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ECO-20057 - Module Specification
Keele Business School
Faculty of Business, Law, Humanities & Social Sciences

For academic year: 2026/27 Last Updated: 17 March 2026

ECO-20057 - Intermediate Economic Principles
Coordinator: Dimitrios Syrrakos
Lecture Time: See Timetable...
Level: Level 5
Credits: 30
Study Hours: 300
School Office: 01782 733094

Programme/Approved Electives for 2026/27

None

Available as a Free Standing Elective

No

Co-requisites

None

Prerequisites

Introductory Microeconomic and Macroeconomic Principles (or equivalent modules for direct entry at Level 5)

Barred Combinations

N/A

Description for 2026/27

The module addresses global economic challenges such as international trade frictions, balance of payments disequilibria, fiscal and monetary policy under different exchange rate regimes growth, competitive and non-competitive markets, general equilibrium analysis and welfare implications etc by drawing on open economy models. It also allows you to evaluate the effectiveness of these models and encourages you to consider alternative techniques of approaching modern economic issues. In this way you will become aware of the importance of plurality when tackling complex economic issues.

Aims
Building on the foundations of Introductory Macroeconomic and Microeconomic Principles, the module delves on open economy economic principles. This facilitates the evaluation of intermediate economic models’ building blocks, their usefulness and their limitations. By breaking the barriers between the domestic and the international economy the module draws on the external influences on the UK economy. In addition, the module examines the way market participants organise production and consumption in an environment of finite resources.

Intended Learning Outcomes

employ intermediate macroeconomic modelling within real world economic challenges
: 1
assess the policy effectiveness of macroeconomic models under different environments
: 1
communicate potential solutions to complex economic issues to diverse audiences
: 1,2
examine the role of intermediate microeconomic models in delivering efficient economic outcomes
: 2
evaluate the effectiveness of microeconomic policies in real world contexts
: 2

Study hours

24 hours lectures
24 hours tutorials
126 hours essay preparation (60 hours on the evaluation of the model(s) to be employed and 66 hours application to a relevant economic challenge.
126 hours Report preparation (60 hours on the evaluation of the tools to be employed and 66 hours application to a relevant economic challenge.

School Rules

None

Description of Module Assessment

1: Essay weighted 50%
Essay
The essay question/title will allow students to demonstrate their understanding of intermediate macroeconomic models by applying them in a contemporary economic challenge (1500 words). The essay question/topic will draw from a range of topics covered in the module lectures and tutorials. These include: money supply and money demand, stabilisation policies, transmission mechanisms and adjustments to shocks. All students will have to answer/address the same essay question.

2: Report weighted 50%
2000 word report
Students will have to employ microeconomic tools/models covered in the module, to address complex real-world economic challenges facing UK institutions. The 2,000 words report would have to 'become available' to these private or public sector organisations for consultation before application.

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: 17 March 2026