Core
5
6 ECTS
Spring
EC130 Introduction to Macroeconomics
EC 245
Tahir Mahmutefendic
2017
| Type | Number per Term | Duration | Total Time |
|---|---|---|---|
|
Lectures |
30 |
2 hours |
60 |
| Tutorials | 15 |
1 hours |
15 |
| Total Guided/Independent Learning Hours |
125 |
||
| Total Contact Hours | 75 | ||
| Total Engagement Hours | 200 | ||
| Type | Number Required | Duration / Length | Weighting | Timing / Submission Deadline |
|---|---|---|---|---|
|
Exam |
1 |
3 hours |
50% |
Week 17 |
|
Mid-semester test |
1 |
2 hours |
20% |
Week 9 |
|
Individual project (including presentation) |
1 |
2000 words 20 minutes presentation |
20% 10% |
Week 13 |
Intended Learning Outcomes:
Knowledge and critical understanding of the major macroeconomic issues and objectives of macroeconomic policies
Evaluate growth diagnostics, modelling and accounting
Demonstrate knowledge of government actions and their impact on the economy
Effectively communicate knowledge related to intermediate macroeconomics
Demonstrate understanding of the importance of the role of money and its implications to the real sector
Analyse concepts and exercise judgement on the importance of the exchange rate regime for macroeconomic policy
Ability to collect information from variety of sources to provide information related to solutions in unfamiliar context.
Ability to apply macroeconomic concepts and both short-and long-term economic models in a complimentary way, while understanding the difference between the behaviour of economic agents in both the short and long term.
Demonstrate understanding of the macroeconomics of the financial crisis (2007-8) and financial crises in general
Teaching and Learning Strategy:
Assessment Strategy:
Midterm exam and Final exam (ILO: 1-9)
Individual project (ILO:1-9)
Practical Skills:
To recognize complex economic relationships
Recognise and analyse macroeconomic data
Ability to analyse current macroeconomic trends/data within classical and AD/AS model
Interpret and apply the slow growth model in theoretical practice.
Teaching and Learning Strategy:
In-class exercises and demonstration of model applications with active student participation (PS: 3-4)
Individual assignments (PS: 1-4)
Lectures and tutorials (PS:1-4)
Assessment Strategy:
Written Exams (PS:1-4)
Individual project (PS:1-4)
Transferable Skills:
Ability to effectively present own and others’ point of view
Communication Skills: Written and Oral
A problem-centered and problem-solving approach
Numeracy skills
Problem-solving skills
Data analyses skills
Research Skills
Ability to work independently
Good time management
Meet deadlines
Organize/manage projects
Teaching and Learning Strategy:
Teaching will be predominantly lectures and tutorials, with ample use of topical examples and exercises. (TS:1-12)
Assessment Strategy:
Project assignment with presentation (TS:1-11)
Written examinations (TS:1, 3-5)
Set text
Mishkin, F., (2014), Macroeconomics: Policy and Practice, 2nd Edition, Prentice Hall
Supplementary Materials
Solow, Robert M. "A Contribution to the Theory of Economic Growth." The Quarterly Journal of Economics 70, no. 1 (1956): 65–94.
Mankiw, N. Gregory, David Romer, et al. "A Contribution to the Empirics of Economic Growth." The Quarterly Journal of Economic Growth 107, no. 2 (1992): 407–37.
Hall, Robert E. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence." (PDF - 1.6MB) Journal of Political Economy86, no. 6 (1978): 971.
Lucas Jr., Robert E. "Making a Miracle." Econometrica 61, no. 2 (1993): 251–72.
Barro, Robert J. "Are Government Bonds Net Wealth?" Journal of Political Economy 82, no. 6 (1974): 1095–117.
Diamond, Peter. "National Debt in a Neoclassical Growth Model." American Economic Review 55, no. 5 (1965): 1126–50.
Meltzer, Allan H., and Scott F. Richard. "A Rational Theory of the Size of Government." Journal of Political Economy 89, no. 5 (1981): 914–27.
Alesina, Alberto, and George-Marios Angeletos. "Fairness and Redistribution."The American Economic Review 95, no. 4 (2005): 960–80.
Barro, Robert J., and David B. Gordon. "Rules, Discretion and Reputation in a Model of Monetary Policy." Journal of Monetary Economics 12, no. 1 (1983): 101–21.
Calvo, Guillermo. "Servicing the Public Debt: The Role of Expectations." The American Economic Review 78, no. 4 (1988): 647–61.
Diamond, Douglas W., and Philip H. Dybvig. "Bank Runs, Deposit Insurance, and Liquidity." Journal of Political Economy 91, no. 3 (1983): 401–19.
Blanchard, O., (2017), Macroeconomics, 7th Edition, Pearson
Blanchard, O., et al., (2016) Progress and Confusion: The State of Macroeconomic Policy, MIT Press
Miles, D., et al, (2012), Macroeconomics; Understanding the Global Economy, 3rd Edition, John Wiley & Sons
Jones, C., (2017), Macroeconomics, 4th Edition, W.W. Norton & Co.
Williamson, S., (2017), Macroeconomics, 6th Edition, Pearson
Blanchard, O., et al, (2013), Macroeconomics: A European Perspective, 2nd Edition, Pearson
Carlin, W., Soskice, D., (2014), Macroeconomics: Institutions, Instability and the Financial System, Oxford University Press
Scarth, W., (2014), Macroeconomics: The Development of Modern Methods for Policy Analysis, Edward Elgar Publishing
The Economist, (2017), Macroeconomics Blog [online], http://www.economist.com/blogs/freeexchange/2015/11/macroeconomics (Accessed 14 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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