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

Undergraduate Handbook 2025-2026 (archived)

Module ECON1021: Economic Methods

Department: Economics

ECON1021: Economic Methods

Type	Level	Credits	Availability	Module Cap	Location
Tied	1	20	Available in 2025/2026	None.	Durham

Tied To

Pre-requisites

A level Mathematics, minimum grade A or equivalent

Corequisites

Principles of Economics (ECON1011).

Excluded Combinations

Calculus I (MATH1061), Single Maths A (MATH1561), Maths for Engineers and Scientists (MATH1551).

Aims

To familiarise students with the use of mathematical and numerical tools in solving economic problems, and to provide a quantitative basis for progression to final honours. In addition, students will have the opportunity to develop key skills.

Content

Mathematical Section - topics are likely to include: Equations; Matrix algebra; Differential calculus; Integral calculus.
Statistical Section - topics are likely to include: Descriptive statistics; Probability, Probability distributions; Sampling distributions; Confidence intervals; Hypothesis tests; Introduction to regression analysis

Learning Outcomes

Subject-specific Knowledge

an understanding of basic data analysis
an appreciation of the characteristics of economic data
a facility with the mathematical techniques of elementary algebra and optimisation
experience in using these techniques in economic model building and analysis

Subject-specific Skills

The ability to set up basic economic problems as systems of mathematical equations and solve constrained optimisation resource allocation problems
To understand statistical distributions and basic hypothesis testing

Key Skills

Written Communication -by completing the summatively-assessed project
Numeracy - e.g. by applying core mathematical and statistical skills to answer a range of examination questions
Problem Solving and Analysis - e.g. by applying the necessary mathematical and quantitative skills to a wide range of economic problems
Planning, Organisation and Time Management - e.g. by collecting and organising data for the statistical project and ensuring submission by the strict assignment deadline.
Initiative - e.g. by searching relevant literature and information in preparation for the project.
Computer Literacy and Information Retrieval - e.g. by the compulsory use of word processing and spreadsheets in the production of the summative project

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

Teaching is by lectures and workshops. Learning takes place through attendance at lectures, preparation for and participation in workshops, and private study.
Summative assessment is by means of an in-person written examination to test students knowledge and understanding of the subject-matter, a written assignment to test their ability to apply what they have learned and online tests on a continuous basis. Formative assessment is by means of online tests as preparation for the continuous assessment component of the summative assessment.

Teaching Methods and Learning Hours

Activity	Number	Frequency	Duration	Total Hours	Attendance Monitored
Lectures	40	2 per week	1 hour	40
Revision Classes	2	1 per week in Term 3	1 hour	2
Workshops	8	4 in Term 1, 4 in Term 2	1 hour	8	Yes
Practicals	2	2 in term 2	1 hour	2	Yes
Preparation and Reading				148
Total				200

Summative Assessment

Component	Component Weighting	Element	Length/Duration	Element Weighting
Examination	60%	On Campus Written Examination	2 hours	100%
Assignment	20%	Assignment	1500	100%
Continuous Assessment	20%	General Test		100%

Formative Assessment

Online 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.