EC113NU-Introductory Microeconomics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:4
Semesters in which taught: Semester 1 module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Dr Carolyn Molesworth-St Aubyn
Email: c.molesworth-staubyn@reading.ac.uk

NUIST Module Lead: Jia Yu
Email: Jiayu02@126.com

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 be required to complete coursework such as problem sets. In the process of completing these types of assignments, 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:

	Semester 1	Semester 2
Lectures	68
Tutorials	16
Guided independent study:	116
Total hours by term	200	0
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	50
Written assignment including essay	30
Class test administered by School	20

Summative assessment- Examinations:

One 2-hour unseen written paper (50% of final module mark).

Summative assessment- Coursework and in-class tests:

Class tests worth 20% of the final module mark.

One written assignment worth 30% of the final module mark.

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-assessment is by final exam only. Coursework will not be included in the reassessment.

Additional Costs (specified where applicable):

1) Required text books:  None

2) Specialist equipment or materials:  None

3) Specialist clothing, footwear or headgear:  None

4) Printing and binding:  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:  None

6) Travel, accommodation and subsistence:  None

Last updated: 22 August 2023