Introduction to Macroeconomics
| Code | School | Level | Credits | Semesters |
| ECON1027 | Economics | 1 | 20 | Spring Malaysia |
- Code
- ECON1027
- School
- Economics
- Level
- 1
- Credits
- 20
- Semesters
- Spring Malaysia
Summary
The module provides an introduction to modern macroeconomic analysis. Macroeconomic is concerned with some of the most pressing and fundamental questions economics ask, such as: what determines economic growth? Why do economics exhibit expansions ('booms') and contractions ('busts') in output? What drives employment and wages, saving and investment? What causes inflation and why is it a problem? What, if anything, can government do to improve the performance of an economy?
Microeconomics is concerned with the analysis of economic agents and markets at the individual level. Macroeconomics is concerned with the aggregate implications of microeconomic behaviour at the economy-wide level. There is a clear connection between each level. That is the starting point for modern macroeconomic analysis. For example, the prior studying of macroeconomics at A-level is not based on this modern understanding of macroeconomics built on 'microfoundations'. Consequently prior study of economics is not necessary for taking this module and students who have studied macroeconomics previously may have to re-think how they understand the aggregate economy.
Target Students
We can accept other school students but not available to NUBs students. Available to JYA/Erasmus students.
Classes
- One 1-hour tutorial each week for 7 weeks
- One 1-hour lecture each week for 10 weeks
- One 2-hour lecture each week for 10 weeks
Assessment
- 25% Group Essay and Presentation
- 75% Exam 1 (1-hour-30-minute): 1.5 hours final examination
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.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
- Apply core economic theory and economic reasoning to applied topics.
- Show understanding of analytical methods, both theory- and model-based.
- Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
- Discuss and analyse government policy
Intellectual Skills: - Work with abstract concepts and in a context of generality
- Reason logically and work analytically
- Understand the context in which a problem is to be addressed
Professional / Practical Skills: - Select and apply appropriate techniques to solve problems
- Justify conclusions using economic arguments with appropriate rigour. Transferable Skills:
- Apply mathematical, statistical and graphical techniques in an appropriate manner
- Communicate effectively and clearly in written and oral formats
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.
Conveners
- Dr Luke Okafor