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ECO-10037 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

For academic year: 2025/26 Last Updated: 04 December 2025

ECO-10037 - Introductory Macroeconomic and Microeconomic Principles
Coordinator: Dimitrios Syrrakos
Lecture Time: See Timetable...
Level: Level 4
Credits: 30
Study Hours: 300
School Office: 01782 733094

Programme/Approved Electives for 2025/26

None

Available as a Free Standing Elective

No

Co-requisites

None

Prerequisites

None

Barred Combinations

None

Description for 2025/26

The module addresses current economic challenges such as growth, inflation, production, consumption and policies to enhance productivity in relevant real word contexts. It does so both from an individual and an aggregate perspective. It blends economic theory with policies, and it facilitates understanding of the economic and wider constraints facing economic policy makers. Emphasis is placed on the way institutions rely and draw on economic principles to remedy international problems.

Aims
This module aims to introduce the key microeconomic and macroeconomic objectives. The macroeconomic objectives include growth, inflation, unemployment and exchange rate stability with an emphasis on assessing the UK economy within an international context. Within microeconomics the topics of production, consumption, and government interventions are evaluated by focusing on the links between economic concepts and their applications to real case examples. The module develops the macroeconomic and microeconomic foundations that underpin Intermediate Economic Principles and Advanced Economic Principles at levels 5 and 6 respectively.

Intended Learning Outcomes

determine the role of microeconomics in current economic challenges.
: 1
explain the theoretical basis of microeconomic decision-making.
: 1
apply economic principles to real world situations and economic policies.
: 1,2
explain the role of institutions in setting fiscal and monetary policy
: 2
interpret the UK’s macroeconomic performance in an international context
: 2

Study hours

40 hours lectures
8 hours tutorials
48 hours preparation of tutorial activities
100 hours assignment preparation
100 hours flexible class test preparation
2 hours final assignment review & submission
2 hours multiple choice test completion
There is no expectation that students should prepare anything prior to lectures but it would be beneficial for their learning if they could engage with the literature.

School Rules

None

Description of Module Assessment

1: Assignment weighted 50%
The assignment will require students answering questions
Students will complete a 1,500-word assignment that requires them to answer five questions based on a recent piece of real-world news. The news item will be drawn from reliable sources such as newspapers, TV channel websites, or other reputable online platforms, ensuring the assignment reflects current and relevant economic challenges. In addressing the questions, students will be expected to determine the role of microeconomics in the identified issue, explain the theoretical basis of the microeconomic decision-making processes involved, and apply economic principles to real-world situations and policies. This task will encourage students to connect theoretical frameworks with practical applications, demonstrating their ability to critically analyse contemporary economic problems through a microeconomic lens. The assignment is designed to enhance students’ understanding of how microeconomics informs policy decisions and its significance in addressing pressing economic challenges, providing them with valuable insights into the intersection of theory and practice in the modern economy.

2: Open Book Assessment weighted 50%
Multiple Choice
The assessment is a 120-minute multiple-choice test designed to evaluate students' ability to apply core economic principles to real-world situations and economic policies. It assesses their foundational understanding of the role of institutions in setting fiscal and monetary policy and their ability to interpret the UK’s macroeconomic performance within an international context. The test will be available online for a 7-day window, providing flexibility for students to select a suitable time to complete it. Once accessed, students will have a strict 120-minute time limit to ensure a consistent and fair evaluation of their knowledge and analytical skills.

The University undertakes a continuous review of its teaching and research provision to ensure programmes are of a high quality and changes may be made to modules where it is necessary and reasonable to do so. Please be aware that minor changes to modules, such as a change to an individual assessment, can occur up until enrolment, although we endeavour to give you as much notice as possible of any changes. Details about the circumstance in which changes are made to programmes can be found in the Student Agreement, available at: https://www.keele.ac.uk/legalgovernancecompliance/governance/actcharterstatutesordinancesandregulations/studenttermsconditions/

Last Updated: 04 December 2025