EC131-Thinking Like an Economist

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Level:4
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Prof Giovanni Razzu
Email: g.razzu@reading.ac.uk

Type of module:

Summary module description:

What does it mean to think like an economist? Despite the way economics is typically portrayed and considered, it is characterised by a wide range of models and approaches and a peculiar ability to draw from other disciplines.  This module will introduce students to the richness and diversity of approaches in economics and how these can be applied ­­to analyse a wide range of issues.

Aims:

This module will provide students with an understanding of the range of theoretical approaches within economics and the ways in which economic thinking can be applied to analyse a variety of real-world issues.

At the end of the module students should be able to:

1. understand and describe the diversity of economics and how this diversity of approaches could be employed to explain and analyse different social problems;


2. describe the core economic concepts and apply these concepts to the analysis of a range of contemporary problems;


3. assess the usefulness of different approaches for analysing different problems;


4. contribute to contemporary debates in a structured and consistent way by identifying the key elements of a problem to be modelled and distinguishing these from others that might not be relevant.

Assessable learning outcomes:

At the end of the module students should be able to:

1. explain the core concepts and principles of economics;


2. explain the different approaches within economics;


3. apply these concepts and approaches to analyse various contemporary issues.

Additional outcomes:

Students will have the opportunity to develop their ability to contribute to contemporary debates in a structured and consistent way, and to develop their written communication skills.

Outline content:

The module is roughly split into two parts: in the first part, students will be acquainted with the tools and methods to understand and assess the work and research by other economists. In the second part, students will aim to develop their own thinking on a specific topic. Across the module, there will be contributions (often in forms of video lectures) by economists from the Department who will use examples from their own research to outline how they have thought through a particular issuefrom an economic perspective, as well as how they have used and integrated insights from other sciences and perspectives.

Global context:

There is an important and increasing global debate in the economics discipline about its lack of diversity in the discipline. This is in respect to both the diversity in who is employed in the profession as well as what the economics discipline is about. Economics is seen as having a very narrow focus and, also, as adopting a very narrow set of assumptions about human behaviour, such as the one according to which individuals are selfish. The module aims to dispel these perspectives on economics and show students that economics is characterised by a wide range of approaches, can incorporate a wide range of assumption on individuals’ behaviours and on how individuals and firms make choices and, therefore, can inform policies on almost any area of public interest.

Brief description of teaching and learning methods:

Lectures will be used to introduce the concepts, analytical principles and methodological approaches. Students are expected to prepare for lectures by doing the recommended reading. Coursework will help develop analytical and critical skills.

Contact hours:

	Autumn	Spring	Summer
Lectures	10
Guided independent study:
Wider reading (directed)	40
Essay preparation	40
Reflection	10
Total hours by term		0	0
Total hours for module	100

Summative Assessment Methods:

Method	Percentage
Written assignment including essay	50
Report	50

Summative assessment- Examinations:

There is no end of year examination for this module.

Summative assessment- Coursework and in-class tests:

1. Coursework will involve: One written assignment (worth 50% of the module mark): 1200 words


2. One report (worth 50% of the module mark):  1500 words

Formative assessment methods:

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 of Part 1 modules takes place in August of the same year.

Re-assessment will be on the basis of further coursework related to the topics covered in the module. This will not be a re-submission of earlier assignments.

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:  None

5) Computers and devices with a particular specification:  None

6) Travel, accommodation and subsistence:  None

Last updated: 30 March 2023