Module ACCT1127: Economics for Accounting

Department: Accounting

ACCT1127: Economics for Accounting

Prerequisites

• None

Corequisites

• None

Excluded Combination of Modules

• 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

• 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.

• 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.

• 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

Summative Assessment

Formative Assessment:

Practice test

■ 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