Run by Bangor Business School
20.000 Credits or 10.000 ECTS Credits
Semester 1 & 2
Organiser: Dr Yichen Zhu
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 macroeconomy. 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.
B- to B+ (60-69%): Very good performance 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.
D- to D+ (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+
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.
A- to A+ (70%+): Outstanding performance. 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
|Semester 2 exam||35.00|
|MCQ Test #1||3.75|
|MCQ Test #2||3.75|
|MCQ Test #3||3.75|
|MCQ Test #4||3.75|
|MCQ Test #5||3.75|
|MCQ Test #6||3.75|
|MCQ Test #7||3.75|
|MCQ Test #8||3.75|
|Individual Blog #1||17.50|
|Individual Blog #2||17.50|
Teaching and Learning Strategy
One 2-hour lecture each week
To include: - reading textbooks and related literature; - preparing for lectures; - reviewing lecture materials; - preparing for and completing MCQ tests; - revising for end of semester exam.
- 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.
Talis Reading listhttp://readinglists.bangor.ac.uk/modules/asb-1300.html
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:
- LL2B: BA Sociology & Economics (4 yr with Incorporated Foundation) year 1 (BA/ECS1)
- LL1B: BA Social Policy & Economics (4yr with Incorp Foundation) year 1 (BA/SPEC1)
- LL15: BA Social Policy and Economics with International Experience year 1 (BA/SPECIE)
- NN44: BSc Accounting and Banking with International Experience year 1 (BSC/ABIE)
- NN46: BSc Accounting and Banking (4 year with Incorp Found) year 1 (BSC/ACCB1)
- NL4B: BSc Accounting and Economics (4 year with Incorp Foundation) year 1 (BSC/ACCEC1)
- NL4F: BSc Accounting and Economics year 1 (BSC/ACCECF)
- NL4P: BSc Accounting and Economics with Placement Year year 1 (BSC/ACCECP)
- NL42: BSc Accounting and Economics with International Experience year 1 (BSC/AEIE)
- N2NC: BSc Business Man & Marketing (4 yr with Incorp Foundation) year 1 (BSC/BMM1)
- N5NF: BSc Business Management and Marketing year 1 (BSC/BMMF)
- N5NP: BSc Business Management and Marketing with Placement Year year 1 (BSC/BMMP)
- N101: BSc Business Studies year 1 (BSC/BS)
- N10B: BSc Business Studies (4 year with Incorporated Foundation) year 1 (BSC/BS1)
- NNM1: BSc Business Studies & Marketing with Intl Experience year 1 (BSC/BSMIE)
- NN1M: BSc Business Studies and Marketing year 1 (BSC/BSMKT)
- NN1K: BSc Business Studies & Marketing (4 year with Incorp Found) year 1 (BSC/BSMKT1)
- IN00: BSc Computer Information Systems for Business year 1 (BSC/CISB)
- IN0B: BSc Computer Information Sys for Bus (4 year w Incorp Found) year 1 (BSC/CISB1)
- IN02: BSc Computer Information Systems for Business (Franchised) year 1 (BSC/CISBF)
- L112: BSc Financial Economics with International Experience year 1 (BSC/FEIE)
- L11B: BSc Financial Economics (4 year w Incorporated Foundation) year 1 (BSC/FINEC1)
- L11F: BSc Financial Economics year 1 (BSC/FINECF)
- L11P: BSc Financial Economics with Placement Year year 1 (BSC/FINECP)
- M1NB: LLB Law with Accounting & Finance (4yr with Incorp Found) year 1 (LLB/LAF1)
- M103: LLB Law with Accounting & Finance (Intl Exp) year 1 (LLB/LIA)
Optional in courses:
- 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)
- N1R4: BA Business Studies with Spanish year 1 (BA/BSSP)
- N107: BA Business year 1 (BA/BUS)
- N5R6: Marketing with French with International Experience year 1 (BA/MKTFRIE)
- N312: BSc Banking with Financial Tech year 1 (BSC/BKFT)
- N2NF: BSc Business Man with Account (4 yr with Incorp Foundation) year 1 (BSC/BMA1)
- N3NF: BSc Business Management with Accounting year 1 (BSC/BMAF)
- N2NP: BSc Business Management with Accounting with Placement Year year 1 (BSC/BMAP)
- L1N3: BSc Economics and Finance (subject to validation) year 1 (BSC/ECF)
- L110: BSc Economics (Subject to Validation) year 1 (BSC/EN)
- N2N6: BSc Management with Human Resource Management year 1 (BSC/MHRM)
- N501: BSc Marketing year 1 (BSC/MKT)
- N50B: BSc Marketing (4 year with Incorporated Foundation) year 1 (BSC/MKT1)
- N50F: BSc Marketing year 1 (BSC/MKTF)
- N50P: BSc Marketing with Placement Year year 1 (BSC/MKTP)
- M100: LLB Law year 1 (LLB/L)
- M11B: LLB Law (4 year with Incorporated Foundation) year 1 (LLB/L1)
- M102: LLB Law (International Experience) year 1 (LLB/LI)
- M10P: LLB Law with Placement Year year 1 (LLB/LP)