1. Demonstrate a knowledge and understanding of key economic concepts and principles.
Knowledge and Understanding

2. Understand and apply basic statistics and understand how these can be important for economic analysis.
Application
Problem Solving
Analysis

3. Apply economic analysis to different business and/or societal situations.
Application
Analysis

4. Analyse responses to dynamic externalities.
Analysis
Application

1. Initial class test – MCQs (0.5hrs) (15%) (LO1)
2. Individual exam consisting of multiple-choice questions, basic calculations, graphs and figures, and critical analysis - Closed book exam. (1.5 hrs) (85%) (LOs 2-4)

This module is aimed towards your understanding of decision making, business investment and spending, including optimisation of productions towards profit generation. It will also help you to obtain a better understanding of the respective economic policies undertaken by the government.

The knowledge you will gain will be your most reliable guide in understanding market and firm behaviour, and government decisions.

Economic efficiency, including the coverage of externalities and public goods, will be also studied. Throughout the module, emphasis will be on the application of theory to practical problems and policy issues. The statistics/calculations required for understanding the concepts and models will be integrated into the deliveries.

In this module, you will explore how markets have evolved and how they will continue to evolve, and the role businesses and governments have in ensuring the sustainability of our planet for future generations.

The module delivery consists of the following:
1. “Flipped” videos that you watch before lectures. These videos have class activities at the end of them that you must attempt before lectures.
2. A section of the lectures where you go over the flipped video class activities with the lecturer.
3. The rest of the weekly lecture.
4. A tutorial session where tutorial questions are discussed and answered.

The flipped classroom approach via the flipped videos intentionally shifts instruction to a learner-centred model in which class time explores topics in greater depth and creates meaningful learning opportunities. You can watch the flipped videos at a convenient time provided they are watched before the lectures.

The lectures will be interactive meaning that you are required to engage in study materials by answering the questions posed by the lecturer related to materials studied. Furthermore, you will be strongly encouraged to follow economic related news and associate them with the topics covered during lectures. By doing that, you will develop an understanding of the materials covered and expand on the knowledge gained in the lectures.

A tutorial session will contribute to a thorough understanding of the module concepts and issues with the aim of testing your understanding and developing problem-solving skills. Specifically, this will include solving practical or in-practice multiple-choice questions or/and calculations. Also, by using case studies you will explore how economic theory is applied in real-world situations and this will help to apply your learning to the real world."

You will undertake ‘formative’ assessments during the module to help you monitor your learning and provide you and us with ongoing feedback on your progress, that helps you prepare for the ‘summative assessment(s) during or at the end of the module.

Gillespie, A. (2019). Foundations of Economics – Fifth edition. New York: Oxford University Press. [Hardcopy or E-book]. Mankiw, N. (2020). Economics - Fifth edition: Cengage.

LinkedIn Learning
The University Library and Learning Resources - books and academic journals
The module VLE
Electronic data bases
Learning support materials
Online Tools, Internet

www.bbc.co.uk/news/business
www.theguardian.com/uk/business
www.timesonline.co.uk
www.ft.com
www.economist.com
www.independent.co.uk
www.businessweek.com
http://www.frbsf.org/education/
http://www.studyingeconomics.ac.uk/
http://economics.about.com/
http://www.economicsonline.co.uk/index.html

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