EC1803: Markets and Governments: An Introduction to Microeconomics

Credit Weighting: 5
No. of Students: Min 20, Max 40.
Pre-requisite(s): None
Co-requisite(s): None
Teaching Period(s): Semesters 1 or 2 or 3. (semester details for this module will be confirmed at the start of the programme).
Teaching Methods: 7 x 3hr(s) Lectures; 1 x 3hr(s) Tutorials; 76hr(s) Other (self-directed learning)
Module Co-ordinator: Dr Séamus O Tuama, Centre for Adult Continuing Education.
Lecturer(s): Staff, Department of Economics, as appropriate; Staff, Centre for Adult Continuing Education.
Module Objective: The basic principles of microeconomic analysis are introduced, with particular reference to their use in understanding social issues such as poverty and inequality.
Module Content: The role of markets and government in achieving social goals and public policy objectives is examined. The module introduces key economic concepts, through a framework of analysis, on a range of contemporary social problems. This involves an understanding of the economics of the market, the efficiency rationale for government intervention and the various approaches undertaken by government to ensure an efficient allocation of resources.
Learning Outcome: On successful completion of this module, students should be able to:
  • Understand how markets work and discuss the efficiency argument to allow a perfectly competitive market to operate.
  • Describe the economics of market failure and problems with the inequalities of the market process.
  • Analyse government objectives and the various approaches adopted to ensure an efficient allocation of resources.
  • Describe and measure the extent of income inequality in Ireland and other countries.
  • Distinguish the main types of poverty, how they are measured and identify who is affected by poverty in Ireland.
Assessment: Total Marks 100: Continuous Assessment 100 marks (In-class test, 50 marks; 1 x 1,500 word written assignment, 50 marks).
Compulsory Elements: Continuous Assessment.
Penalties (for late submission of course/project work etc.): Where work is submitted up to and including 7 days late, 5% of the total marks available shall be deducted from the mark achieved. Where work is submitted up to and including 14 days late, 10% of the total marks available shall be deducted from the mark achieved. Work submitted 15 days late or more shall be assigned a mark of zero.
Pass Standard and any Special Requirements for Passing Module: 40%.
End of Year Written Examination Profile: No Formal Written Examination.
Requirements for Supplemental Examination: Marks in passed element(s) of Continuous Assessment are carried forward, Failed element(s) of Continuous Assessment must be repeated (as prescribed by the module coordinator).

University College Cork

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