Intermediate Macroeconomics

Module overview

This module will equip students with the central concepts of macroeconomics, building on the foundations laid in ECON1021 Principles of Macroeconomics. Students will gain a clear understanding of the equilibrium behaviour of economies at the macro level. That is national level, using aggregate output or GDP as an outcome of interest. The module will distinguish between long run and short run macroeconomic behaviour and it will introduce student to theories of economic growth as well as of short run fluctuations. Throughout the module a focus is placed on the role of economic policy for macroeconomic outcomes and on understanding the patterns behind economic booms and busts and the effects of different fiscal and monetary policies.

Aims and Objectives

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

the relationship between policy recommendations and the theoretical and empirical features that imply such recommendations;
the central theoretical and practical concepts of macroeconomics
application of core economic theory and economic reasoning to applied macroeconomic topics and the analysis of macroeconomic policy

Transferable and Generic Skills

Having successfully completed this module you will be able to:

identify, select and access a range of sources to develop and present economic arguments and evidence in form of a short essay
collaborate with others in a group project adressing a policy question and recognise problems of groupwork and possible remedies.
communicate logical arguments and quantitative reasoning in a brief policy statements

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

apply logical analysis to macroeconomic models to describe equilibrium behaviour
abstract the essential features of the macroeconomy to provide models for the assessment of policy and exogenous events;
recognise what should be taken as fixed for specifying and solving macroeconomic problems, and the implications of potential constraints for policy implementation.

Learning and Teaching

Teaching and learning methods

Lectures and problem classes

Study time
Type	Hours
Independent Study	122
Tutorial	8
Lecture	20
Total study time	150

Resources & Reading list

Textbooks

N.G. Mankiw (2019). Macroeconomics. Worth Publishers.

Assessment

Assessment strategy

Final exam at the end of the semester (80%), one problem set (10%) and online tests during the semester (10%), supported by continuous formative assessment through problem sets. This is the same for internal repeats. Referral and external repeat assessment are through 100% final exam.

Summative

This is how we’ll formally assess what you have learned in this module.

Breakdown
Method	Percentage contribution
Final Exam	80%
Online test	10%
Coursework assignment(s)	10%

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Breakdown
Method	Percentage contribution
Final Exam	100%

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Breakdown
Method	Percentage contribution
Final Exam	100%

Repeat Information

Repeat type: Internal & External