BDIC1045J Introduction to Economics

Academic Year 2021/2022

This module covers the fundamental concepts and principles which are very important for the understanding of economics. In addition, some typical economic analysis problems will be discussed. The main contents of this module include the supply and demand, consumer choice, company profit maximization, four types of markets, labor and wage, economic efficiency, the banking system and money policy, the basics of macroeconomics and international trading. By learning this module, the students will roughly know what economics is about and will have the ability to learn more advanced economic modules.

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Curricular information is subject to change

Learning Outcomes:

• To understand the basic concepts and principles of economics
• To be able to make basic economic analysis to solve real problems, and know the rationale behind real world economic phenomenon
• To be able to learn more advanced economic modules, and read academic papers related to economics

Indicative Module Content:

Week Topic
2 Basic concepts, economic systems.
3 Supply and demand, consumer choice.
4 Production and cost, short run and long run
5 Different types of costs, profit maximization
6 Perfect competitive market, monopoly.
7 oligopoly, monopolistic competition.
8 Labor market, wage, discrimination.
9 Economic efficiency, welfare loss, regulations.
10 Banking system and money policy.
11 GDP, GNP, GPI, unemployment
12 Business cycle, international trade
13 Revision

Student Effort Hours: 
Student Effort Type Hours
Lectures

48
Autonomous Student Learning

72
Total

120
Approaches to Teaching and Learning:
active/task-based learning; peer and group work; lectures; critical writing; case-based learning; student presentations, etc. 
Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Examination: Final exam.
 2 hour End of Trimester Exam No Alternative linear conversion grade scale 60% (Chinese modules) No

60
Continuous Assessment: Exercises Throughout the Trimester n/a Alternative linear conversion grade scale 60% (Chinese modules) No

20
Attendance: Attendance and attitude. Throughout the Trimester n/a Alternative linear conversion grade scale 60% (Chinese modules) No

20

Carry forward of passed components
No
 
Remediation Type Remediation Timing
In-Module Resit Prior to relevant Programme Exam Board
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, on an activity or draft prior to summative assessment
• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
• Self-assessment activities

How will my Feedback be Delivered?

Not yet recorded.

Gregory Mankiw. Principles of Economics. South-Western; 6 edition. 2011