This module aims to develop and build mainly on knowledge acquired in the Economic Policy and Principles module at level 4 but also the economics quantitatively treated module of the same level. It provides fundamental knowledge on the key areas of macroeconomic theory and policy in the short-run and long-run and within both closed and open economy settings. Real world applications are signposted at the earliest opportunity.
On completion of the module you will be able to comprehend key macroeconomic theories and policies and illustrate the application of macroeconomic models and principles in the context of policymaking.
This module aims to:
On successful completion of the module, students will be able to:
The module will be delivered via a weekly workshop, which will be designed to first give an overview of the issues, and then these issues will be developed in more depth through practice exercises and discussion within the workshops.
Problem sets will be distributed for students to prepare for exercises to be undertaken in the workshops. These problem sets will provide students with the feedback and practice required to achieve the learning outcomes as well as preparing them for the final exam.
Definitive UNISTATS Category | Indicative Description | Hours |
---|---|---|
Scheduled learning and teaching | Workshop | 66 |
Guided independent study | Preparation of seminar portfolio | 122 |
Guided independent study | General independent study and exam revision | 112 |
Total (number of credits x 10) | 300 |
Assessment will be a 'seminar portfolio' comprising a short class essay and two seen tests based on previous problem sets tackled in seminars.
The essay provides an opportunity to improve and enhance writing skills: it may be submitted twice: the first submission will receive a mark and feedback; the second submission will receive additional marks according to value added.
The two tests will assess the ability of students to construct and apply macroeconomic models and provide them with an opportunity to receive feedback on their progress as well as hone their technique for the final exam.
The exam tests the overall ability of students to think about, analyse and present contemporary problems/issues in macroeconomics and indicate appropriate solutions.
Learning Outcome | Assessment Strategy |
---|---|
1) Demonstrate comprehension of the main workhorse models of macroeconomic theory: their strengths and weaknesses and policy relevance; | Problem sets (Formative/Summative), examination (S). |
2) Demonstrate some fluency in communicating the knowledge gained and applying it to some contemporary problems | Essay, problem sets (Formative/Summative), examination (Summative). |
3) Demonstrate an appreciation of the problems facing policymakers in using macroeconomic policy to achieve certain goals. | Essay, problem sets (Formative/Summative), examination (Summative). |
Description of Assessment | Definitive UNISTATS Categories | Percentage |
---|---|---|
Coursework | Coursework portfolio | 50 |
Written exam | Two hour unseen examination | 50 |
Total (to equal 100%) | 100% |
It IS NOT a requirement that any element of assessment is passed separately in order to achieve an overall pass for the module.
Mankiw, N. G. (2010). Macroeconomics, New York: Worth.
Kaufman, R. (2006). Student Guide and Workbook for use with Macroeconomics by Mankiw, New York: Worth.
Abel, A., B. Bernanke, and R. McNabb (2008). Macroeconomics, London: Pearson Addison-Wesley.