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EC107: Economics 1

  • Alexander Karalis Isaac

    Module Lecturer
  • Robin Naylor

    Module Lecturer
30 CATS - Department of Economics

Principal Aims

To develop in students an understanding of fundamental and intermediate concepts in micro and macroeconomic analysis; to equip students with a range of appropriate analytical skills, including descriptive, graphical and mathematical methods; to develop the capacity to apply analytical techniques to real world problems.

Principal Learning Outcomes

To understand key concepts and principles in Economics

To demonstrate knowledge of economics trends, institutions and policies

To abstract and simplify economic problems through the application of theoretical models.

Syllabus

The module will typically cover the following topics:

Micro (term 1) - Market equilibrium, supply and demand; Household behaviour, choice and demand; Costs and Revenues; Market Structure and Firm Behaviour; The Firm's Factor Markets; Welfare Economics; International Trade. Macro (term 2) - Consumption, saving and investment; Aggregate demand, fiscal policy and foreign trade; IS and LM curve analysis; Fiscal and monetary policy; Aggregate supply; Open economy macroeconomics: the World economy; Economic growth and economic cycles.

Context

Pre or Co-requisites
For students outside of Economics, Grade B or better in Mathematics at A-level, or the equivalent. For Joint Degree Modern Language Students Grade A/Grade 7 in Mathematics at GCSE, or the equivalent.
Pre-requisite for
EC204, EC237
Restrictions
Not available to WBS students or students taking L100 or L116
Part-year Availability for Visiting Students
Not available on a part-year basis

Assessment

Assessment Method
Coursework (20%) + 3 hour exam (80%)
Coursework Details
Two assignments: Assignment 1 (10%), Assignment 2 (10%)
Exam Timing
May/June

Exam Rubric

Time Allowed: 3 Hours

Answer ALL FOUR questions in Section A (40 marks). Answer ONE question from Section B, ONE question from Section C, and ONE OTHER question, which may be from EITHER Section B or Section C (20 marks each). Answer Section A questions in one booklet, Section B questions in a separate booklet; and Section C questions in a separate booklet

Approved pocket calculators are allowed.

Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

Reading Lists