ECO-10029 - Introductory Macroeconomics
Coordinator: Chaowei Wang Tel: +44 1782 7 34298
Lecture Time: See Timetable...
Level: Level 4
Credits: 15
Study Hours: 150
School Office: 01782 733094

Programme/Approved Electives for 2020/21

None

Available as a Free Standing Elective

Yes

Co-requisites

None

Prerequisites

The module has no prerequisites. In particular, we do not assume any prior knowledge of economics or mathematics beyond GCSE grade C.


Barred Combinations

None


Description for 2020/21

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
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.

Talis Aspire Reading List
Any reading lists will be provided by the start of the course.
http://lists.lib.keele.ac.uk/modules/eco-10029/lists

Intended Learning Outcomes

explain the notion of macroeconomic equilibrium and its key determinants; will be achieved by assessments: 01, 02
discuss, analyse and evaluate government policy with respect to the management and control of the macroeconomy; will be achieved by assessments: 01, 02
assess the performance of the UK and other economies and of the global economy; will be achieved by assessments: 01, 02
solve simple numerical models and relate the implications in a wider economic context; will be achieved by assessments: 01, 02
apply a range of mathematical and analytical techniques to the framing and solution of models of the macroeconomy. will be achieved by assessments: 01, 02

Study hours

24 hours lectures
10 hours tutorials
4 hours online task completion
30 hours class preparation
82 hours private study


School Rules

None

Description of Module Assessment

1: Unseen Exam weighted 60%
2 hour end of semester examination
Written examination comprised of 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 40%
FOUR Online multiple choice-type exercises, the best THREE to be counted
FOUR Multiple choice-type tests, of which the best THREE will be counted - their average will contribute to the Module mark by a weight of 40%. The tests are 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.