University of Edinburgh - ECNM08004: Economic Principles

The course is intended to provide a broad introduction to the principles of microeconomic and macroeconomic analysis.

Course content varies from year to year, but would typically address the microeconomic analysis of the behaviour of individuals and firms, the operation of markets, and government intervention in markets through taxes and regulation; and the macroeconomic analysis of the behaviour of economy-wide measures such as output, unemployment, money, interest rates, and inflation.

The course is taught through a programme of lectures and tutorials. The course relies primarily on words, diagrams and numerical illustrations. The use of formal mathematics is limited and basic. The recommended textbook is: The recommended textbook is: Mankiw and Taylor 'Economics', latest edition.

✔ On completion of this course, the student will be able to:

• A knowledge and understanding of microeconomics and macroeconomic principles, and of economic issues through application of these principles.
• Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
• Communication skills in order to critique, create and communicate understanding and to collaborate with and relate to others.
• Personal effectiveness through task-management, time-management, teamwork and group interaction, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
• Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.

Applications of Econometrics