EC103-Economics for Construction & Engineering

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Terms in which taught: Spring term module
Non-modular pre-requisites: Available only to students in the Faculty of Science
Modules excluded: EC113 Introductory Microeconomics and EC114 Introductory Macroeconomics and IC103 Introductory Economics for Business and Finance and
Module version for: 2016/7

Module Convenor: Dr Maria Asensio


Summary module description:
The module aims to provide a basic introduction to economics.

The module aims to provide a basic introduction to economics sufficient for an elementary understanding of the operation of a market economy.

Assessable learning outcomes:
The module emphasises the understanding of economic principles and key tools of analysis in micro and macroeconomics. Upon completion of the module, students should be able to: *Analyse the process of resource allocation in a market system; *Explain the output and pricing decisions of the firm under different competitive conditions; *Understand the process of national income determination; *Understand contemporary economic discussions of unemployment, inflation and exchange rates and their principal implications for macroeconomic policy.

Additional outcomes:
The module will assist students in developing an overall awareness of the workings of the economy, the operation of macroeconomic policy and their significance on business decisions and outcomes. The module will enhance students' analytic skills.

Outline content:

  • Introduction to markets and pricing. How the market system works.
  • Production and the firm.
  • National income determination. National economic policy.
  • Unemployment and inflation.
  • The international economy.

Brief description of teaching and learning methods:
Lectures, web-based learning and guided independent study.

Contact hours:
  Autumn Spring Summer
Lectures 20 2
Tutorials 5
Guided independent study 55 18
Total hours by term 80.00 20.00
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Written exam 75
Written assignment including essay 15
Class test administered by School 10

Other information on summative assessment:
Coursework has a total weight of 25% in the final mark for this module. It will comprise of one class test which will count for 10% of the mark, and one essay which will count for the remaining 15%.

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:
    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:
    One two-hour examination in the Summer term.

    Requirements for a pass:
    A minimum mark of 40%.

    Reassessment arrangements:
    Re-examination for Part 1 modules takes place in August/September of the same year.

    Additional Costs (specified where applicable):
    1) Required text books:
    2) Specialist equipment or materials:
    3) Specialist clothing, footwear or headgear:
    4) Printing and binding: There may be optional costs associated with photocopying or printing sources listed on the reading list relating to this module. Please note that the Library charges approximately 5p per photocopy.
    5) Computers and devices with a particular specification:
    6) Travel, accommodation and subsistence:

    Last updated: 21 December 2016

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