EC113-Introductory Microeconomics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:4
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites: GCSE Maths Grade 5 or above
Co-requisites:
Modules excluded: EC103 Economics for Construction and Engineering and IC103 Introductory Economics for Business and Finance and AP1EE3 Economics 1
Current from: 2022/3

Module Convenor: Mr Adesola Olumayowa Sunmoni
Email: a.sunmoni@reading.ac.uk

Type of module:

Summary module description:
To introduce students to the basic principles of microeconomics.

Aims:
To introduce students to the economic analysis of decision-making, how markets work, and how consumers and firms make their decisions. To enable students to progress to the study of intermediate level microeconomics.

Assessable learning outcomes:
At the end of the module students should be able to explain and demonstrate a critical understanding of the above principles. They should be able to apply these principles to various practical and policy issues.

Additional outcomes:

Students will learn skills required to understand relevant research and apply theoretical knowledge to real world situations.

Outline content:
Making rational decisions; demand and supply; the market mechanism; elasticity; theory of consumer behaviour; firm behaviour: production and costs; perfect competition; profit maximisation and cognitive limitations.

Brief description of teaching and learning methods:
The lectures will cover all the basic course material. Classes will cover material based on lecture topics and will provide time for students to ask questions about the lecture material.

Contact hours:

	Autumn	Spring	Summer
Lectures	30		1
Tutorials	9
Guided independent study:	160
Total hours by term	199	0	1
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	60
Class test administered by School	40

Summative assessment- Examinations:

One 3 hour unseen written paper.



Part 1 examinations are held in the Summer term. 

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

Four short on-line tests, each worth 10% of the final module mark. The tests will be spread across the term and are intended to encourage engagement with the course material. Each test will focus on different parts of the course material to the others.

Formative assessment methods:
Coursework will be set for most of the weekly classes, at which attendance is compulsory.

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/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. Re-assessment will be on the basis of one further written assignment. This will not be a re-submission of an earlier assignment.

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: 20 December 2022