Run by Bangor Business School
20 Credits or 10 ECTS Credits
Semester 1 & 2
Organiser: Dr Rhys ap Gwilym
Overall aims and purpose
This module provides an introduction to Economics by following the syllabus of the CORE project (Curriculum in Open-access Resources in Economics). The CORE curriculum will equip students to understand how the economy has evolved and how it works by bringing advances in economics research over the past three decades, lessons from economic history and the comparative experience of different countries into the curriculum.
The module will provide an overview of the history of global economic development and introduce some of the tools and models that economists have used to explain this experience. The module will consider models of individual choice and game theory; models of firm behaviour and market interaction; as well as models of the macro-economy. These models will be used to help understand many of the features of both the past and the contemporary world, including population and economic growth; inequality; business cycles and climate change. The module will clarify measures of economic variables and deliberate concepts of economic efficiency.
60-69% Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
40-49% No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
C- to C+
50-59% Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
70% + An outstanding performance, exceptionally able. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
Demonstrate an understanding of the varying nature of economic institutions and the effects of government policy
Show understanding of analytical methods: apply core economic concepts and economic reasoning to applied topics
Demonstrate understanding of verbal, graphical and numerical representations of economic ideas and concepts
Demonstrate a knowledge of the broad history of economic development and key historical economic events
|COURSEWORK||Semester 1 coursework||
Comprising four online MCQ tests and four tutorial tasks.
|EXAM||Semester 1 exam 2hrs||30|
|EXAM||Semester 2 exam 2hrs||30|
|COURSEWORK||Semester 2 coursework||
Comprising four online MCQ tests and four tutorial tasks.
Teaching and Learning Strategy
One 2-hour lecture each week
- Literacy - Proficiency in reading and writing through a variety of media
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
- Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
- Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
Subject specific skills
- Abstraction. From the study of economic principles and models, students see how one can abstract the essential features of complex systems and provide a useable framework for evaluation and assessment of the effects of policy or other exogenous events. Through this, the typical student will acquire proficiency in how to simplify while still retaining relevance. This is an approach that they can then apply in other contexts, thereby becoming more effective problem-solvers and decision-makers.
- Analysis, deduction and induction. Economic reasoning is highly deductive, and logical analysis is applied to assumption-based models. However, inductive reasoning is also important. The development of such analytical skills enhances students' problem-solving and decision-making ability.
- Quantification and design. Data, and their effective organisation, presentation and analysis, are important in economics. The typical student will have some familiarity with the principal sources of economic information and data relevant to industry, commerce, society and government, and have had practice in organising it and presenting it informatively. This skill is important at all stages in the decision-making process.
- Framing. Through the study of economics, a student should learn how to decide what should be taken as given or fixed for the purposes of setting up and solving a problem, i.e. what the important 'parameters' are in constraining the solution to the problem. Learning to think about how and why these parameters might change encourages a student to place the economic problem in its broader social and political context. This 'framing' skill is important in determining the decision-maker's ability to implement the solutions to problems.
