Study-Unit Description

Study-Unit Description


CODE IRL1025

 
TITLE Introduction to Economics

 
LEVEL 01 - Year 1 in Modular Undergraduate Course

 
ECTS CREDITS 4

 
DEPARTMENT International Relations

 
DESCRIPTION This study-unit is intended to provide the necessary economic background to students undertaking studies in international relations. It introduces fundamental economic concepts and core issues in economic theory and analysis. Examples related to the field of international relations are provided throughout the course in order to explain better the relevance and intuition underpinning the various economic concepts that are discussed. Topics and themes to be covered in this study-unit include:

- Thinking like an economist;
- The concept of market equilibrium;
- Measuring the size of an economy;
- Inflation;
- Unemployment;
- Macroeconomic data: sources and analysis;
- Fiscal and monetary policies;
- Policies for growth.

Study-unit Aims:

This study-unit aims at tackling the basic principles of international trade and finance whilst presenting a comprehensive, yet concise, overview of the main themes in international economics within the ambit of International Relations.

Learning Outcomes:

1. Knowledge & Understanding:

By the end of the study-unit the student will be:

- Able to demonstrate knowledge and understanding of the basic economic principles;
- Able to link economic issues/concepts to the field of international relations;
- Familiar with key macroeconomic data; and
- Able to evaluate economic arguments and policies.

2. Skills:

By the end of the study-unit the student will be able to:

- Perform basic economic analysis; and
- Follow up on economic debates.

Main Text/s and any supplementary readings:

- Sowell, T (2011) Basic Economics: A Common Sense Guide to the Economy, Basic books publishers New York.
- Mankiw, M.G. ( 2012) Principles of Economics, Cengage Learning publishers.
- Marshall, A (2010) Principles of Economics, Cosimo Publications New York.

 
STUDY-UNIT TYPE Lecture

 
METHOD OF ASSESSMENT
Assessment Component/s Assessment Due Resit Availability Weighting
Assignment SEM1 Yes 100%

 
LECTURER/S Malcolm Bray

 
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 2020/1. It may be subject to change in subsequent years.

https://www.um.edu.mt/course/studyunit