EC113-Introductory Microeconomics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:4
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites: GCSE Maths grade B
Co-requisites:
Modules excluded: EC103 Economics for Construction and Engineering and IC103 Introductory Economics for Business and Finance and AP1EE1 Economics 2 and AP1EE3 Economics 1
Module version for: 2017/8

Module Convenor: Dr Marina Della Giusta

Email: m.dellagiusta@reading.ac.uk

Summary module description:
To introduce students to the basic principles of microeconomics.

Aims:
To introduce students to the economic analysis of decision-making, how markets work, and how consumers and firms make their decisions. To enable students to progress to the study of intermediate level microeconomics.

Assessable learning outcomes:
At the end of the module students should be able to explain and demonstrate a critical understanding of the above principles. They should be able to apply these principles to various practical and policy issues.

Additional outcomes:
Students will be required to complete coursework such as problem sets. In the process of completing these types of assignments, students will learn skills required to understand relevant research and apply theoretical knowledge to real world situations.

Outline content:
Making rational decisions; demand and supply; the market mechanism; elasticity; theory of consumer behaviour; firm behaviour: production and costs; perfect competition; profit maximisation and cognitive limitations.

Brief description of teaching and learning methods:
The lectures will cover all the basic course material. Classes will cover material based on lecture topics and will provide time for students to ask questions about the lecture material.




Contact hours:
  Autumn Spring Summer
Lectures 30 1
Tutorials 9
Guided independent study 121 39
       
Total hours by term 160.00 40.00
       
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written exam 60
Written assignment including essay 40

Other information on summative assessment:

Two assignments will be set counting for 40% of the final mark for the module. 


Formative assessment methods:
Coursework will be set for most of the weekly classes, at which attendance is compulsory.

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:
    One 2 hour unseen written paper.
    Part 1 examinations are held 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. Reassessment is by examination only (coursework will not be included in the re-assessment).

    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: 15 September 2017

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