Unit information: Economics in 2020/21

Unit name	Economics
Unit code	EFIMM0108
Credit points	20
Level of study	M/7
Teaching block(s)	Teaching Block 1 (weeks 1 - 12)
Unit director	Dr. Katerina Raoukka
Open unit status	Not open
Pre-requisites	None
Co-requisites	None
School/department	School of Economics
Faculty	Faculty of Social Sciences and Law

Description including Unit Aims

This aim of this course is to provide an analytical introduction to the core concepts of microeconomics and macroeconomics. It studies the decisions of individual economic agents and covers behaviour in goods and labour markets highlighting the role of government and policy makers. Using real-world case studies, the unit provides an introduction to current domestic and foreign economic shocks, the basic ideas in game theory and in firm behaviour. The course analyses and interprets economic models which are used to understand key issues in economics.

Topics to be covered include:

• Choice, preference and utility
• Game theory
• Industrial strategies
• Unemployment and inflation
• Monetary and fiscal policy
• International trade

Intended Learning Outcomes

Upon completion this unit, students will be able to:

1. Describe, explain and interpret basic economic models and their results.
2. Develop powers of inquiry, critical analysis and logical thinking, and their ability to apply theoretical knowledge in economics through a project that requires both technical and narrative skills.
3. Execute, implement, infer and criticise economic concepts through challenging multiple-choice questions restricted by time.
4. Synthesise information from a variety of sources (lectures, databases and textbooks).
5. Work effectively and independently to analyse simple theoretical approaches in the field of economics.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Information

Coursework (70%)

3x MCQ tests (10% each

Reading and References

Jones, C.I. (2018) Macroeconomics, 4th edn. W.W Norton &Company, Inc.

Mankiw, G and Taylor M. (2014) Macroeconomics, European Edition.

Varian, Hal R. Intermediate Microeconomics: A Modern Approach, the most recent edition, New York: W.W. Norton Co.

Dixit A, Skeath S, Reiley D. (2014) Games of Strategy, 4th edn. W.W Norton &Company, Inc.