Economics for Accounting - ECON3007

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Module delivery information

Location Term Level1 Credits (ECTS)2 Current Convenor3 2022 to 2023
Canterbury
Autumn Term 4 15 (7.5) Penelope Pacheco-Lopez checkmark-circle

Overview

This module introduces students to economics in its two main components, microeconomics and macroeconomics. The module is designed to explain the main ways in which economists think about economic problems faced by individuals, firms, markets and governments.

The first part of the module focuses on explaining a selection of microeconomic topics including, the behaviour of individuals and firms; demand and supply of goods and services and determination of prices; costs in the short and long term and market structures. The second part aims to introduce the core of macroeconomic topics; for instance, macroeconomic objectives and trade-offs; unemployment; inflation; international trade; balance of payments and exchange rates; and the main types of economic policies that are implemented by governments. Overall, the application of economics to contemporary issues illustrates how economic analysis can be used to understand the different parts of the economy and to inform and evaluate policy interventions that support a range of different economic outcomes.

The module is self-contained to provide a basic understanding of economic concepts and debates. It is a suitable module for students interested in taking economics further, either as part of another degree programme or as part of a future professional qualification.

Details

Contact hours

Total contact hours: 32 hours
Private study hours: 118 hours
Total study hours: 150 hours

Availability

Available as an elective module

Method of assessment

Main assessment methods:
VLE test 1 (15%)
VLE test 2 (15%)
Exam, 2 hours (70%)

Reassessment methods:
Reassessment Instrument: 100% exam

Indicative reading

• Andrew Gillespie, Foundations of Economics, (5th Eds., Oxford University Press).
• Chris Mulhearn and Howard Vane, Economics for Business, (3rd edition, Palgrave Macmillan, 2016).
• Eileen Tipoe and Ralf Becker, Doing Economics, (Coreecon, Creative Commons).
• John Sloman et.al., Economics for Business, (8th edition, Pearson, 2019).

See the library reading list for this module (Canterbury)

Learning outcomes

The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- Demonstrate introductory knowledge and understanding of the basic principles of economics
- Identify key concepts and relation of variables used within the study of economics
- Apply relevant knowledge and understanding of economics to contemporary issues and debates
- Show simple graphical representation of economic concepts
- Utilise economic concepts to understand various economic scenarios

The intended generic learning outcomes.
On successfully completing the module students will be able to:
- Retrieve information from a variety of sources
- Draw on economics concepts and theories in decision-making situations
- Address an economic problem using deductive and inductive reasoning
- Present economic ideas and arguments to a variety of audiences and/or using a variety of methods
- Plan work and study independently

Notes

  1. Credit level 4. Certificate level module usually taken in the first stage of an undergraduate degree.
  2. ECTS credits are recognised throughout the EU and allow you to transfer credit easily from one university to another.
  3. The named convenor is the convenor for the current academic session.
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