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IE0251 - Foundation Economics

Academic year

2020-2021 (Semester 2)

Key module information

SCOTCAT credits


The Scottish Credit Accumulation and Transfer (SCOTCAT) system allows credits gained in Scotland to be transferred between institutions. The number of credits associated with a module gives an indication of the amount of learning effort required by the learner. European Credit Transfer System (ECTS) credits are half the value of SCOTCAT credits.

SCQF level

Excluded from the Advising system

The Scottish Credit and Qualifications Framework (SCQF) provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Availability restrictions

This module will only be available to students who have been accepted onto IE Foundation Programmes.

Planned timetable

To be arranged

This information is given as indicative. Timetable may change at short notice depending on room availability.

Module coordinator

Ms A M Malcolm-Smith

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module Staff

Ms Alison Malcolm-Smith

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module description

Typically, the programme will include: This module provides an introduction to a broad range of economic concepts and theories. It considers both microeconomics - the analysis of choices made by individual, households and firms, and macroeconomics - the analysis of the economy as a whole. Microeconomic topics include, among others, demand, supply, elasticities, market structures. Macroeconomic topics include, among others, GDP, Inflation and Unemployment. Policies used by governments to address economic problems and reach objectives will also be examined. Both theories and real life case studies will be analysed. The module aims to provide students with an understanding of basic economics principles that they can develop further in their future studies By the end of the course the student will be able to: - Understand the basic principles of Micro and Macro economic theory - Analyse and critically assess information from a variety of texts and sources

Assessment pattern

As used by St Andrews

1-hour Written Examination = 100%

As defined by QAA

Written examinations = 100%
Practical examinations = 0%
Coursework = 0%

The Quality Assurance Agency (QAA) have compiled/developed an indicative list of learning and teaching methods:
  • Written: Is included in this category any assessment done under exam conditions (exams during diets, class tests) that do not involve the use of practical skills.
  • Practical: Are included in this category oral assessment and presentation as well as practical skills assessed in situ (in a classroom or laboratory for instance). Performances in the performing arts context are also classed as practical assessment.
Further details can be found on the QAA website.


1-hour Written Examination = 100%

Learning and teaching methods and delivery

Weekly contact

2 lectures (x 6 weeks) ; 1 tutorial (x 6 weeks)

Scheduled learning hours


The number of compulsory student:staff contact hours over the period of the module.

Guided independent study hours


The number of hours that students are expected to invest in independent study over the period of the module.