Principles of Economics (Macroeconomics)
| Module title | Principles of Economics (Macroeconomics) |
|---|---|
| Module code | INT1014 |
| Academic year | 2023/4 |
| Credits | 15 |
| Module staff | Clive William Duncan (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 12 |
| Number students taking module (anticipated) | 251 |
|---|
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. Develop an understanding relating to the links between government policies and Macroeconomics, and how these political approaches impact upon the Macroeconomy, with specific focus upon Keynesian approach and Neo-classical approaches
- 3. Demonstrate understanding of the role played by labour and capital markets
- 4. Construct macroeconomic models and make use of them in analysis of current issues
- 5. Demonstrate understanding of macroeconomic issues that are given priority by modern governments
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 6. Analyse and resolve macroeconomic problems
- 7. Identify the types of issues that economics can help address
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 8. Judge and assess policy issues related to market economies
Syllabus plan
- The National Economy
- Macroeconomic Issues and Analysis
- Roots of Modern Macroeconomics
- Short-run Macroeconomic Equilibrium
- Money & Interest Rates
- Relationship between Money and Goods Markets
- Fiscal & Monetary Policy
- Supply-side Policies
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 60 | 90 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled learning and teaching activities (synchronous) | 20 | Lecture and workshops |
| Scheduled learning and teaching activities (synchronous) | 40 | 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 |
| Guided Independent study | 90 | 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; practice questions | 1-2 hours | 1-8 | Written and verbal |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 40 | 60 |
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 |
| Group presentation | 40 | 5 minutes per student | 1-8 | Verbal and Written |
| 0 | ||||
| 0 | ||||
| 0 | ||||
| 0 |
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 examination | Written examination, 2 hours | 1-8 | During next examination period |
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 re-sit 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
Sloman, J. Garratt, D and Guest, J: Economics (10th Ed.) updated for 2020/21: Pearson Education.
Indicative learning resources - Web based and electronic resources
Web based and electronic resources: ELE – Course: (INT1014) Principles of Economics (Macroeconomics) (exeter.ac.uk)
Indicative learning resources - Other resources
Dombusch, R. Fischer, S. and Startz, R: Economics (13th Ed.) 2017: McGraw-Hill.
| 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 | 13/06/2023 |
