ECNP002 - Macroeconomics for Business and Policy

This module information is representative of what is included in the module in a given year. Details of actual reading, lectures, assessment and coursework may vary year to year and will be available at the beginning of the semester.

 

Semester

Spring

Level

11

Credit value

20

Contact hours

40 contact hours

Assessment

50% coursework (40% class test; 10% class participation)

50% examination (resit offered)

Class test will be 1 hour in duration and based on essay questions. Exam will be 2 hours in duration. 

Macroeconomics for Business and Policy will provide a solid grounding in macroeconomics exploring relevant theories and evidence as applied to current policy and business issues. It will be designed to link theory to practice and evidence, and to be accessible to students with no prior expertise in economics. The module will include elements of applications to businesses. 

Syllabus outline

The module serves as one of the core economic foundations on which the programme builds. It will enable the development of students’ knowledge and analytical skills to equip them for a successful career in the public, private and non-profit sectors at both national and international levels. 

Explicit emphasis will be given to (a) how macroeconomic events shape current relevant business and policy issues (b) discuss different types of macroeconomic policies and goals (c) the role and function of the Central Bank and Treasury in modern economies and their impact on businesses and households.

The aims and objectives of the module are:

The primary objective of the module is to provide an introduction and grounding in the core foundations and application of macroeconomic theory to analyse and evaluate contemporary as well as recent business and policy issues. Through the systematic blending of theory and application, a related objective is to gain an appreciation of the key tools developed in macroeconomic theory for the purpose of business and policy evaluations.

Upon completion of the modules, students will have knowledge and understanding of:

  • Macroeconomic goals and policies;
  • The role of Central Banks and Treasury;
  • The latest developments in applied macroeconomic theory, including the analysis of recessions;
  • The impact of macroeconomic policies and events on businesses and households.

Learning outcomes

By the end of the module, students are expected to have developed the following learning outcomes and skills:

Specific knowledge and understanding of current developments in the subject.

  • Acquire knowledge, skills and experience for a successful career in business and policy analysis in public, private and non-profit sectors;
  • Develop an understanding of principles of economics and how these are applied to evaluate macroeconomic and microeconomic performances;
  • Develop an ability to design and apply data analysis to business and policy issues.

Generic skills (e.g. Information skills/oral and written communication skills/numeracy/team working/personal organisational skills).

  • Develop quantitative skills to enable the understanding and evaluation of official statistics, business and consulting reports, research and economic policy;
  • Develop and enhance capabilities and confidence for championing business and policy analysis across all type of organisations.

Cognitive: (e.g. analytical/problem-solving/interpretative/critical reasoning).

  • Develop and enhance personal, critical, analytical, interpersonal, leadership and entrepreneurial skills.

Reading List

To be confirmed

 

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