Economics B

This information is for the 2013/14 session.

Teacher responsible

Prof Francesco Caselli 32L 1.21 and Prof Gianmarco Ottaviano 32L 2.27A


This course is compulsory on the BSc in Accounting and Finance, BSc in Actuarial Science, BSc in Econometrics and Mathematical Economics, BSc in Economic History with Economics, BSc in Economics, BSc in Economics and Economic History, BSc in Economics with Economic History, BSc in Environmental Policy with Economics, BSc in Geography with Economics, BSc in Government and Economics, BSc in Management, BSc in Mathematics and Economics, BSc in Mathematics with Economics, BSc in Philosophy and Economics, BSc in Social Policy and Economics and BSc in Statistics with Finance. This course is available on the BSc in Business Mathematics and Statistics, BSc in Economic History, BSc in Environment and Development, BSc in Human Resource Management and Employment Relations, BSc in International Relations, BSc in Management Sciences and BSc in Social Policy. This course is available as an outside option to students on other programmes where regulations permit and to General Course students.


This is an introductory course in microeconomics and macroeconomics for those expecting to take further courses in economics. Knowledge of A-level economics is an advantage, while some knowledge of mathematics (eg elementary calculus) is strongly recommended. Students without a mathematical background need to take an introductory mathematics course, such as Basic Quantitative Methods, at the same time. EC102 is unavailable to anyone who has passed Economics A.

Course content

Part A Consumer and Producer Theory; Competitive Model; Welfare and Market failures; Monopoly, oligopoly and monopolistic competition; Game Theory; Missing markets . Part B Measurement of the aggregate economy; money and inflation; trade and exchange rates; unemployment; economic fluctuations; stabilization policy; growth and development.


20 hours of lectures and 8 hours of classes in the MT. 20 hours of lectures and 10 hours of classes in the LT. 18 hours of lectures and 2 hours of classes in the ST.

Indicative reading

Part A: Morgan W., M. Katz and H. Rosen (2009) Microeconomics, 2nd edition, McGraw-Hill. Part B: N Gregory Mankiw, Macroeconomics, Worth, 8th edition.


Exam (100%, duration: 3 hours) in the main exam period.

The examination is based on the full syllabus of parts A and B of the course.

Key facts

Department: Economics

Total students 2012/13: 823

Average class size 2012/13: 15

Value: One Unit

Guidelines for interpreting course guide information

PDAM skills

  • Self-management
  • Problem solving
  • Application of numeracy skills

Course survey results

(2010/11 - 2012/13 combined)

1 = "best" score, 5 = "worst" score

The scores below are average responses.

Response rate: 86.1%



Reading list (Q2.1)


Materials (Q2.3)


Course satisfied (Q2.4)


Lectures (Q2.5)


Integration (Q2.6)


Contact (Q2.7)


Feedback (Q2.8)


Recommend (Q2.9)