AP1EE3-Economics 1

Module Provider: Agr and Food Econ
Number of credits: 10 [5 ECTS credits]
Terms in which taught: Autumn term module
Non-modular pre-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Prof Nikos Georgantzis

Email: n.georgantzis@reading.ac.uk

Summary module description:
The module aims to provide an introduction to economics with the emphasis on gaining an understanding of fundamental microeconomic theory and a basic knowledge of macroeconomic issues.

The module aims to provide an introduction to economics whereby students gain an understanding of key micro and macro economic principles and their relevance to some of the fundamental challenges facing society across the globe.

Assessable learning outcomes:
By the end of this course students should be able to:
Describe basic microeconomic and macroeconomic principles and theories
Apply these theories and principles to the consideration of economic problems
Apply economic theories and tools to solve simple economic questions

Additional outcomes:
Analytical and problem solving skills will be developed. Business awareness skills will be developed in terms of students learning about the economic conditions under which businesses operate.

Outline content:
•What is economics?
•Key Economic Challenges of Society
•Economic systems
•Markets and the forces of Supply and Demand
•Elasticity and Its Application
•Perfect competition and Monopoly
•Market Failure– Efficiency and Equity issues
•Markets and Government Intervention
•The National Economy
•Overview of Macroeconomic Issues

Brief description of teaching and learning methods:
Lectures will be supplemented with in-class participatory exercises & ‘games’ designed to enhance understanding of theoretical concepts. The main text for the module is supported by an interactive e-learning environment with numerous practical exercises to develop understanding of economic principles and applications. The module has a blackboard site with key material for the module.

Contact hours:
  Autumn Spring Summer
Lectures 20
Guided independent study 80
Total hours by term 100.00
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Oral assessment and presentation 10
Class test administered by School 90

Other information on summative assessment:
Two multiple choice tests: 90% of final mark
Class participation: 10% of final mark

Formative assessment methods:

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
    You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

    Length of examination:

    Requirements for a pass:
    A mark of 40% overall

    Reassessment arrangements:
    By re-examination in August/September only

    Additional Costs (specified where applicable):
    1) Required text books:
    2) Specialist equipment or materials:
    3) Specialist clothing, footwear or headgear:
    4) Printing and binding:
    5) Computers and devices with a particular specification:
    6) Travel, accommodation and subsistence:

    Last updated: 21 December 2016

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