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Induction Meeting for EC111 – Introduction to Economics

Induction Meeting for EC111 – Introduction to Economics. Lecturers: Katharine Rockett (Autumn Term, Microeconomics) Office: 5B.334, Email: kerock@essex.ac.uk Tim Hatton (Spring Term, Macroeconomics) Office: 5B.122; Email: hatton@essex.ac.uk. Structure of Teaching and Learning.

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Induction Meeting for EC111 – Introduction to Economics

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  1. Induction Meeting for EC111 – Introduction to Economics Lecturers: Katharine Rockett (Autumn Term, Microeconomics) Office: 5B.334, Email: kerock@essex.ac.uk Tim Hatton (Spring Term, Macroeconomics) Office: 5B.122; Email: hatton@essex.ac.uk

  2. Structure of Teaching and Learning • 2 h of lectures/week • University Weeks 2–11 (Autumn) and 16–25 (Spring) • AUTUMN: Tue; 1-2PM (IC B); Thurs 10-11 (IC B) • Lecture presentations, lecture notes, problem sets will be available in the ORB: http://orb.essex.ac.uk/EC/EC111/ • 1 h class/week with Graduate Teaching Assistant (“GTA”) • University Weeks 3–11 (Autumn) and 16–25, 30 (Spring) • Opportunity to ask questions • One problem set for each week – in the ORB at address, above, as “exercises” • Preparation of the problem set before the class is important! • Each student assigned to a class – https://www.essex.ac.uk/depttimetables/ • Attendance of lectures + classes + independent study throughout the year!

  3. Assessment • 2 tests and 2 Assignments (“coursework”) • Assignment 1: deadline Monday, 25 November at 12:00. • Test 1: Friday, 17 January, 1-3 pm. • Assignment 2: deadline Monday 3 March at 12:00 • Test 2: Friday, 14 March, 1-3 pm. The weights for the coursework are: Assignment 1=30%, Assignment 2=30%, Test 1=20%, Test 2=20% • Final exam • 3 h exam in the Summer examination period

  4. Questions? • Technical issues (contents of lectures, problem sets, tests/exam, assessment) or feedback on progress • Course supervisors and GTAs • Email, Office hours (Rockett – Fridays 9:30-11 or by appointment) • Administrative inquiries (enrolment, attendance, marks) • Julie Oliver • Office: 5B.209; tel: 873 943 • Email: joliver@essex.ac.uk • Department’s website (ec111 in degree courses, learning objectives): • http://www.essex.ac.uk/economics/ • Course Materials (all materials for the course): • http://orb.essex.ac.uk/EC/EC111/ • Undergrad Economics Handbook 2013–2014 (marking scheme and guide): • http://www.essex.ac.uk/economics/documents/current/ug/ug_handbook.pdf

  5. WHAT IS THIS MODULE ABOUT? Ec111 is a module designed to provide a broad overview of economics. At the end of the module you should be able to appreciate and apply economic reasoning to a range of mechanisms and institutions which allocate and distribute resources.

  6. MAIN TOPICS In this module you will learn: • The economic theory of individual (micro) behaviour: How choices are made by consumers and producers to determine what is made, how it will be produced, to whom it is allocated, and criteria for evaluating these outcomes and ways of organising the economy. • How to analyse aggregate (macro) economic activity: The determinants of aggregate demand and supply, economic growth, the role ofinflation in economic performance, conceptions and behaviour of unemployment, and implementation of economic policy.

  7. MATH LEVEL • Mathematics is an important language and it is widely used in economics (algebra, graphs). • In EC111 we will use some mathematics to explain some economic concepts (through economic models). • However the mathematics involved will be quite basic and it will be explained in the lecture notes. • Getting familiar with the use of basic math is very helpful (not only for EC111).

  8. COURSE MATERIAL • The main books are: Begg et al, Economics, 10th edition, McGraw-Hill... OR... Sloman and Wride, Economics, 8th edition, Pearson. nb: Sloman available at http://serlib0.essex.ac.uk/record=b1813725~S5 Every week lecture notes, the lecture presentation (PowerPoints) and a problem set will be in the ORB. Outlined solutions to the problem set will be available the following week. NOTE: The lecture notes do not substitute the book: these are complementary, and both are very important!

  9. WHAT IF I STRUGGLE WITH THIS MODULE? • Focus on the main topics of each lecture and read carefully the lecture notes, lecture presentation and the relevant parts of the book; Main concepts are listed on each problem set; • Try to go through the problem sets before and after the class; Attend the support class Thursday 9-10AM, 5.300B • Go through the past exams that are available online and get feedback from course supervisor or GTA; • Talk directly to the lecturers and/or to your GTA.

  10. A FEW SUGGESTIONS • Study on a regular basis: don’t wait for the midterm tests to be too close! If you study regularly it is normally easy to revise the material when you are close to the final exam. • Do well on the coursework: it is a good indicator of how you will do on the final exam. • Don’t just memorize the material: you’ll need to explain concepts and apply techniques to new areas on the exams: the questions will largely be “unseen”. • Always try to solve the problem sets before going to class. • Find a “buddy”!

  11. FINALLY HAVE FUN (AND STUDY)!

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