INTERMEDIATE MACROECONOMICS 1 - 2019/0
Module code: ECO2052
The module builds on the New Keynesian framework to analyse the role of market imperfections in short- and medium-run marcoeconomics, and examines how macreconomic policy influences economic performance.
JOO Hyungseok (Economics)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 5
JACs code: L130
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
Indicative content includes:
- The demand side;
- The supply side;
- The 3-equation model and macroeconomic policy;
- Money, banking and the macro-economy;
- The financial sector and crises;
- The global financial crisis: applying the models.
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||CLASS TEST - 90 MINUTES - MULTIPLE CHOICE AND ESSAY QUESTIONS||30|
|Examination||EXAM - 2 HOURS - ESSAY/PROBLEM SOLVING QUESTIONS||70|
The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of the module's material, which includes a macroeconomic framework that integrates monetary policy and the banking/financial system.
Thus, the summative assessment for this module consists of:
- 30% class test – multiple choice and essay-based questions.
- 70% final exam – three compulsory essay/problem-solving questions.
The multiple choice tests and essay/problem-solving questions provide an effective way to examine students’ understanding of underlying concepts and theories as well as technical aspects of the material covered in the module as outlined in the learning outcomes and module content.
Formative assessment and feedback
Students have fortnightly feedback sessions. For these, students are being provided with a set of exercises relating to the lecture material which they solve independently or in teams. In the feedback sessions, they receive feedback on their answers and guidance on how these answers could be improved. In addition to this, students receive solutions online. Moreover, the marked coursework scripts provide students with individual feedback on their learning and identify potential weaknesses to enhance their performance. Finally, general feedback (verbal and online) is provided after the coursework
- Provide students with the basic tools of economic analysis necessary for the study of modern macroeconomic problems;
- Help students to understand macroeconomic policy issues that relate to market imperfections, and how institutional changes influence macroeconomic performance.
|1||Demonstrate a critical understanding of the relationships between the main macroeconomic variables||KCT|
|2||Identify the role of trade unions in macroeconomic policy||KC|
|3||Evaluate the impact of governmental policy and institutional change on a nation's macroeconomic performance||KCP|
|4||Be able to discuss issues related to the dynamics of government budget deficits and debt||KCT|
|5||Appreciate the role and implications of different exchange rate regimes in macroeconomic policy||KCT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 125
Lecture Hours: 20
Tutorial Hours: 5
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
- enhance written and verbal presentation skills as well as problem-solving and analytical skills
- appreciate the role of market imperfections and institutional structures on macroeconomic policy and performance
The learning and teaching methods include:
- 2-hour lecture per week (10 lectures)
- 1-hour feedback session every other week (5 feedback sessions)
Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.
Reading list for INTERMEDIATE MACROECONOMICS 1 : http://aspire.surrey.ac.uk/modules/eco2052
Programmes this module appears in
|Economics BSc (Hons)||1||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
|Business Economics BSc (Hons)||1||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
|Economics and Finance BSc (Hons)||1||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
|Politics and Economics BSc (Hons)||1||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
|Economics and Mathematics BSc (Hons)||1||Compulsory||A weighted aggregate mark of 40% is required to pass the module|
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2019/0 academic year.