Keele Badge

ECO-10029 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

For academic year: 2021/22 Last Updated: 16 February 2022

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 2021/22

None

Available as a Free Standing Elective

Yes

Co-requisites

None

Prerequisites




Barred Combinations

None


Description for 2021/22

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: 1,2
assess the performance of the UK and other economies and of the global economy: 1,2
solve simple numerical models and relate the implications in a wider economic context: 1,2
apply a range of mathematical and analytical techniques to the framing and solution of models of the macroeconomy: 1,2
discuss, analyse and evaluate government policy with respect to the management and control of the macroeconomy: 1

Study hours

18 hours lectures
6 hours tutorials
12 hours discussion seminars
1 hour online task completion
30 hours class preparation
81 hours private study
2 hour exam

School Rules

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: Open Book Examination weighted 70%
2 Hour End of Semester Online Examination
Written 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 Questions
One 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.

Please note that for the 2021/22 Academic Year all programmes will be adapted to operate in accordance with a flexible, digital approach. This means that there will be some changes made to how modules are delivered and assessed. The latest information will be provided to you by your School in module handbooks. We endeavour to give you as much notice as possible of any changes and 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/student-terms-and-conditions/

Last Updated: 16 February 2022