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2010/1 Module Catalogue
 Module Code: ECO2035 Module Title: INTERMEDIATE MACROECONOMICS: THEORY AND APPLICATIONS
Module Provider: Economics Short Name: ECO2035
Level: HE2 Module Co-ordinator: NEWMAN ME Mrs (Economics)
Number of credits: 30 Number of ECTS credits: 15
 
Module Availability
All Year
Assessment Pattern
Unit(s) of Assessment

Weighting Towards Module Mark (%)
3 Hour Examination

70
Coursework

30

Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module.
Module Overview
Macroeconomic policy and performance are fundamental to our daily lives.  This makes it important that students are aware of the kinds of macroeconomic policy being pursed (in the UK, Europe and elsewhere) and that they are able to identify and evaluate some of the effects of these policies. This module covers a number of topical macroeoconomic policy areas.
Prerequisites/Co-requisites
None
Module Aims
The aim of this module is to provide students with the basic tools of economic analysis necessary for the study of macroeconomic problems. The module demonstrates how economic analysis can be used to analyse macroeconomic performance. Particular reference is made to the relative importance of market and government behaviour, and to policy and institutional changes that might improve macroeconomic performance.
Learning Outcomes

By the end of this module students will:

  •  Appreciate how different schools of thought approach analysis of macroeconomic problems
  • Be aware of the areas of agreement and remaining controversy among different schools of thought
  • Understand why some countries experience higher inflation rates than others
  • Be able to argue how a nation’s macroeconomic performance might be improved by government policy and institutional change
  • Be able to discuss issues related to the dynamics of government budget deficits and debt
  • Appreciate the implications of different exchange rate regimes
Module Content

The following is an indication of the likely topics to be covered:

  • An economy’s long-run performance: productivity, output and employment; consumption, saving and investment in closed and open economies; economic growth 
  • Fluctuations in economic activity: business cycles; the IS-LM/AD-AS model for closed and open economies; market clearing and Keynesian models
  • Aggregate Demand and Aggregate Supply
  • Inflation and Unemployment
  • Labour Markets
  • Monetary Policy and Central Banks
  • Fiscal Policy and Government Debt
  • Open Economy in the Short Run
  • Inflation and Unemployment in the Open Economy
  • Policy Making in Open Economy  
Methods of Teaching/Learning
Lectures (20): Two hours weekly
General and small group discussions
Question and answer interactive format
Directed self-study

Tutorials (10): one-hour fortnightly
Problem-based learning
Interactive sessions
Encouraged peer support
Directed self-study
Selected Texts/Journals

Compulsory Reading:

Gartner. M. (2009) Macroeconomics, 3rd ed., Prentice Hall. 
Carlin W. and Soskice D. (2006) Macroeconomics Imperfections, Institutions and Policies, Oxford University Press.

Recommended Reading:
Blanchard O. (2009) Macroeconomics, 5th ed., Pearsons. 
Burda M. and Wyplosz C. (2009) Macroeconomics: A European Text, 5th ed., Oxford University Press.
Last Updated
28 September 2010