Introductory Macroeconomics

Module Code

ECNU112

Semester

Spring

Prerequisite

Mathematics at Standard grade 3 or GCSE grade C or permission of the Director of Undergraduate Programmes. Not open to students who have passed or are taking ECNU115.

Level

8

Credit value

20

Module Co-ordinator

Mrs Alie Hilda de Vries

Assessment

Grades will be awarded for each of two coursework components, the two class tests. A coursework average grade will be computed using the following weights: 1st class test 50%, 2nd class test 50%

If you gain an overall coursework average of at least 65%, you will be exempt from the examination. Your final grade will be your overall coursework grade.

If you do not meet the above condition for an exemption, you should take the examination. Your module grade will be computed by weighting the components of assessment as follows: two class tests 20% each and the exam 60%.

Module Description

The module introduces students to the foundation of Macroeconomics, like GDP, inflation, employment, monetary and fiscal policy.

Module Objectives

To provide an introduction to the concepts, theories and models of the economy which are the foundation blocks of macroeconomics.
To make possible informed discussion of how the macroeconomy functions and the main fiscal and monetary policy options.

Learning Outcomes

Knowledge and understanding of:

  • what the key issues in macroeconomics are
  • the measurement of National Income, inflation and economic welfare;
  • the nature and determinants of economic growth
  • unemployment
  • inflation
  • how financial markets work
  • the determination of interest rates
  • the Keynesian income-expenditure model and the concept of the multiplier
  • the aggregate demand/aggregate supply model
  • fiscal policy, in theory and in UK practice
  • the definition of money, the operations of banks and other financial intermediaries
  • the role of the central bank, money supply and demand, and monetary policy in theory and in UK practice
  • the potential benefits and cost of a currency union

Preparatory Work

Parkin, M., Powell, M. & Matthews, K., Economics, Pearson, Harlow

 

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

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