Student Module Guide | Winter Term2013 | FC006 International Economics |

Table of Contents 1. Aims of the Module | P.2 | 2. Learning Outcomes | P.2-3 | 3. Contact and Study Hours | p.3 | 4. Learning and Teaching Methods | p.3 | 5. Key Texts | p.3 | 6. Assessment Overview | p.4-5 | 7. Academic Misconduct | p.4 | 8. Late Submission | p.4 | 9. Attendance and Punctuality | p.5 | 10. In Case of Illness | p.5 | 11. Weekly Schedule | p.5-6 |

Welcome to FC006, International economics. This is a core module that provides an introduction to the topics involved in the study of Business, Law and Social Sciences. This module does not assume any prior knowledge of Economics but will provide a basis for future modules in Business, Law and Social Sciences.

The tutor for this module is………………………

S/he can be contacted in Room: or by Email on:

1. Aims of the Module

This module aims to:
Provide a broad introduction to the theory and practice of how markets operate and the factors influencing international trade and investment. This module is studied in the first term of a three term Foundation Certificate Programme.

2. Learning Outcomes

Subject-specific learning outcomes

Upon successful completion of this module, students will be able to demonstrate understanding of the following subject-specific learning outcomes:

1. The basic economic problem, opportunity cost and different economic systems
2. Demand and Supply, allocation of resources through the price mechanism in a free market and the concept of elasticity.
3. The Theory of the Firm
4. Various market structures like Perfect Competition, Oligopoly and Monopoly
5. Trade, comparative advantage and protectionism
6. Exchange Rates
7. International Financial Markets – bonds, exchange and shares markets
8. Trading Blocks like the European Union and North American Free Trade Area

Personal key skills

Upon successful completion of this module, students will be able to demonstrate achievement of the following generic learning outcomes:

1. An ability to study independently and become a more effective self-directed learner
2. An ability to use and interpret information and data
3. An ability to compare and critically evaluate arguments and evidence
4. An ability to work as part of a team
5. An ability to apply ideas to new situations

3. Contact and Study Hours

Each term is 12 weeks. The range and modes of contact and study hours are indicated below.

Element | Weekly Hours | Total | Lectures | 4 | 48 | Seminars | 2 | 24 | Directed personal study | 6.5 | 78 | Total | 12.5 | 150 |

4. Learning and Teaching Methods

Lectures focus on key themes and are teacher-led, but include opportunities for questions and discussion. Seminars include small group tasks and student presentations, and are student-led. These exercises are based around the key text and additional resources provided by the module tutor (see 4 below).

Lecture slides and seminar materials are available in advance on the VLE. Students are expected to print these for themselves as soon as they have access to the VLE.

5. Key Texts

You must have your own copies of Key Texts and bring them to all class sessions. A detailed ‘student managed learning’ programme will be built around the Key Texts, supplemented by ‘customised’ materials specially prepared for your use in lectures and seminars. The key text for this module is:

Gillespie, A. (2010) Business Economics. Oxford University Press. ISBN 978-0-19-956518-4

Additional/optional readings can be found on the VLE. You are strongly encouraged to do at least one extra reading per week as this will help you gain a better understanding of the key issues covered in the lectures.

6. Assessment Overview

Students demonstrate the achievement of the learning outcomes through the following