Economics 1

University of Reading

Course Description

  • Course Name

    Economics 1

  • Host University

    University of Reading

  • Location

    Reading, England

  • Area of Study


  • Language Level

    Taught In English

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • ECTS Credits

  • Recommended U.S. Semester Credits
  • Recommended U.S. Quarter Units
  • Overview

    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: 2014/5
    Module Convenor: Mr Nick Beard
    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:
    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 Convener 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.
    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
    Last updated: 8 October 2014

Course Disclaimer

Courses and course hours of instruction are subject to change.

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ECTS (European Credit Transfer and Accumulation System) credits are converted to semester credits/quarter units differently among U.S. universities. Students should confirm the conversion scale used at their home university when determining credit transfer.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.


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