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Semester 1

Economics 1 (VS1) (ECNM08014)

Subject

Economics

College

CAHSS

Credits

20

Normal Year Taken

1

Delivery Session Year

2022/2023

Pre-requisites

Course Summary

This calculus-based 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. It focuses on developing and using models of supply and demand in microeconomic (individual market) contexts. Students who have not previously studied economics may find it useful to take Economic Principles alongside Economics 1 (VS1).

Course Description

This calculus-based 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. It focuses on developing and using models of supply and demand in microeconomic (individual market) contexts. Relevant mathematical techniques (e.g: Linear Equations & Their Graphs; Solving systems of equations; Derivatives and Differentiation; Optimisation; Functions of Two or More Variables; Basic Probability; Elasticity; Exponential and Logarithmic Functions; Compound & Continuous Growth; Calculus of Growth.) are developed and applied to economic contexts as an integral part of the course. The course is taught through a programme of lectures and tutorials. Learning-by-doing, through problem solving, is an important ingredient of the course, as part of an active approach to learning.

Assessment Information

Written Exam 90%, Coursework 10%, Practical Exam 0%

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