Module Catalogue 2022/23

ECO1017 : Introductory Economics

  • Offered for Year: 2022/23
  • Module Leader(s): Dr Marco Lorusso
  • Lecturer: Dr Ian Corrick
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
Semesters
Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0
Pre Requisites
Pre Requisite Comment

None

Co Requisites
Co Requisite Comment

None

Aims

To introduce basic concepts in economics to students not progressing to study degree in economics.

Outline Of Syllabus

Demand and Supply; Market Structure, Input markets; Welfare; Governing the Market;
Aggregate demand and supply; Money and interest rates; inflation and unemployment;
Open economy; Business Cycles

Learning Outcomes

Intended Knowledge Outcomes

Basic understanding of Microeconomics and Macroeconomics concepts.

Intended Skill Outcomes

Ability to apply economics concepts to analyze a range of problems and issues.

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Structured Guided LearningLecture materials21:002:00pre-recorded, (1 S1, 1 S2)
Scheduled Learning And Teaching ActivitiesLecture271:0027:00PIP lectures (13 S1, 14 S2)
Guided Independent StudyAssessment preparation and completion160:0060:00time for students to complete formative and summative coursework&assessments
Guided Independent StudyDirected research and reading166:0066:00estimated based on 3 hours per teaching week
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00PIP seminars (3 S1, 3 S2)
Guided Independent StudyIndependent study139:0039:00balance to equal 200 overall
Total200:00
Jointly Taught With
Code Title
ECO1090Introductory Economics (Study Abroad S2)
Teaching Rationale And Relationship

Lectures provide overview. Small group classes support learning through exercises and opportunity for discussion.

Reading Lists

Assessment Methods

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Written Examination1202A100N/A
Exam Pairings
Module Code Module Title Semester Comment
ECO1020Introductory Macroeconomics2N/A
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MIn one seminar students will discuss a planned answer to a mock exam question
Prob solv exercises2MIn one seminar students will discuss a planned answer to a mock exam question
Assessment Rationale And Relationship

Multiple-choice questions test breadth of knowledge.
Short answers show depth over a range of topics.


In the case of an alternative semester 2 assessment (worth 100% of the overall module mark) being necessary due to circumstances, the module leader will in the first instance consult with the DPD as to the requirements of the professional accrediting body to discuss possible acceptable alternatives. In 2020/21 this alternative was a 24 hour take home exam delivered online, and it is envisioned that if circumstances do not allow a present-in-person timed exam at the end of semester 2, and the professional body agrees, than this may well be an example of the type of alternative assessment which could be put in place.

Timetable

Past Exam Papers

General Notes

N/A

Disclaimer: The information contained within the Module Catalogue relates to the 2022/23 academic year. In accordance with University Terms and Conditions, the University makes all reasonable efforts to deliver the modules as described. Modules may be amended on an annual basis to take account of changing staff expertise, developments in the discipline, the requirements of external bodies and partners, and student feedback. Module information for the 2023/24 entry will be published here in early-April 2023. Queries about information in the Module Catalogue should in the first instance be addressed to your School Office.