PROPOSAL FOR A NEW PART II MODULE: BUSINESS …



UNIVERSITY OF KENT

Module Specification

1. Title:

Economics Mode A (EC304)

2. Level:

C, first year (FHEQ Level: 4)

3. Credits:

30

4. Pre/corequisite units:

A Level Economics or an equivalent course

5. Target Intake:

120 students

Contact hours:

48 hours of lectures and 24 hours of seminars.

Hours of study:

Approximately 7 hours per week in addition to lectures/seminars and in total 10 hours a week during term time. This makes a total work load of 300 hours.

6. Rationale:

This is an introductory economics module for students who have previously completed a comprehensive introductory course in Economics at A-level or equivalent. Students following economics degree programmes have to take either this module or the corresponding mode B module.

Aims:

The course aims to provide a thorough understanding of economics at an introductory level. It is designed for students who have already taken A-Level economics or an equivalent course. The emphasis in the first term is on developing understanding of the market allocation of goods and services. This material will provide the basis for all subsequent study students may undertake in economics. In the second term, a framework for understanding macroeconomic policy will be developed. Throughout the course, and in the seminars in particular, demonstration will be made of the usefulness of economics as an analytical tool for thinking about real world problems. The module will prepare students for studying economics at Part II level, either as a part of an Economics degree programme or as part of another degree programme.

Objectives:

By the end of the module, students will have:

i) extended their knowledge of economics beyond that gained in A-level or equivalent courses.

ii) improved their understanding of economic problems confronted by individuals, firms, governments and countries.

iii) gained an understanding of how economists tackle economic problems.

iv) improved their analytical skills.

v) developed their ability to present a logical, coherent argument in seminars and essay answers.

7. Organisation and Content

The module is structured around 48 lectures and an integrated seminar programme. There are 2 lectures and one seminar a week during the 24 week teaching period. A large amount of supporting material is issued detailing the content of lectures, seminar discussion topics and a wide variety of seminar questions. The teaching of skills is integrated into the module materials. All the module materials are available on the electronic course folder system.

The topics considered in the module include: scarcity and markets, demand and supply consumer choice, theory of supply, the range of market structures, labour markets, economic methodology, economic systems, poverty and income distribution, welfare economics, national income accounting, the determinants of national income, money and banking, the monetary system, monetary and fiscal policy, aggregate supply, unemployment, inflation, the open economy and economic growth.

8. Teaching Methods:

Lectures introduce the basic principles of economics and the application of economic analysis to a variety of issues. The seminars cover a series of key concepts for investigation and a wide range of questions for discussion. The Students are given advice on using WinEcon, a computer based economics learning package that is made available on the network.

Skills

The skills required for this introductory module are the ability to write economics essays, communicate in seminar discussions, think through and present logical arguments, critical analysis of arguments, thinking from first principles, abstraction, problem-solving and decision-making. The teaching of these skills is integrated into the lecture and seminar programme. Students are encouraged to word-process their essays and use WinEcon.

Relationship of Skills to Objectives

The skills involved in studying economics will be developed, taught and discussed throughout the year in the seminar programme. An early seminar class will be devoted to study skills and, in particular, essay writing, with examples taken from the assessment document and past exam papers. An economics skills document is distributed to all students taking this module and all student taking economics degree will enter on a programme of skills development. This structured approach contributes to the achievement of the course objectives.

9. Assessment and Examination Methods

The final mark on this module is a weighted average of the coursework mark (calculated from two timed essays/questions chosen from a list, and two one-hour tests and it receives a 20% weight) and the examination mark (a three hour examination in May/June with ten short questions requiring students to state and explain whether a statement is true or false or whether the truth/falsity depends on further assumptions, plus one microeconomics essay chosen from four and similarly for a macroeconomics essay; the exam mark receives a 80% weight).

Course work develops students' analytical, problem solving and essay writing abilities across all the module subject matter. The development of these skills contribute to the achievement of all the objectives. Advice and materials on economics essay writing is given in seminars and in a study skills booklet. This is followed up through feedback on the assessed coursework, which is structured around coversheets and clearly set out marking criteria.

The examination questions and essays are based on all the module material. The examination's mix of short questions and longer essays assesses students’ analytical economic skills as well as the knowledge they have acquired about economics and the economy. The examination tests the ability of students to show they understand and can apply economic analysis through writing exam essays. The examination directly tests, and leads to the development, of all the objectives.

Students who have difficulties in this module are identified in week 6 and are closely monitored.

10. Reading:

Main Text:

David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 9th Edition, McGraw-Hill, 2008

The periodical The Economic Review.

11. Feedback:

Through a module evaluation form, the Staff-Student Consultative Committee and informal feedback. The evidence and resulting decisions are reported back to students through the Consultative Committee after discussion at the Economics Teaching Committee and School Meetings. The School’s Teaching Committee follows up the these reports and the actions that may be necessary to improve the quality of teaching.

12. Resources:

Library - Purchasing new editions of books or new copies when new texts become available.

Staff - This or a similar module has taught for the last 30 years and a number of staff have experience of lecturing this module. Seminar leaders are provided with extensive module materials and undergo an induction course.

Timetable - Provision in the timetable already exist for the lectures and seminars.

Convenors:

Amanda Gosling/William Collier

Approval:

This module has been examined and discussed by the School of Economics and the HoD's signature signifies School approval.

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