Use our course finder to browse courses available for visiting students at the University of Edinburgh.
SCQF Level 8 (Year 1 Undergraduate)
The course is intended to develop a rigorous understanding of core economic models and analysis, together with an ability to apply the analysis in a variety of contexts. The first semester focuses on developing and using models of supply and demand in both microeconomic (individual market) and macroeconomic (economy-wide, aggregate) contexts. The second semester looks in greater depth at the underlying microfoundations of producer and consumer behaviour in competitive and monopoly settings, and then utilizes the analytical tools developed to explore the consequences of competitive markets for economic well-being and the problems posed by 'market failures'.Relevant mathematical and statistical techniques (e.g. solving linear equation systems, logs, basic calculus, maximization, simple regression) are developed and applied to economic contexts as an integral part of the course. The recommended textbooks are: Pindyck and Rubinfeld 'Microeconomics' (Pearson) and Mankiw 'Macroeconomics' (Palgrave). Learning-by-doing, through problem solving and project work, are an important ingredient of the course, with regular on-line tests to reinforce an active approach to learning. The course is primarily aimed at students who intend (or want to keep open the option) to progress to further study of economics in their 2nd year. Other students are welcome, but may find Economic Principles and Applications a more suitable alternative. Students who have not previously studied economics may find it useful to take Economic Principles and Applications alongside Economics 1A.
College of Humanities and Social Science
School of Economics
This article was published on Feb 24, 2012