INTERMEDIATE MACROECONOMICS 1 - 2017/8
Module code: ECO2052
ARSENIS P Dr (Economics)
Number of Credits
FHEQ Level 5
Module cap (Maximum number of students)
Overall student workload
Independent Study Hours: 123
Lecture Hours: 20
Tutorial Hours: 5
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||CLASS TEST - 90 MINUTES - MULTIPLE CHOICE AND ESSAY QUESTIONS||30%|
|Examination||EXAM - 2 HOURS - ESSAY/PROBLEM SOLVING QUESTIONS||70%|
Prerequisites / Co-requisites
The module builds on the New Keynesian framework to analyse the role of market imperfections in short- and medium-run marcoeconomics, and examines how macreconomic policy influences economic performance.
Provide students with the basic tools of economic analysis necessary for the study of modern macroeconomic problems;
Help students to understand macroeconomic policy issues that relate to market imperfections, and how institutional changes influence macroeconomic performance.
|Demonstrate a critical understanding of the relationships between the main macroeconomic variables||KCT|
|Identify the role of trade unions in macroeconomic policy||KC|
|Evaluate the impact of governmental policy and institutional change on a nation's macroeconomic performance||KCP|
|Be able to discuss issues related to the dynamics of government budget deficits and debt||KCT|
|Appreciate the role and implications of different exchange rate regimes in macroeconomic policy||KCT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Indicative content includes:
The demand side;
The supply side;
The 3-equation model and macroeconomic policy;
Money, banking and the macro-economy;
The financial sector and crises;
The global financial crisis: applying the models.
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
enhance written and verbal presentation skills as well as problem-solving and analytical skills
appreciate the role of market imperfections and institutional structures on macroeconomic policy and performance
The learning and teaching methods include:
2 hour lecture per week x 11 weeks
1 hour feedback session per week x 5 weeks
The assessment strategy is designed to provide students with the opportunity to demonstrate:
Awareness of the links between main macroeconomic variables in a New Keynesian framework, critical understanding of policies aiming to attain fiscal and monetary objectives, ability to evaluate such policies and recognise the issues that may arise in policy implementation.
Thus, the summative assessment for this module consists of:
30% Class test – multiple choice and one essay questions.
70% Final Exam - two essay/problem-solving questions out of a choice of four.
The multiple choice tests and essay/problem-solving questions provide an effective way to examine students’ understanding of underlying concepts and theories as well as technical aspects of the material covered in the module as outlined in the learning outcomes and module content.
Formative assessment and feedback
Students have fortnightly feedback sessions. For these, students are being provided with a set of exercises relating to the lecture material which they solve independently or in teams. In the feedback sessions, they receive feedback on their answers and guidance on how these answers could be improved. In addition to this, students receive solutions online. Moreover, the marked coursework scripts provide students with individual feedback on their learning and identify potential weaknesses to enhance their performance. Finally, general feedback (verbal and online) is provided after the coursework
Reading list for INTERMEDIATE MACROECONOMICS 1 : http://aspire.surrey.ac.uk/modules/eco2052
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2017/8 academic year.