ACADEMIC YEAR
2015/2016
PROVISIONAL MODULE OUTLINE
Certificate of Higher Education
ECONOMICS
Economic Principles (Fast-Track)
FFEC902S4CCB
CLASS DETAILS
First Meeting
Tuesday 5 Jan 2015, 6.00-9.00pm (11 Meetings plus 2 Sat schools)
Term Dates
5 January 2015 to 15 March 2015
Saturday Schools
6 Feb, 10am-5pm and 5 March 2015, 10am-5pm
Module taught by
Anthony Conibear
Whilst we endeavour to teach on the Saturdays listed in the module outline, dates are liable to
alteration after the module has begun.
Please be aware that students should not be attending any classes until they have formally
enrolled.
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Contents
CLASS DETAILS .................................................................................................................................. 1
MODULE DESCRIPTION ..................................................................................................................... 3
COURSEWORK AND ASSESSMENT................................................................................................... 4
REFERENCES ..................................................................................................................................... 5
READING LISTS .................................................................................................................................. 6
ESSAYS ............................................................................................................................................... 9
Please read the Certificate of Higher Education Economics Student Handbook carefully for
information and College policies regarding your studies.
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MODULE DESCRIPTION
An Explanation of basic economic principles is provided, in order to establish a foundation for the
understanding of national and International economic issues and policies. You will develop analytical skills
and discuss problems of principle and policy.
Aims
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The main aim of the module is to introduce basic economic principles as a foundation for the
understanding and discussion of national and international economic policies and issues. Class
members are encouraged to discuss economic issues.
Student Outcomes
By the end of the module you should:

have gained a knowledge and understanding of the key terminology and themes in public policy
debate.

have gained an appreciation of the importance of critical thought and be able to apply basic
principles in the explaining of real world economic behaviour.
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be able to think critically and independently about what you have read

