FOUNDATIONS OF ECONOMIC DATA INTERPRETATION - 2026/7

Module Overview

This module provides an introduction to the quantitative methods essential for economics. It focuses on understanding, presenting, and interpreting economic data using descriptive and graphical techniques. Students learn how economists use data to describe economic phenomena, identify patterns and trends, and make informed arguments about real-world issues.

Through hands-on exercises using excel, students develop the skills to summarise datasets, calculate and interpret key measures, and visualise information clearly. By the end of the module, students will be able to approach economic questions with a structured and evidence-based mindset, ready for further study in quantitative economics.

Module provider

Economics

Module Leader

COSTAS-FERNANDEZ Julian (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 3

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

None

Module content

Indicative topics in the module include 

• Introduction to economic data: sources, formats, and reliability
•  Organisation and presentation of economic data (tables, charts, and graphs)
• Descriptive statistics: measures of central tendency (mean, median, mode) and dispersion (range, variance, standard deviation)
• Working with index numbers and real versus nominal values
• Introduction to probability and sampling ideas (conceptual overview)
• Interpreting simple economic indicators (inflation, GDP, unemployment rates)
• Using spreadsheets for basic data analysis and visualisation
• Communicating quantitative findings in clear, policy-relevant language

Assessment pattern

Alternative Assessment

N/A

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of the introductory level core microeconomic theory. Students will be able to reinforce their mathematical skills development whilst experiencing the pressures of examination conditions. Students will also learn to interpret authentic economic problems as described in the media, interpret those problems in terms of formal economic theory, and respond in an economically informed way.

Thus, the summative assessment for this module consists of:

• A class test (addresses learning outcomes 001, 002, 003, 004)
• A final examination (addresses learning outcomes 002, 003, 005, 006)

Formative assessment and Feedback: Tutorials will be used in part to provide students with example exercises, skills sessions, and group feedback to prepare them for the summative assessments. Students will receive written feedback on their formative reading response essay, and verbal feedback during the lectures and tutorials through direct questioning. After the class tests, the test questions, solutions, and main feedback will be discussed in class. All this feedback will help students to judge their own performance and prepare for the final exam. In addition, students will be encouraged to attend the student consultation hours of the teaching staff to receive further individual feedback.

Module aims

• Introduce students to the role of quantitative methods in economics
• Develop confidence in describing and interpreting economic data
• Build practical skills in organising, summarising, and visualising data
• Foster an understanding of how quantitative evidence supports economic reasoning
• Prepare students for more advanced study in applied and theoretical economics

Learning outcomes

Methods of Teaching / Learning

The module combines lectures, workshops, and guided independent study. Lectures introduce core concepts and demonstrate their economic applications. Lab sessions provide opportunities for students to practise data handling and analysis using real examples.

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: ECO0005

Other information

The School of Economics is committed to developing graduates with strengths in Employability, Digital Capabilities, Global and Cultural Capabilities, Sustainability, and Resourcefulness and Resilience. This module is designed to allow students to develop knowledge, skills, and capabilities particularly in the following area:

Resourcefulness and Resilience: Through teaching students not only the basic tools of economic interpretation and analysis to prepare them for entry into the level 4 program, but also helping them to develop the study skills, work habits and academic maturity required for the program.

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2026/7 academic year.