Introduction to Macroeconomics
| Code | School | Level | Credits | Semesters |
| ECON1002 | Economics | 1 | 20 | Spring UK |
- Code
- ECON1002
- School
- Economics
- Level
- 1
- Credits
- 20
- Semesters
- Spring UK
Summary
This is a single semester introductory course in macroeconomics. Macroeconomics is the study of the aggregate economy, focusing on the cyclical pattern of aggregate output and co-movement of real and monetary aggregates in general equilibrium. This course introduces a series of basic models used in modern macroeconomics, with a particular focus on dynamic general equilibrium modelling tools and techniques necessary to build theoretical models.
Target Students
Available for Year 1 Undergraduate students on Economics degree programmes, including Year 1 BSc Jt Hons Maths and Economics students. Not available for Exchange students. Cannot be taken with ECON1043 Foundation of Economics or ECON1023 Foundations of Macroeconomics: Growth, Cycles and Policy.
Classes
This module is delivered through a combination of lectures and tutorials.
Assessment
- 100% Exam 1 (2-hour): Exam
Assessed by end of spring semester
Educational Aims
There are three general aims for this module, and they are:To provide a sound basis in the fundamentals of macroeconomics and their application to both theoretical and real-world situations.To develop analytical skills using the major methods of mathematics and diagrams.To engender the ability to communicate and report findings, particularly via tutorial essays, presentations and exercises.The module aims to enable the participants to develop skills in reflection of understanding of material through tutorial questions.Learning Outcomes
On completing this module, the learning outcomes are such that students will be able to:
Knowledge and Understanding:
- Demonstrate a broad knowledge of core areas of economics
- Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
Intellectual Skills:
- Reason logically and work analytically
- Be able to frame analysis of problems, identifying which parameters should be taken as fixed and why they might change
Professional / Practical Skills:
- Discuss and analyse government policy
Transferable Skills:
- Apply mathematical, statistical and graphical techniques in an appropriate manner
Emphasised learning outcomes from the study of this module are:
- Demonstrate knowledge of macroeconomic principles
- Identify appropriate techniques to analyse macroeconomic equilibrium in the various markets
- Show an understanding of mathematical, diagrammatic and verbal forms of analysis
- Demonstrate clear and effective communication through essays and exercises.