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SSST Subjects

EC 130 Introduction to Macroeconomics

 
 

Programme(s) where module is offered

  • BSc in Economics with International Business
  • BSc in Economics with Finance
  • BSc in Business and Management with Finance
  • BSc in Business and Management with Economics
  • BA in Political Science and International relations and Economics
  • BSc in Computer Science and Economics
  • BSc in Information System and Economics
 

Status (core, option, free choice)

Core

 

FHEQ Level

4

 

Unit Value

8 ECTS

 

Semester taught

Spring

 

Pre-Requisite Modules or Qualifications

None

 

Module Code

EC 130

 

Module coordinator

TBD

 

Applicable From

2017

 

Educational Aims of the Module

  • The aim of this module is to provide students with a self-contained introduction to macroeconomics. This module aims to encourage the acquisition of general skills relating to unemployment; inflation and deflation; gross domestic product, the business cycle; fiscal policies and so on.
  • This module aims to offer a fresh and stimulating approach stabilization, international trade and economic development. Also, it examines models of government deficit and debt, as well as monetary policies.
  • Moreover, students will be able to get deeper knowledge and cover the preparatory material for more specialist courses in economics in subsequent years.
  • Finally, students will be able to better understand application of the theory in the real world by analyzing regional or geographical case studies popular at the time. The focus will be on case studies from EU and B&H.
 

Module Outline/Syllabus

  • Measuring a nation’s well being

  • Measuring the cost of living

  • Production and growth

  • Unemployment

  • Basic tools of finance

  • Open economy macroeconomics: Basic concepts

  • Aggregate demand and aggregate supply

  • The influence of monetary and fiscal policy on aggregated demand

  • Supply-side policies

 

Student Engagement Hours

Type Number per Term Duration Total Time

Lectures

30

2 hours

60

Consultations

15

1 hour

15
Total Guided/Independent Learning Hours 125
Total Contact Hours 75
Total Engagement Hours 200
 

Assessment Method Summary

Type Number Required Duration / Length Weighting Timing / Submission Deadline

Exam

1

3 hours

50%

Week 17

Mid-semester test

1

2 hours

20%

Week 8

Individual studying, in-class presentation and discussion based on additional readings assigned by the instructor

1

10 minutes (presentation and discussion)

10%

Week 5

Group project: Case study (including presentation)

 

Up to 2000 words;

20 minutes presentation

Written part: 15%

Presentation: 5%

Week 10

 

Module Outcomes

Intended Learning Outcomes:

  • To understand key economic terminology as used in the field of Economics and Macroeconomics and to be competent in reading the related literature.

  • To develop in-depth understanding of the constantly changing global environment

  • Articulate on the now dominant economic theories and their global, regional, country and business applications

  • Evaluate the interrelationships of political and economic factors.

  • Demonstrate knowledge of the major macroeconomic issues and objectives of macroeconomic policies

  • Evaluate the major national accounts

  • Apply understanding of the extended income-expenditure model

  • Manipulate the income- expenditure model algebraically and diagrammatically

  • Use the model to analyse a variety of policy choices

  • Demonstrate awareness of the exchange rate regime for macroeconomic policy

  • To recognize principles and concepts crucial for theoretical frameworks in Economics and Macroeconomics

Teaching and Learning Strategy:

  • This is an introductory course and will presume only macroeconomic principles it will primarily use a text book. In addition to the key text book, supplementary resources will be used. (ILO: 1-11

  • A variety of approaches to managing the learning process is introduced in order to be able to meet the ILOs. Teaching will be predominantly lectures, with ample time for discussion. (ILO:1-11)

  • Learning is organised and supported to encourage active learning, for example by using a range of assessment methods. Individual studying, in-class presentation and discussion based on additional readings assigned by the instructor. In addition, active learning will be encouraged by individual project and group projects (case study). (ILO:1-11)

  • Most of the application-based problems will be done in tutorial sessions. The problems will be firstly solved by professor, and after that students will be given opportunity to solve problems. (ILO:3-10)

Assessment Strategy:

  • Midterm exam and Final exam (ILO:1-11)

  • Individual studying and presentation (ILO:1-11)

  • Group project: Case study (ILO:1-11)

Practical Skills:

  • To explain economic concepts, problems, possible solutions and other relevant economic information to both “expert” and lay audiences

  • To recognize complex economic relationships

  • Find and effectively interpret macroeconomic data.

  • Ability to analyse macroeconomic data within classical and AD/AS model.

Teaching and Learning Strategy:

  • In-class exercises and demonstration of model applications with active student participation (PS: 1-4)

  • Individual assignments (PS:1-4)

  • Lectures (PS: 2-4)

  • Tutorials (PS: 3-4)

Assessment Strategy:

  • Written Exams (PS: 1-4)

  • Individual assignments with presentation (PS: 1-2)

  • Individual project (PS:2-4)

Transferable Skills:

  • Ability to effectively present own and others’ point of view

  • A problem-centered and problem-solving approach

  • Numeracy Skills

  • Communication Skills: Written and Oral

  • Research Skills

  • Data analyses skills

  • Ability to work independently

  • Ability to work in the group

  • Good time management

  • Meet deadlines

  • Organize/manage projects

Teaching and Learning Strategy:

  • Teaching will be predominantly lectures, with ample use of examples (TS: 2-11)

  • The tutorials and exercises will emphasize practical use of skills (TS: 1-6)

Assessment Strategy:

  • Project assignment (TS: 1-11)

  • Written examination (TS: 1-4, 6,9)

  • Presentation (TS: 1,4,9,10)

 

Key Texts and/or other learning materials

Set text

  • N. Gregory Mankiw and Mark P. Taylor (2017), Macroeconomics, 4th Edition, Cengage Learning

Supplementary Materials

  • Baumol, W., et al, (2015), Macroeconomics: Principles and Policy, 13th Edition, South-Western College Publishin5

  • Frank, R., Bernanke, B., (2015), Principles of Macroeconomics, 6th Edition, McGraw-Hill

  • Williamson, S., (2017), Macroeconomics, 6th Edition, Pearson

  • Gottfries, N., (2013), Macroeconomics, Palgrave Macmillan

  • Jones, C., (2017), Macroeconomics, 4th Edition, W.W. Norton & Co.

  • Miles, D., et al, (2013), Macroeconomics: Understanding the Global Economy, 3rd Edition, John Wiley & Sons

  • MIT, (2013), Macroeconomics lecture videos and slides [online], http://ocw.mit.edu/courses/economics/14-772-development-economics-macroeconomics-spring-2013/lecture-videos-and-slides/ (Accessed 10 April 2017).

  • University of Oxford (2009), Macroeconomics Podcasts [online], http://podcasts.ox.ac.uk/keywords/macroeconomics (Accessed 10 April 2017).

Please note

This specification provides a concise summary of the main features of the module and the learning outcomes that a typical student might reasonably be expected to achieve and demonstrate if he/she takes full advantage of the learning opportunities that are provided.

More detailed information on the learning outcomes, content and teaching, learning and assessment methods of each module and programme can be found in the departmental or programme handbook.

The accuracy of the information contained in this document is reviewed annually by the University of Buckingham and may be checked by the Quality Assurance Agency.

Date of Production : April 2017

Date approved by School Learning and Teaching Committee

Date approved by School Board of Study

Date approved by University Learning and Teaching Committee

Date of Annual Review

       
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