Durham University
Programme and Module Handbook

Undergraduate Programme and Module Handbook 2018-2019 (archived)


Department: Business School (Economics and Finance)


Type Tied Level 1 Credits 20 Availability Available in 2018/19 Module Cap None. Location Durham
Tied to NN43
Tied to N302
Tied to N304
Tied to N305
Tied to N306
Tied to N307
Tied to NN42
Tied to N204
Tied to N206


  • None


  • None

Excluded Combination of Modules

  • None.


  • To introduce the basic principles of economics.
  • To provide a sound foundation for second year core modules in Micro- and Macroeconomics.


  • Economic principles, methodology and model building.
  • Demand, supply and price determination.
  • Welfare analysis.
  • Consumer theory: households' choices (indifference curves, utility maximisation).
  • Producer theory: production decisions (profit maximisation, cost minimisation).
  • Market structures (e.g. monopoly, oligopoly).
  • Introduction to behavioural and experimental economics.
  • The macroeconomic environment.
  • Aggregate demand and supply analysis.
  • Determinants of investment.
  • The role of money and interest rates.
  • Basics of the IS-LM model.
  • Fiscal and monetary policies.
  • Economic growth (e.g. the Solow model).

Learning Outcomes

Subject-specific Knowledge:
  • understand the basic principles by which prices are determined and under which markets operate, the key macro-economic variables, and the basic theories relating to their determination.
Subject-specific Skills:
  • have practised problem solving and analytical skills
Key Skills:
  • Planning, organisation and time management - by preparing work for classes, and by preparing for and undertaking the summative assessment.
  • Written communication - by formative and summative assessment.
  • Problem solving - by applying core mathematical skills (geometrical and analytical) to answer a range of problems.
  • Computer Literacy and information retrieval - by accessing, and downloading teaching material from DUO; using e-mail to communicate with lecturers and others on the module; undertaking bibliographical search and information retrieval; and accessing the web-site that accompanies the module core text.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lectures and tutorials. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by two problem sets (one per term). Summative assessment is by means of a written examination.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 20 Weekly 2 hours 40
Tutorials 8 every second week 1 hour 8
Preparation and Reading 152
Total 200

Summative Assessment

Component: Examination Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
One written examination 2 hours 30 mins 100% same

Formative Assessment:

Two problem sets (one per term)

Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University