Module code: ECO2052

Module Overview

The module builds on the micro-foundation for macroeconomics to analyze the role of market imperfections on macroeconomics, and examines how macroeconomic policy influences economic performance.

Module provider


Module Leader

JOO Hyungseok (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 5

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

Overall student workload

Independent Learning Hours: 125

Lecture Hours: 20

Tutorial Hours: 5

Module Availability

Semester 1

Prerequisites / Co-requisites


Module content

Indicative content includes:

  • Micro-foundations for Macroeconomics;

  • Inter-temporal optimization model;

  • Consumption, investment, government deficit, and credit market;

  • Money, banking, and inflation;

  • Financial and global crises: applying the models;

Assessment pattern

Assessment type Unit of assessment Weighting

Alternative Assessment

Not applicable

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 banking/financial system.

Thus, the summative assessment for this module consists of:

  • 30% class test – multiple choice and essay-based questions.

  • 70% final exam – multiple choice and 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

Module aims

  • 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.

Learning outcomes

Attributes Developed
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

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

  • 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
Upon accessing the reading list, please search for the module using the module code: ECO2052

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Politics and Economics BSc (Hons) 1 Compulsory A weighted aggregate mark of 40% is required to pass the module
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
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

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 2020/1 academic year.