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