Programme/Approved Electives for 2024/25
None
Available as a Free Standing Elective
No
Macroeconomics is concerned with and seeks to explain the developments 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 and government policies in determining aggregate output, employment and the price level/inflation. To this end, we develop the key work-horse models of IS-LM and AD-AS and use them to analyse the effects of government policies, productivity, oil prices, and exogenous demand shocks.
Aims
This module aims to introduce the key domestic macro-economic objectives namely growth, inflation, unemployment and exchange rate stability via analysis and applications ¿ with an emphasis on assessing the UK economy within its international context.
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
Intended Learning Outcomes
Appreciate the role of macroeconomics in understanding current economic challenges: 1Apply macroeconomic analysis to real world situations and critique policy: 1Assess the role of institutions in setting fiscal and monetary policy: 1Evaluate the effectiveness of contemporary economic theories: 1Evaluate the UK macroeconomic performance in an international context: 1
18 hours lectures6 hours tutorials124 hours independent study2 hour multiple choice test
The module has no prerequisites. In particular, we do not assume any prior knowledge of economics or mathematics beyond GCSE grade C.
Description of Module Assessment
1: Multiple Choice Questions - Knowledge weighted 100%2 Hour Multiple Choice TestThe multiple-choice Exam consists of 40 multiple choice questions. The questions combine 'YES/NO' answers and 'choose one answer from the following four'. There is only one correct answer for each question. Students should answer all questions. All answers carry equal weight (2.5 percent) towards the final grade. All topics in the module are assessed in the Exam.