Carlin et al. (2016) “The Economy”. This is an open resource e-book published by the CORE project: http://www.core-econ.org/
Pre- and Co-requisite Modules
Courses including this module
Compulsory in courses:
- NQ26: BA Astudiaethau Busnes a Chymraeg year 1 (BA/ABCH)
- N400: BA Accounting and Finance year 1 (BA/AF)
- N401: BA Accounting & Finance (with International Experience) year 1 (BA/AFIE)
- N322: BA Banking and Finance year 1 (BA/BIF)
- NR33: BA Banking/Italian year 1 (BA/BIT)
- NN13: BA Business Studies and Finance year 1 (BA/BSF)
- NN14: BA Business Stud & Finance (with International Experience) year 1 (BA/BSFIE)
- N1R1: BA Bus Stud with French year 1 (BA/BSFR)
- N1R2: BA Business Studies with German year 1 (BA/BSGER)
- N1R3: BA Business Studies with Italian year 1 (BA/BSIT)
- NN15: BA Business Studies and Marketing year 1 (BA/BSM)
- NR34: BA Banking/Spanish year 1 (BA/BSP)
- N1R4: BA Business Studies with Spanish year 1 (BA/BSSP)
- NM11: BA Business and Law year 1 (BA/BUSALAW)
- N1T1: BA Business Studies and Chinese year 1 (BA/BUSCH)
- N100: BA Business Studies year 1 (BA/BUSS)
- NR1C: BA Business Studies/French year 1 (BA/BUSSF)
- NR1F: BA Business Studies and German year 1 (BA/BUSSG)
- NR1H: BA Business Studies and Italian year 1 (BA/BUSSI)
- N102: BA Business Studies (with International Experience) year 1 (BA/BUSSIE)
- NR1K: BA Business Studies and Spanish year 1 (BA/BUSSS)
- L1T1: BA Economics and Chinese year 1 (BA/ECCH)
- LR13: BA Economics/Italian year 1 (BA/ECIT)
- LL13: BA Sociology/Economics year 1 (BA/ECS)
- LR14: BA Economics/Spanish year 1 (BA/ECSP)
- R1NC: BA French with Business Studies year 1 (BA/FBS)
- NR31: BA French/Banking year 1 (BA/FRB)
- LR11: BA French/Economics year 1 (BA/FREC)
- R1N1: BA French with Marketing year 1 (BA/FRMKT)
- NR32: BA German/Banking year 1 (BA/GB)
- R2NC: BA German with Business Studies year 1 (BA/GBS)
- LR12: BA German/Economics year 1 (BA/GEC)
- R2N1: BA German with Marketing year 1 (BA/GERMKT)
- LV11: BA History/Economics year 1 (BA/HEC)
- N2N4: BA Management with Accounting year 1 (BA/MAF)
- N500: BA Marketing year 1 (BA/MK)
- N5R3: BA Marketing with Italian year 1 (BA/MKITAL)
- N5R1: BA Marketing with French year 1 (BA/MKTFR)
- NR51: BA Marketing and French (4 year) year 1 (BA/MKTFR#)
- N5R2: BA Marketing with German year 1 (BA/MKTGER)
- NR52: BA Marketing and German (4 year) year 1 (BA/MKTGER4)
- NR53: BA Marketing and Italian (4 year) year 1 (BA/MKTITAL)
- NR54: BA Marketing and Spanish (4 year) year 1 (BA/MKTSP)
- N5R4: BA Marketing with Spanish year 1 (BA/MKTSP#)
- R4N1: BA Spanish with Business Studies year 1 (BA/SPBS)
- LL14: BA Social Policy/Economics year 1 (BA/SPEC)
- R4N5: BA Spanish with Marketing year 1 (BA/SPMKT)
- NN44: BSc Accounting and Banking with International Experience year 1 (BSC/ABIE)
- NN43: BSc Accounting and Banking year 1 (BSC/ACCB)
- NL41: BSc Accounting and Economics year 1 (BSC/ACCEC)
- NN4H: BSc Accounting and Finance year (BSC/ACCFIN)
- N402: BSc Accounting & Finance (with International Experience) year 1 (BSC/ACCFINIE)
- NL42: BSc Accounting and Economics with International Experience year 1 (BSC/AEIE)
- L190: BSc Business Economics year 1 (BSC/BEC)
- N391: BSc Banking and Finance year 1 (BSC/BFIN)
- N101: BSc Business Studies year 1 (BSC/BS)
- NN1M: BSc Business Studies and Marketing year 1 (BSC/BSMKT)
- L111: BSc Financial Economics year 1 (BSC/FINEC)
- N2NK: BSc Management with Accounting year 1 (BSC/MWACC)
- 2R87: BSc Psychology with Business year 1 (BSC/PWB)
- C6N1: BSc Sport Science & Business Management year 1 (BSC/SSB)
- M1N4: LLB Law with Acc and Finance year 1 (LLB/LAF)
- M1N1: LLB Law with Business Studies year 1 (LLB/LBS)
Optional in courses:
- IN00: BSc Computer Information Systems for Business year 1 (BSC/CISB)
- GN41: BSC Computer Science for Business year 1 (BSC/CSFB)
- M100: LLB Law year 1 (LLB/L)