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EC103-Economics for Construction & Engineering

Module Provider: Economics
Number of credits: 10 [5ECTS credits]
Terms in which taught: Spring and Summer
Module Convenor: Dr NS Wadeson
Pre-requisites: Available only to students in the Faculty of Science
Co-requisites:
Modules excluded: EC104
Module version for: 2008/9

Email: N.S.Wadeson@reading.ac.uk

Aims:

Assessable learning outcomes:
The module emphasises the understanding of economic principles and key tools of analysis in micro and macroeconomics. Upon completion of the module, students should be able to:

  • Analyse the process of resource allocation in a market system;
  • Explain the output and pricing decisions of the firm under different competitive conditions;
  • Understand the principal economic theories of consumer choice and behaviour;
  • Understand the process of national income determination;
  • Understand contemporary economic discussions of unemployment, inflation and exchange rates and their principal implications for macroeconomic policy.

    Additional outcomes:
    The module will assist students in developing an overall awareness of the workings of the economy, the operation of macro-economic policy and their significance on business decisions and outcomes. The module will enhance students' quantitative and analytic skills.

    Outline content:

  • Introduction to markets and pricing. How the market system works. Consumer behaviour. Government intervention.
  • Production and the firm.
  • National income determination. National economic policy. Unemployment and inflation. The international economy.

    Brief description of teaching and learning methods:
    Lectures, Web-based learning and Private Study.

    Contact hours:

      Autumn Spring Summer
    Lectures 10 x 2 hrs 1 x 2 hrs
    Tutorials/seminars      
    Practicals      
    Other contact (eg study visits)      
    Total hours   20  2 
    Number of essays or assignments      
    Other (eg major seminar paper)      

    Assessment:
    Coursework :
    none
    Relative percentage of coursework : n/a
    Penalties for late submission :
    n/a
    Examinations :
    One two-hour examination in May/June
    Requirements for a pass :
    40%
    Reassessment arrangements :
    Re-examination in August/September only.

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