Module code: ECOM057

Module Overview

The module introduces the main concepts of macroeconomic analysis, building models which allow examination of how macroeconomic policy influences economic performance.

Module provider


Module Leader

JOO Hyungseok (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

Module cap (Maximum number of students): N/A

Overall student workload

Independent Learning Hours: 121

Lecture Hours: 20

Tutorial Hours: 9

Module Availability

Semester 1

Prerequisites / Co-requisites


Module content

Indicative content includes:

  • The demand side;

  • The supply side;

  • The impact of macroeconomic policies;

  • The role of expectations;

  • Money, banking and the macroeconomy;

  • The financial sector and crises;

Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test Class test (60 min) 30
Examination Examination (2 hours) 70

Alternative Assessment


Assessment Strategy

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 financial system.

Thus, the summative assessment for this module consists of:

  • 1-hour class test – multiple choice and essay-based questions.

  • 2-hour final examination – 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 weekly 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.

Module aims

  • The module aims to provide students with the basic tools of economic analysis necessary for the study of modern macroeconomic problems.

Learning outcomes

Attributes Developed
002 Evaluate the impact of governmental policy (focus on fiscal and monetary policy) on a nation's macroeconomic performance KCP
003 Be able to discuss issues related to the dynamics of government budget deficits and debt KCT
004 Critically evaluate the appropriateness of macroeconomic models for explaining observed macroeconomic phenomena KCPT
001 Demonstrate a critical understanding of the relationships between the main aggregate markets in the economy (e.g., labour, credit, money) and how their interaction determines the dynamics of the economy KCT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

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

  • enhance skills in discussing and reasoning about macroeconomic problems by using a conceptually rigorous analytical framework

  • appreciate the role of market imperfections on macroeconomic policy and performance

The learning and teaching methods include:

  • 2 hour lecture per week x 11 weeks

  • 1 hour feedback session per week x 10 weeks

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
Upon accessing the reading list, please search for the module using the module code: ECOM057

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Economics MA 1 Compulsory A weighted aggregate mark of 50% 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.