| CODE | ECN1001 | |||||||||
| TITLE | Introductory Economics | |||||||||
| UM LEVEL | 01 - Year 1 in Modular Undergraduate Course | |||||||||
| MQF LEVEL | Not Applicable | |||||||||
| ECTS CREDITS | 8 | |||||||||
| DEPARTMENT | Economics | |||||||||
| DESCRIPTION | Target Students: This study unit is intended for Part I of the B.Com Course. This study unit combines ECN1011 and ECN1021 Objectives: The Introductory microeconomic component consists of an analysis of contemporary economic institutions and problems, price determination and the role of competition, the theory of consumer behaviour, the theory of the firm and market structures. The introductory macroeconomic component consists of an analysis of contemporary economic institutions and problems, the theory of output, prices and employment, the role of money and the banking system, monetary and fiscal policy, the theory of international trade and finance. Content: Nature, Relevance and Methodology The Price System, Elasticities, Price Controls Theory of Consumer Behaviour and the Market Demand Indifferent Curve Analysis Theory of Production Cost and Supply in the Short and Long Run Pricing in Competitive and Monopoly Markets The Theories of Oligopoly and Imperfect Competition Factor Pricing and Employment of Input Income Distribution General Equilibrium Analysis Externalities and Market Failure Microeconomic Policy Circular Flow of Goods and Money Value Added and GDP Economic Fluctuations, Unemployment and Inflation Aggregate Demand and Supply curves Consumption and Savings Functions Investment and its Determinants Determining Equilibrium income Multiplier Analysis International Trade and the Economy Fiscal Policy Money and the Economy The role of money income determination The inflation-unemployment trade-off Supply Side Economics Balance of Payments and Exchange Rate Policy Incomes Policies Reading List: - Lipsey, R., Positive Economics (Latest Edition) - Samuelson, P., Economics (Latest Edition) - Eckert, D.J. and Leftwich, R.H., The Price System and Resource Allocation - Waud, R., Maxwell P., Hocking T., and Bonnici J., Economics - 3rd Australian Edition 1996 - Samuelson, P., Economics (Latest Edition) - Eckert, D.J. and Leftwich, R.H., The Price System and Resource Allocation These are some of the classical introductory textbooks. There are many other acceptable ones. Students are advised to consult their lecturer or tutor before purchasing a new title. |
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| STUDY-UNIT TYPE | Lecture | |||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Amanda Borg Lino Briguglio Marie Briguglio Clyde Caruana Ian P. Cassar Jean Paul Fabri Waldemar Galea Silvio Schembri Stephanie Vella Philip Von Brockdorff |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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