have completed and been assessed on your coursework
Subject understanding and the ability to use a variety of analytical tools will be assessed in the course
work.
Teaching Arrangements
Teaching and learning takes place by means of lectures, seminars and class presentations by students
individually or in groups.
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COURSEWORK AND ASSESSMENT
Students will be expected to prepare essays for formal assessment and to undertake a compulsory in-class
assessment.
Assessment will consist of three elements:
1. Coursework amounting to 3,000 words in total to be made up of two assignments of 1,500 words
each, to be submitted by weeks 5 and 10. These assignments will account for 60% of the total marks.
The deadline for submission of coursework to the class tutor is the final class (week 11). Assignments
submitted after the final class will not be assessed unless a mitigating circumstances form and
supporting evidence has been submitted (further information see page 6).
2. A compulsory in-class assessment will take the form of unseen questions to be answered within 2 hours
which will carry 40 % of the possible marks. This will take place in week 11. There will be a central re-sit
date allocated for those who provide evidence that they cannot attend the unseen assessment in week
11.
3. In-class participation is marked as pass/fail. Criteria include regular contributions to class (e.g. groupwork, discussions, mini-presentations or other exercises), awareness of required reading,
listening/communication skills.
All assessment must be passed to be eligible for credit. Please keep a copy of all work you submit.
You may produce up to two trial assignments if you wish which can be used for feedback. The course
lecturer will give suggestions for improvement. These will NOT go forward for final assessment.
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REFERENCES
Please ensure that:
 you use appropriate footnoting or end noting,
 all references consulted, and all quotations reproduced, are properly cited, including where
necessary specific page references,
 you include a full Bibliography representing the actual texts consulted
 you use texts that are written in English only
It is essential that you reference sources correctly. If you fail to reference sources correctly, you run the
risk of plagiarising. If a student’s work is proven to be plagiarised, this can result in the student
automatically failing the course.
The referencing formats below are widely adhered to in Economics:
BOOK-1 AUTHOR
SURNAME, INITIAL(S). YEAR. TITLE, CITY: PUBLISHER.
EXAMPLE: Denoeux, G. 1993. Urban Unrest in the Middle East: A Comparative Study of Informal Networks in Egypt, Iran
and Lebanon. New York: State University of New York Press.
BOOK-2 OR 3 AUTHORS
SURNAMES, INITIALS. YEAR. TITLE, CITY: PUBLISHER.
EXAMPLE: Buzan, B., O. Wever, and J. de Wilde. 1998. Security: A New Framework for Analysis. Boulder, CO: Lynne
Rienner.
BOOK-4 OR MORE AUTHORS
SURNAME(S), INITIAL(S) ET AL., EDS. (IF RELEVANT) YEAR. TITLE, CITY: PUBLISHER.
EXAMPLE: Held, D. et al., eds. 2005. Debating Globalization. Cambridge: Polity Press.
BOOK-SECOND OR LATER EDITION
SURNAME(S), INITIAL(S). YEAR. TITLE, NUMBER EDITION, CITY: PUBLISHER.
EXAMPLE: Calvocoressi, P. 2008. World Politics since 1945. 9th edition. London: Longman.
CHAPTER IN (EDITED) BOOK
SURNAME(S) CHAPTER AUTHOR, INITIAL(S). YEAR. “TITLE OF CHAPTER,” IN SURNAME(S), INITIAL(S), ED(S). TITLE
OF BOOK. CITY: PUBLISHER, PP:.
EXAMPLE: Murphy, C. 2002. ‘‘Why Pay Attention to Global Governance?,’’ in Wilkinson, R., and S. Hughes, eds.
Global Governance: Critical Perspectives. London: Routledge, pp. xi-xvii.
JOURNAL ARTICLE
SURNAME(S), INITIAL(S). YEAR. TITLE OF ARTICLE. NAME OF THE JOURNAL VOLUME(ISSUE NUMBER): PAGE
NUMBERS.
EXAMPLE: Martin, L., and B. Simmons. 1998. Theoretical and Empirical Studies of International Institutions.
International Organization 52(4): 729–757.
NEWSPAPER ARTICLE
SURNAME(S), INITIAL(S). YEAR. TITLE OF ARTICLE. TITLE OF NEWSPAPER, DAY MONTH BEFORE PAGE NUMBER
AND COLUMN LINE.
EXAMPLE: Glapper, R. 2005. Transnational corporate recruitment and the welfare state: Pressing issues for
governments and lawyers. The New Times, 4 Sep. p.4b.
WEB PAGE
SURNAME(S), INITIAL(S). YEAR. TITLE. PLACE OF PUBLICATION, PUBLISHER (IF ASCERTAINABLE). AVAILABLE
FROM: INTERNET ADDRESS [ACCESSED DY/MNTH/YR].
EXAMPLE: Zuttel, F., and M. Hobland. 2002. References: Harvard systems. Powle, Burnemouth University. Available
from: http://www.burnemouth.edu/service.html [Accessed 18 November 2002].
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READING LISTS
Purchase of some or all advisable (but not before the first class as we occasionally have to cancel
classes)
MAIN READING
Students need to read one basic economics text. The main texts recommended for this module are:
Sloman. J. and Garratt, D.(2009) Essentials of Economics, (5th edition). London.Financial Times Press.
Lipsey and Chrystal,(2011) Economics (12th edition) Oxford,OUP
The text by Sloman is less rigorous than the Lipsey and Chrystal text and therefore an easier read.
OTHER GENERAL READINGS
Begg, (2008) Economics, 9th edition.
Good bookshops include: The LSE Bookshop; Waterstones; Foyles;
Secondhand Stores: Skoob Books, Judd Books
Websites: abebooks.co.uk amazon.co.uk
OTHER SOURCES
Internet Sources
www.ft.com
www.economist.com
www.bankofengland.co.uk
www.hm-treasury.gov.uk.
www.ons.gov.uk
www.booksites.net
Journals and Newspapers
n/a
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WEEK-BY-WEEK BREAKDOWN
The readings given below for each topic are in no sense comprehensive or required reading. An indication
is given of the relevant chapters in the set texts, together with an identification of some of the better works
dealing with the topics specified.
WEEK-BY-WEEK BREAKDOWN
Weeks 1 and 2:
An Introduction and an analysis of the market, buyers and sellers and price
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Scarcity, choice and cost
Economic systems
Demand and supply curves
Market equilibrium, price floors and ceilings
Elasticity of demand and supply
Selected applications of price analysis.
Reading:
Lipsey – chapters 1, 2, 3, 4, 5 and 5.
Sloman – Intro and chapters 1 and 2.
Week 3 and the first Saturday school:
The economics of the firm
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Economic Costs, and their characteristics over the short and long run
Profit maximisation and how it is achieved
Competitive and monopolistic behaviour
Market rivalries and oligopolies.
Reading:
Lipsey – chapters 8, 9, 10, and 11
Sloman – chapters 3 and 4
Week 4:
The labour market and income distribution
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Demand and Supply of labour
Employment and wages
Minimum wages under competition and monosony
Income distribution and inequality.
Reading:
Lipsey – chapters 14 and 15
Sloman – chapter 5
Week 5:
Allocative efficiency and market failure
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Externalities, public and merit goods, asymmetric information
Policy responses to market failure.
Reading:
Lipsey – chapter 18
Sloman – chapter 6
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Weeks 6 and 7:
Macro economics – basic models and measurement
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Government Macro policy objectives and policy instruments
GDP, GNP as measures of welfare
The national income and expenditure model
The income multiplier
Consumer and investment spending
The business cycle – recession and recovery
Reading:
Lipsey – chapters 20, 21, 22 and 23
Sloman – chapters 7 and 8.
Weeks 8 and 9:
Fiscal and monetary analysis and policy, Inflation and unemployment
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The role of government spending and taxation
National debt and the impact of government borrowing
Credit creation and money supply control
Interest rate determination
Money supply and interest rate changes in a global environment
Consequences of inflation and unemployment
Their causes and the policy responses
The 'Phillips Curve' and NAIRU
Role of supply-side policies.
Reading:
Lipsey – chapters 25, 26, 27
Sloman – chapters 8 and 9.
Lipsey – chapters 24, 30 and 31
Sloman – chapter 10.
Week 10 and the second Saturday school:
International trade and Development and Revision
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Why trade? Comparative advantage and free trade
Trade restrictions – tariff and non-tariff barriers
The balance of payments and the problem of deficits
Exchange rate systems
The Euro
Development Strategies – Aid and Debt
Reading:
Lipsey – chapters 28, 29, 34 and 35.
Sloman – 11 and 12
Week 11:
2 hours unseen in-class assessment
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ESSAYS
Essay 1 (Deadline Week 5)
Essay 2 (Deadline Week 10)
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