| CODE | ECN1005 | ||||||||
| TITLE | Principles of Economics | ||||||||
| UM LEVEL | 01 - Year 1 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 5 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Economics | ||||||||
| DESCRIPTION | This course introduces students to basic economic concepts regarding the behaviour of consumers and firms within different market structures and trade environments. The course also considers issues related to macroeconomic setups and reviews the role of government in markets for goods, services and social support. Study-unit Aims This study-unit aims to inject economic knowhow within the students’ skills portfolio. In particular, the objective of this unit is to present empirical world scenarios wherein students are exposed to the interdependent nature of the global economy. This, in turn, has a direct effect on the accounting and financial profession in the public and private sectors of the economy. Moreover, being knowledgeable of economic principles helps students to better understand key economic concepts and their applicability, including basic statistical tools. Finally, this unit aims to integrate economic knowhow and financial acumen to design evidence-based public policy. Learning Outcomes 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Define basic economic concepts and be aware of their 'limitations' when applied to everyday realities. - Apply such conepts/models to understand better policy formation - Analyse the effects of past policy decisions taking into account not only economic criteria but demographic, social and cultural factors. 2. Skills (including transferable [generic] skills): By the end of the study-unit the student will be able to: Follow systematically the evaluation of economic and social issues in terms of time frames, market structures and state-private relationships with emphasis on pre- and post-EU membership contexts. Main Text/s and any supplementary readings 1. No specific textbook is being recommended. Any other introductory textbook of Economic Theory will do. 2. E. P. Delia, 2002, Keynote Speeches – Second Edition, APS Bank Occasional Papers: 1 3. E, P. Delia, 2006, Papers on Malta’s Political Economy – Second Edition (Malta; Midsea Books) 4. E. P. Delia 2006, “Economic Efficiency, Solidarity, and the Co-operative model” in Reconsidering Co-operatives – Lessons for Maltese Co-ops, APS Bank Occasional Papers: 6 |
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| RULES/CONDITIONS | In TAKING THIS UNIT YOU CANNOT TAKE EST1040 OR TAKE EST1041 | ||||||||
| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Christian Pace |
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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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