EC103-Economics for Construction & Engineering
Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Level:4
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded: EC113 Introductory Microeconomics and EC114 Introductory Macroeconomics and IC103 Introductory Economics for Business and Finance
Current from: 2019/0
Email: m.j.asensio@reading.ac.uk
Type of module:
Summary module description:
The module aims to provide a basic introduction to economics.
Aims:
The module aims to provide a basic introduction to economics sufficient for an elementary understanding of the operation of a market economy.
Assessable learning outcomes:
The module emphasises the understanding of economic principles and key tools of analysis in micro and macroeconomics. Upon completion of the module, students should be able to:
* Analyse the process of resource allocation in a market system;
* Explain the output and pricing decisions of the firm under different competitive conditions;
* Understand the process of national income determination;
* Understand contemporary economic discussions of unemployment, inflation and exchange rates and their principal implications for macroeconomic policy.
Additional outcomes:
The module will assist students in developing an overall awareness of the workings of the economy, the operation of macroeconomic policy and their significance on business decisions and outcomes. The module will enhance students' analytic skills.
Outline content:
* Introduction to markets and pricing. How the market system works.
- Production and the firm.
- Market failures.
- National income determination. National economic policy.
- Unemployment and inflation.
- The international economy.
Brief description of teaching and learning methods:
Lectures, web-based learning and guided independent study.
| Autumn | Spring | Summer | |
| Lectures | 20 | 2 | |
| Tutorials | 5 | ||
| Guided independent study: | 55 | 18 | |
| Total hours by term | 20 | 2 | |
| Total hours for module | 100 |
| Method | Percentage |
| Written exam | 60 |
| Practical skills assessment | 20 |
| Set exercise | 20 |
Summative assessment- Examinations:
One two-hour examination in the Summer term.
Summative assessment- Coursework and in-class tests:
Coursework has a total weight of 40% in the final mark for this module. It will comprise of two on-line tests which will count for 20% of the mark, and one practical exercise which will count for the remaining 20%.
Formative assessment methods:
Penalties for late submission:
The Module Convener will apply the following penalties for work submitted late:
The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
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.
Assessment requirements for a pass:
A minimum mark of 40%.
Reassessment arrangements:
Re-examination for Part 1 modules takes place in August/September of the same year.
Additional Costs (specified where applicable):
1) Required text books:
2) Specialist equipment or materials:
3) Specialist clothing, footwear or headgear:
4) Printing and binding: There may be optional costs associated with photocopying or printing sources listed on the reading list relating to this module. Please note that the Library charges approximately 5p per photocopy.
5) Computers and devices with a particular specification:
6) Travel, accommodation and subsistence:
Last updated: 8 April 2019
THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.