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Unit information: Economics 2 in 2021/22

Unit name Economics 2
Unit code EFIM10027
Credit points 20
Level of study C/4
Teaching block(s) Teaching Block 2 (weeks 13 - 24)
Unit director Dr. Katerina Raoukka
Open unit status Not open

Economics 1



School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description including Unit Aims

This is the second of two introductory economics units. This unit complements students’ learning in ‘Economics 1’ and provides further analytical training in core concepts and tools of modern microeconomics and macroeconomics.

The key aim is to introduce students to a wide range of models which are useful in the economic analysis of macroeconomic events, aspects of the global economy and the behaviour of consumers, firms and policy-makers.

The main aspects to be studied will be:

(i) the determination of key macroeconomic variables such as GDP, unemployment, inflation and productivity

(ii) aspects of monetary and fiscal policy

(iii) dimension of the global economy

(iv) strategic interaction and market structure

Intended Learning Outcomes

Students will be able:

[1] to understand and make appropriate use of graphical and mathematical models as well as historically and methodologically informed narrative to explain economic behaviour as well as current and past events in economics, acknowledging the interrelatedness of economic variables.

[2] to be able to explain and use important micro and macroeconomic concepts

[3] to describe main empirical regularities and make economic judgements by interpreting economic data.

[4] to explain the contributions that economic analysis can make to addressing some problems of current concern such as financial and economic crises, productivity growth, unemployment, strategic behaviour and market power,

[5] to appropriately communicate economics to expert and non-expert audiences.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Information

MCQ tests (20%) (Assesses learning outcomes [1]-[4]

2 x online assignments (30%) (Assesses learning outcomes [1]-[5])

Policy report (50%) (Assesses learning outcomes [1]-[5])

Formative Economics project (Assesses all learning outcomes) - A pass mark in the project is required for credit points to be awarded for this unit


If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.

If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIM10027).

How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours of study to complete. Your total learning time is made up of contact time, directed learning tasks, independent learning and assessment activity.

See the Faculty workload statement relating to this unit for more information.

The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit. The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates within the Regulations and Code of Practice for Taught Programmes.