Principles of Economics (Macroeconomics)
| Module title | Principles of Economics (Macroeconomics) |
|---|---|
| Module code | INT1014 |
| Academic year | 2025/6 |
| Credits | 15 |
| Module staff | Clive William Duncan (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 12 | 12 |
| Number students taking module (anticipated) | 210 |
|---|
Module description
Economics offers powerful insights into the world in which we live. This introductory economics course aims to provide an essential, simple, useable body of economic theory which will provide the basis for further study and equip students with a real understanding of the role of economics in business, public and private decision making. Students will be taught how to apply the theory to analysis of the real world.
This module taken with INT1013 Microeconomics is the equivalent of BEE 1029.
No prior knowledge of economics is needed for this module
Module aims - intentions of the module
The aim of this module is to provide an essential, simple, useable body of economic theory, which will both provide the basis for further study and equip students with a real understanding of the role of economics in business, public and private decision making. The students will go on to apply the theory to analysis of the real world.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Apply the economic way of thinking to enable them to understand macroeconomic problems
- 2. Discuss and articulate reasoned views on some of the most pressing policy problems facing our societies: inequality, financial instability, the future of work, environmental degradation, wealth creation, and innovation.
- 3. Demonstrate understanding of the role played by labour and capital markets
- 4. Demonstrate understanding of macroeconomic issues that modern governments give priority.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 5. Analyse and resolve macroeconomic problems
- 6. Identify, present and explain standard theoretical economic models and apply them to analyse economic questions and policy issues.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 7. Judge and assess policy issues related to market economies
- 8. Develop the capacity for analytical thought and reasoned discussion.
Syllabus plan
Core’s The Economy 2.0 Macroeconomics (Units 1-5)
- The Supply-side of the Macroeconomy
- Unemployment, wages and Inequality
- Aggregate Demand and the Multiplier Model
- Inflation and Unemployment
- Macroeconomic Policy
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 40 | 110 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Lectures | 10 | On campus Lectures, Workshop Activities and Case study. |
| Seminars | 30 | Seminar these will be teacher led. You should prepare for each seminar based on the related lecture. Working on case studies, worksheets, problem solving activities |
| MCQ (Formative & Summative) Tests | 6 | Assessed weekly 30-minute tests |
| Guided Independent study | 104 | Reading and research; group work and research; practice of techniques; web-based activities. |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Class tests, case studies, and weekly online coursework practice | 1-2 hours | 1-8 | Written and verbal |
| Mock Examination | 2 hours | 1-8 | Written and suggested solutions given |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 40 | 60 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Written Examination | 60 | 2 hours | 1-8 | Performance Outcome |
| Timed Quizzes (Coursework) | 40 | Four online quizzes | 1-8 | Written and Verbal |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Written exam | Written exam , 2 hours (referral) | 1-8 | Next assessment opportunity |
| Written exam | Written exam (deferral) | 1-8 | Next assessment opportunity |
| Timed Quizzes | Four online quizzes (1hr each) at 10% per quiz (Deferral) | 1-8 | Next assessment opportunity |
Re-assessment notes
Deferral – if you miss an assessment for reasons judged legitimate by the Mitigation Committee, the applicable assessment will normally be deferred. See ‘Details of reassessment’ for the form that assessment usually takes. When deferral occurs, there is ordinarily no change to the overall weighting of that assessment.
Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be required to take a referral exam. Only your performance in this exam will count towards your final module grade. A grade of 40% will be awarded if the examination is passed.
Indicative learning resources - Basic reading
- CORE’s The Economy 2.0 Macroeconomics, available (for free) at: https://www.core-econ.org/
Indicative learning resources - Web based and electronic resources
Students will have access to an ELE page which will provide extensive material to support the lecture programme.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | none |
| Module co-requisites | none |
| NQF level (module) | 4 |
| Available as distance learning? | No |
| Origin date | 16/05/2018 |
| Last revision date | 06/06/2025 |
