Fundamentals of economics 1

obowiązkowe

studia pierwszego stopnia

English Philology - Practical Profile

semestr 1

studia stacjonarne

profil praktyczny

fakultatywne
obowiązkowe

Mieszany: realizowany zdalnie i w sali

Business English elective module

ECTS points in relation to student’s duties

total number of ECTS: 2

1 ECTS: 30h in classes (50% online; 50% university site)

0,5 ECTS: 15h direct contact with the instructor

0,5 ECTS: 15h preparation for classes and credit test

Course description

The coursein Fundamentals of economics 1 belongs to the Business English elective module. It familiarises the students with the basics of economics to give them the understanding of the world in which they live. Being a departure point for the second semester course of “Fundamentals of economics 2,” the course focuses on such issues as general definitions of economics and macroeconomic issues (prices, unemployment, Gross Domestic Product, the laws of demand and supply, types of economy, money, monetary and fiscal policy and the theories of economic growth).

Course objectives

-familiarising with basic economic phenomena and laws, which are of a social nature, and which concentrate on the production, distribution and consumption of goods and services.

-familiarising with selected phenomena in the macro-scale economy

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Course content:

- key concepts and definitions of economics,

- main economic activities: production and trade,

- the laws of demand and supply,

- prices,

- unemployment,

- Gross Domestic Product,

- economic stability and fiscal policy,

- self-regulation in economy,

- money and monetary policy,

- theories of economic growth.

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Methods of instruction/ forms of classroom activity:

presentation, discussion, individual work, group work, ICT tools/MSTeams

Reading list:

A1. used in class

Platje, J. (2006). A short introduction to micro- and macroeconomics. Opole: Wydawnictwo UO.

A2. used for self-study

Begg, D., Fischer, S., and Dornbusch, R. (2008). Economics (8th ed.). Maidenhead: McGraw-Hill.

B. supplementary reading

Bannock, G. (1987). The Penguin dictionary of economics. Harmondsworth: Penguin Books.

Learning outcomes acc to PRK 2019

Knowledge

The student knows and understands:

1. position and importance of the English language and philological studies in the fields of business and economy (k_W01/P6S_WK),

2. the methodology, norms, procedures and good practice in business (k_W05/P6S_WK)

3. the concept of economics with orientation towards practical applications (k_W04/P6S_WG; m-W-1/P6S_WG),

4. economic institutions and their role in business world (m-W-3/P6S_WG)

Skills

The student can

5. carry out research to collect data for diagnosing needs of a company (k_U04/P6S_UW; m-U-3/P6S_UW)

6. use English at the standardised C1 fluency level, with focus on English in Business (k_U06/P6S_UK)

Social competences

The student is ready to

7. propose solutions to analysable economic problems by thinking and acting in an enterprising way (k_K02/P6S_KK; m-K-3/P6S_KK)

Forms of evaluation of learning outcomes:

1. Two individual in-class problem-solving tasks - 25% of the final grade (outcome: 1,2,3,4,5,6,7)

2. Two group in-class problem-solving tasks - 25% of the final grade (outcome: 1,2,3,4,5,6,7)

3. A final test with pass at the minimum of 60% - 50% of the final grade (outcome:1,2,3,4,5,6,7)

Summarizing evaluation:

Weighted arithmetic average of the above.

Criteria of evaluation:

total score: 0 – 59% - mark: 2,0

total score: 60 – 68% - mark: 3,0

total score: 69 – 76% - mark: 3,5

total score: 77 – 84% - mark: 4,0

total score: 85 – 92% - mark: 4,5

total score: 93 – 100% - mark: 5,0