Programme/Approved Electives for 2020/21
Available as a Free Standing Elective
Macroeconomics is concerned with, and seeks to explain, the large-scale movements that we observe in the economy as a whole and the regularities of aggregate behaviour. This module will introduce students to the key concepts of national income accounting and measures of economic activity that macroeconomists utilise when discussing these developments. The module will subsequently examine the role of the real and financial sectors in determining aggregate output, employment and inflation. Much of the content of modern macroeconomics dates from the experience gained from two particularly important historical episodes: the high levels of unemployment of the 1930s and the stagflation of the 1970s. The understanding gained from these episodes remains important today. Governments around the world struggle with the problem of balancing the needs of the economy in the short term (by attempting to control movements in unemployment and inflation), with the need to maintain long-term growth in the economy. The nature of government commitments to each of these policy areas will be described in the historical context and the notion of trade-off in the policy agenda will be discussed.
Talis Aspire Reading ListAny reading lists will be provided by the start of the course.http://lists.lib.keele.ac.uk/modules/eco-10029/lists
The aim of this module is to familiarise students with the study of macroeconomics at an introductory level. The module is concerned with and seeks to explain the large-scale movements that we observe in the economy as a whole and the regularities of aggregate behaviour. The module will introduce students to the key concepts of national income accounting and measures of economic activity and will subsequently examine the role of the real and financial sectors in determining aggregate output, employment and inflation.
Intended Learning Outcomes
explain the notion of macroeconomic equilibrium and its key determinants: 1,2assess the performance of the UK and other economies and of the global economy: 1,2solve simple numerical models and relate the implications in a wider economic context: 1,2apply a range of mathematical and analytical techniques to the framing and solution of models of the macroeconomy: 1,2discuss, analyse and evaluate government policy with respect to the management and control of the macroeconomy: 1
18 hours lectures6 hours tutorials12 hours discussion seminars1 hour online task completion30 hours class preparation81 hours private study2 hour exam
The module has no prerequisites. In particular, we do not assume any prior knowledge of economics or mathematics beyond GCSE grade C.
1: Open Book Examination weighted 70%
Description of Module Assessment
2 Hour End of Semester Online ExaminationWritten examination comprised of two compulsory short-answer questions and two essay questions (from a choice of four). The short-answer questions are designed to test students' knowledge of key concepts, and proficiency in relevant analytical methods. The essays will allow a more in-depth discussion of specific issues, which will test students' ability to apply, synthesize, and evaluate macroeconomic theory.2: Online Tasks weighted 30%
One Online Mid-term Test with Multiple Choice-type QuestionsOne multiple choice-type mid-term test. The test is designed to formatively assess students' understanding of the material as the module progresses, and hence provide an opportunity for feedback and improvement. The questions test students' conceptual understanding, ability to apply theory to real-world situations, ability to perform simple calculations, and understanding of relevant graphs and diagrams.