ECO-40008 - Module Specification
Keele Business School
Faculty of Humanities and Social Sciences

Programme/Approved Electives for 2024/25

Available as a Free Standing Elective

Co-requisites

None

Prerequisites

None

Barred Combinations

None

Description for 2024/25

The Module provides an excellent background into Macroeconomics - theories, evidence, and policy applications. You will learn about key macroeconomic challenges such as debt management and fiscal sustainability, monetary policy in a modern context and determinants of long-term economic growth. The focus is on the policy implications of macroeconomics. The macroeconomic implications of new challenges such as the role of energy sourcing in international pricing, AI, credit and financial engineering are also addressed.

The Module provides students with an excellent training in advanced Macroeconomics, building on their knowledge at the UG level. The Module addresses modern macroeconomic challenges by drawing on macroeconomic models and empirical evidence. These challenges include deficit and debt dynamics, debt management, adjustments to shocks, monetary transmission mechanisms, the effectiveness of fiscal and monetary policy, business cycles and long-term economic growth.

Intended Learning Outcomes

Assess key macroeconomic models and evaluate their effectiveness against recent empirical evidence.
: 1,2
Appreciate the implications of advanced macroeconomic models for macroeconomic policy-making in the modern economy.: 1,2
Explore the UK and the international institutional framework and the effects of monetary policy across major economies.

: 1,2
Evaluate the extent to which modern macroeconomic models address recent macroeconomic challenges
: 1,2
Reflect on the need of new macroeconomic tools to counter new challenges including supply-side shocks prompted by the role of AI, the acceleration of inflation, energy sourcing constraints, aging labour force in the Western economies etc.
: 1,2

Study hours

20 hours of lectures
4 hours of seminars
60 hours of independent study
30 hours of essay preparation
36 hours of final assessment preparation

School Rules

Available as an option if students have adequate macroeconomics knowledge at UG level (L5 or L6), to be assessed by the Module Leader in association with the Programme Director.

Description of Module Assessment