SSST Subjects

EC 245 Intermediate Macroeconomics


Programme(s) where module is offered

  • BSc in Economics with International Business
  • BSc in Economics with Finance

Status (core, option, free choice)



FHEQ Level



Unit Value



Semester taught



Pre-Requisite Modules or Qualifications

EC130 Introduction to Macroeconomics


Module Code

EC 245


Module coordinator

Tahir Mahmutefendic


Applicable From



Educational Aims of the Module

  • The aims of this module are to:
  • provide a sound understanding of macroeconomics for students who study Economics with International Business and Economics with Finance ;
  • to provide students with detailed knowledge and 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.

Module Outline/Syllabus

  • Macroeconomics and economic analysis
  • National Income Accounting
  • Economic Growth: Theory, Accounting and Modelling
  • Slow Growth Model: Implications of Determinants’ Changes and Convergence
  • Long-run Economic Growth and Convergence:
  • Markets in Macroeconomics and Budget Constraint: Goods, Labour, Rental and Bond Market
  • Market Clearing
  • Consumption, Saving and Investment
  • Equilibrium Business-Cycle Model
  • Labour and Capital
  • Money Demand and Price Levels
  • Inflation, Money Growth and Interest Rates
  • Government in an Economy: Expenditures, Taxes and Public Debt
  • Money and Business Cycles
  • Balance of Payments
  • Exchange Rates
  • Macroeconomics of the financial crisis (2007-08)

Student Engagement Hours

Type Number per Term Duration Total Time



2 hours


Tutorials 15

1 hours


Total Guided/Independent Learning Hours


Total Contact Hours 75
Total Engagement Hours 200

Assessment Method Summary

Type Number Required Duration / Length Weighting Timing / Submission Deadline



3 hours


Week 17

Mid-semester test


2 hours


Week 9

Individual project (including presentation)


2000 words

20 minutes presentation



Week 13


Module Outcomes

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:

  • This is an intermediate course and will presume knowledge of basic macroeconomic principles. It will use a text book but also additional articles assigned by the instructor. (ILO: 1-8)
  • Teaching will be predominantly lectures, with ample time for discussion. The tutorials will be more interactive. Most of the application-based problems will be done in tutorial sessions. (ILO:1-8)

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)


Key Texts and/or other learning materials

Set text

  • Mishkin, F., (2014), Macroeconomics: Policy and Practice, 2nd Edition, Prentice Hall

Supplementary Materials

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


Posjeti nas

Hrasnička cesta 3a, Sarajevo, 71 000

Bosna i Hercegovina

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