EC103-Economics for Construction & Engineering

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Level:4
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded: EC113 Introductory Microeconomics and EC114 Introductory Macroeconomics and IC103 Introductory Economics for Business and Finance
Current from: 2021/2

Module Convenor: Dr Maria Asensio
Email: m.j.asensio@reading.ac.uk

Type of module:

Summary module description:

The module aims to provide a basic introduction to economics.

Aims:

The module aims to provide a basic introduction to economic actors and markets within a framework Ìýthat illuminates reasons for public policy interventions.

Assessable learning outcomes:

The module emphasises the understanding of economic principles and key tools of analysis.Ìý Upon completion of the module, students should be able to understand how economics helps to address major policy challenges and debates, and how economists use the toolbox (models, data and narrative) to explain real-world phenomena.Ìý The module will enhance students’ analytical skills.

Additional outcomes:

The module will assist students in developing an overall awareness of the workings of the economy, the operation of economic policy and their significance on business decisions and outcomes. The module will enhance students' analytic skills.Ìý

Outline content:

• Capitalism and democracy: Affluence, inequality, and the environmentÌý


• Social interactions and economic outcomesÌý


• Public policy for fairness and efficiencyÌý


• Modelling individual choices and interactions


• The Firm: Employees, managers and owners


• Market successes and failures


• Firms and markets for goods and servicesÌý


• The labour market and the product mar ket: wages, profits and unemployment


• The credit market: Borrowers, lenders, and the rate of interestÌý


• Banks, money, housing, and financial assetsÌý

Brief description of teaching and learning methods:

Lectures, web-based learning and guided independent study.Ìý

Contact hours:

Ìý	Autumn	Spring	Summer
Lectures		20	2
Tutorials		5
Guided independent study:		55	18
Ìý	Ìý	Ìý	Ìý
Total hours by term		80	20
Ìý	Ìý	Ìý	Ìý
Total hours for module	100

Summative Assessment Methods:

Method	Percentage
Written exam	60
Practical skills assessment	20
Set exercise	20

Summative assessment- Examinations:
One two-hour examination in the Summer term.

Summative assessment- Coursework and in-class tests:

Coursework has a total weight of 40% in the final mark for this module. It will comprise of two on-line tests which will count for 20% of the mark, and one practical exercise which will count for the remaining 20%.

Formative assessment methods:

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• 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 five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at:
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.

Assessment requirements for a pass:
A minimum mark of 40%.

Reassessment arrangements:
Re-examination for Part 1 modules takes place in August/September of the same year.

Additional Costs (specified where applicable):

1) Required text books:Ìý Ìý

2) Specialist equipment or materials:Ìý None

3) Specialist clothing, footwear or headgear:Ìý None

4) Printing and binding:Ìý There may be optional costs associated with photocopying or printing sources listed on the reading list relating to this module. Please note that the Library charges approximately 5p per photocopy.Ìý

5) Computers and devices with a particular specification:Ìý None

6) Travel, accommodation and subsistence:Ìý None

Last updated: 30 July 2021