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AD1EEN: The Economic Environment
Module code: AD1EEN
Module provider: School of Agriculture, Policy and Development
Credits: 20
Level: Level 1 (Certificate)
When you'll be taught: Semester 1
Module convenor: Dr Cherry Law, email: t.law@reading.ac.uk
Pre-requisite module(s):
Co-requisite module(s):
Pre-requisite or Co-requisite module(s):
Module(s) excluded:
Placement information: NA
Academic year: 2024/5
Available to visiting students: No
Talis reading list: No
Last updated: 20 May 2024
Overview
Module aims and purpose
This module aims to introduce students to key microeconomic and macroeconomic concepts, and their relevance to some of the important challenges facing individuals, businesses, and societies across the globe.Â
Why do we see different prices for the same products? Why do governments put taxes on tobacco and alcohol? How do businesses decide how much to produce? Why do governments intervene to promote competition in the markets? Why do we need environmental policy? What is interest rate and how does it affect us? Why do countries trade with each other? These are some of the topics that we will address, whilst developing a basic understanding of key economic concepts, and their relevance to some of the key challenges facing individuals, businesses, and societies across the globe.Â
Module learning outcomes
By the end of the module, it is expected that students will be able to:Â
- Describe basic microeconomic and macroeconomic principles and theories and apply key economic concepts to analyse real world problems at the individual, business, and country levelÂ
- Recognise how government policies and other real-world economic events may affect the livelihood of people and the economic conditions under which the businesses may operateÂ
- Apply economic theories and tools to solve simple economics problems Â
- Demonstrate analytical and problem-solving skills, bringing logical, quantitatively orientated thinking to analysing economic concepts Â
Module content
Topics covered will include the following:Â
- What is economics and key societal challenges that economics can addressÂ
- Supply and demand, and how prices are determinedÂ
- Different market structures including perfect competition, monopoly, oligopoly, and monopolistic competition. Â
- Why governments intervene in markets, with a focus on market failureÂ
- The fundamentals of macroeconomics, including economic growth, business cycle, unemployment and inflationÂ
- How governments achieve macroeconomic objectives: demand- and supply-side policies Â
- World economy: the economic theories behind international trade and the foreign exchange marketÂ
Structure
Teaching and learning methods
This module draws on real-world examples from higher and lower-income countries across the globe, to illustrate economic concepts that are globally relevant. Lectures are supplemented with practical exercises designed to strengthen students’ understanding of theoretical and applied concepts and to develop their quantitative and analytical skills. The main text for the module is supported by an interactive e-learning environment with case studies and discussion boards to practise applying economic concepts to explain and address some of the key challenges at the individual, business, and society level. Students will test their knowledge each week through online multiple-choice quizzes. Â
Study hours
At least 44 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.
 Scheduled teaching and learning activities |  Semester 1 |  Semester 2 | Ìý³§³Ü³¾³¾±ð°ù |
---|---|---|---|
Lectures | 34 | ||
Seminars | |||
Tutorials | |||
Project Supervision | |||
Demonstrations | |||
Practical classes and workshops | 10 | ||
Supervised time in studio / workshop | |||
Scheduled revision sessions | |||
Feedback meetings with staff | |||
Fieldwork | |||
External visits | |||
Work-based learning | |||
 Self-scheduled teaching and learning activities |  Semester 1 |  Semester 2 | Ìý³§³Ü³¾³¾±ð°ù |
---|---|---|---|
Directed viewing of video materials/screencasts | |||
Participation in discussion boards/other discussions | 3 | ||
Feedback meetings with staff | |||
Other | |||
Other (details) | |||
 Placement and study abroad |  Semester 1 |  Semester 2 | Ìý³§³Ü³¾³¾±ð°ù |
---|---|---|---|
Placement | |||
Study abroad | |||
 Independent study hours |  Semester 1 |  Semester 2 | Ìý³§³Ü³¾³¾±ð°ù |
---|---|---|---|
Independent study hours | 153 |
Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.
Semester 1 The hours in this column may include hours during the Christmas holiday period.
Semester 2 The hours in this column may include hours during the Easter holiday period.
Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.
Assessment
Requirements for a pass
Students need to achieve an overall module mark of 40% to pass this module.
Summative assessment
Type of assessment | Detail of assessment | % contribution towards module mark | Size of assessment | Submission date | Additional information |
---|---|---|---|---|---|
Written coursework assignment | Essay | 60 | 2,000 words | Semester 1, Assessment Week 3 | Submitted online via Blackboard. |
In-class test administered by School/Dept | Test | 20 | 1 hour | Semester 1, Teaching Week 7 | Multiple choices questions. |
In-class test administered by School/Dept | Test | 20 | 1 hour | Semester 1, Teaching Week 12 | Multiple choices question. |
Penalties for late submission of summative assessment
The Support Centres will apply the following penalties for work submitted late:
Assessments with numerical marks
- where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
- the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
- where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
- where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.
Assessments marked Pass/Fail
- where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
- where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.
The University policy statement on penalties for late submission can be found at: /cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.
Formative assessment
Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.
A range of formative assignments, including multiple choice questions and short questions, to ensure students are keeping up with key concepts.Â
Reassessment
Type of reassessment | Detail of reassessment | % contribution towards module mark | Size of reassessment | Submission date | Additional information |
---|---|---|---|---|---|
Written coursework assignment | Essay | 100 | 2,000 words |
Additional costs
Item | Additional information | Cost |
---|---|---|
Computers and devices with a particular specification | ||
Required textbooks | Sloman, John, Alison Wride, and Dean Garratt. Economics. Pearson, 2021 (hard copy and ebook available from Library) | |
Specialist equipment or materials | ||
Specialist clothing, footwear, or headgear | ||
Printing and binding | ||
Travel, accommodation, and subsistence |
THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.