically assess information from a variety of texts and come to an
informed conclusion with limited guidance
 understand lectures in English and actively participate in seminars
 research, develop and deliver a presentation around the topic of a lecture, during a
seminar
 master the skills of independent learning and time management
 demonstrate increased experience of working creatively and flexibly as part of an
academic group
 demonstrate appropriate linguistic skills in defined and predictable contexts.
Reading
Text books
Anderton, A., (2008) Economics (fifth edition), Causeway Pearson, Harlow, Essex.
Bamford, C. & Grant, S. (2010) Cambridge International AS and A Level Economics (2nd
edition), Cambridge University Press, Cambridge
English Language Centre
International Science Foundation Programme
2015-16
Begg, D., Fischer, S. & Dornbusch, R., (20085) Economics (ninth edition), McGraw Hill
Education, Maidenhead, UK
Sloman, J., (20039) Essentials of Economics (fifth edition), Pearson, Harlow, Essex.
Prentice Hall.
Dictionaries
Bancock, G. et al (eds) (2004) Penguin Dictionary of Economics, London
Rutherford, D. (2002) Routeledge Dictionary of Economics (2nd edition), Routledge, London
Useful websites
http://www.economicsnetwork.ac.uk/teaching/text.htm
http://economics.about.com/od/whatiseconomics/u/economic_basics.htm
http://ingrimayne.com/econ/TOC.html
http://www.tutor2u.net/economics/revision-notes/