This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.

Undergraduate Handbook 2021-2022 (archived)

Module ACCT1127: Economics for Accounting

Department: Accounting

ACCT1127: Economics for Accounting

Type	Level	Credits	Availability	Module Cap	Location
Tied	1	10	Available in 2021/2022	None.	Durham

Tied To

Pre-requisites

None

Corequisites

None

Excluded Combinations

None

Aims

To introduce the basic principles of microeconomics and macroeconomics.

Content

Fundamental issues in economics.
Basic principles of microeconomics: consumers in the marketplace; firms in the marketplace; markets in action; market structure and firm performance; strategic rivalry; growth strategies; governing business.
Basic principles of macroeconomics: introduction to macroeconomy; measuring macroeconomic variables and policy issues; exchange rates and the balance of payments; globalisation; expenditure and fiscal policy; money, banking and interest; inflation, unemployment, output and economic policy, supply side policies and economic growth.

Learning Outcomes

Subject-specific Knowledge

On completion of this module students should be able to:
Understand the basic principles of economics.
Able to apply economic frameworks to the analysis of decision making by producers and/or consumers.
Able to construct and explain fundamental macro-economic models and interrelationships and how they are affected by change.

Subject-specific Skills

On completion of this module students should be able to:
Explain key theories in microeconomics.
Explain key theories in macroeconomics.
Use appropriate techniques for economic analysis.
Use critical thinking skills to apply knowledge from an international perspective.
Apply principles learnt to real life situations.

Key Skills

Planning, organisation and time management
Written communication
Problem solving
Computer literacy and information retrieval

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

Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminar classes, and independent study.
Formative assessment is by completion of a practice test.
Summative assessment is by means of a written examination.

Teaching Methods and Learning Hours

Activity	Number	Frequency	Duration	Total Hours	Attendance Monitored
Lectures	18	2 per week	1 hour	18	Yes
Seminars	4	Fortnightly	1 hour	4	Yes
Revision Lecture	1	Once	2 hours	2
Preparation, Reading and Independent Study				76
Total				100

Summative Assessment

Component	Component Weighting	Element	Length/Duration	Element Weighting	Resit Opportunity
Examination	100%	Written examination	2 hours	100%	Same

Formative Assessment

Practice test

Students who do not attend monitored activities shown under Teaching Methods and Learning Hours, or who fail to complete the summative or formative assessment(s) specified above, may be subject to the Academic Progress procedures defined in the University's General Regulation V, and may be required to leave the University.