INTERMEDIATE MACROECONOMICS 1 - 2023/4
Module code: ECO2052
The module progresses naturally from the macroeconomic models already encountered in first year Principles of Macroeconomics (ECO1019) to build intra-temporal and inter-temporal macroeconomic models from microeconomic principles to explore various macro topics, such as credit market, social security, banking, inflation and economic growth, and examines how macroeconomic policy influences economic performance. It serves as a foundation for Intermediate Macroeconomics 2 (ECO2046).
WANG Zhe (Economics)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 5
JACs code: L130
Module cap (Maximum number of students): N/A
Overall student workload
Workshop Hours: 22
Independent Learning Hours: 90
Tutorial Hours: 5
Guided Learning: 33
Prerequisites / Co-requisites
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 type||Unit of assessment||Weighting|
|School-timetabled exam/test||MIDTERM TEST||20|
|Project (Group/Individual/Dissertation)||GROUP PROJECT||20|
If unable to submit an the group project during the term, an individual paper will be assigned.
The assessment strategy is designed to provide students with the opportunity to demonstrate that they have achieved the learning outcomes and develop their global intelligence, employability skills, sustainability thinking, resourcefulness and resilience.
Thus, the summative assessment for this module consists of:
20% midterm test – connected to learning outcome 1. Students are expected to solve macroeconomic questions within time constraint.
20% group project – connected to learning outcomes 2, 3 and 4. Students apply macroeconomic theories and models to analyze real-world macro issues in a collaborative manner, practicing team-working skills and critical thinking.
60% final exam – connected to learning outcomes 1, 2 and 4. It examines students’ understanding of underlying concepts and theories as well as technical aspects of the material.
Students receive verbal feedback during workshops and tutorials. The marked group project provides students with individual feedback on their learning and identify potential weaknesses to enhance their performance. Feedback forms include comments on student performance and advice on how to improve, where appropriate. The solutions and comments for the class test and final exam will be provided after the assessment.
- Provide students with knowledge of economic theories and models necessary for the study of modern macroeconomic problems.
- Help students to understand how macroeconomic policies influence economic performance.
- Build students' employability and professionalism by addressing real-world problem-based tasks.
|001||Develop the ability to solve macroeconomics problems within time constraints||KCP||RESOURCEFULNESS AND RESILIENCE|
|002||Apply macroeconomic theories and models to analyze real macroeconomic issues||KCP||SUSTAINABILITY; EMPLOYABILITY|
|003||Demonstrate effective work in an international team towards a shared goal||KCPT||EMPLOYABILITY; GLOBAL AND CULTURAL INTELLIGENCE; RESOURCEFULNESS AND RESILIENCE|
|004||Evidence a critical understanding of macroeconomic theories and models||KCT||EMPLOYABILITY; RESOURCEFULNESS AND RESILIENCE|
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 develop students’ problem-solving and analytical skills as well as written and oral presentation skills.
-The 2-hour weekly workshops focus on the learning outcomes of the week, introducing the basic concepts and definitions, unfolding theories and setting up models used by economists to comprehend the actual world. In addition, to enhance student learning outcomes, the workshops are also interspersed with exercises practice through a polling platform and discussions on various macroeconomic scenarios.
-There is a 1-hour tutorial every other week to support students with more practice, ensuring that the learning outcomes have been achieved.
-The weekly guided learning provides students with references and reading material to develop a good understanding of the relevant theories.
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.
Upon accessing the reading list, please search for the module using the module code: ECO2052
In line with Surrey’s Curriculum Framework, the School of Economics is committed to developing graduates with strengths in Employability, Digital Capabilities, Global and Cultural Capabilities, Sustainability and Resourcefulness and Resilience. This module is designed to allow students to develop knowledge, skills, and capabilities in the following areas:
Employability. The module enhances the skills of analyzing practical and policy issues related to the macroeconomy, preparing students for careers in government, banking and academia.
Global and Cultural Capabilities. By collaborating on a group project, students learn to effectively communicate and solve problems with group members from different cultural backgrounds.
Sustainability. Students will discuss and explore macroeconomic performance in the context of rising energy prices and technological innovation.
Resourcefulness and Resilience. The assessments are designed to develop students’ ability to collaboratively and professionally address real-world problem-based tasks.
Programmes this module appears in
|Politics and 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|
|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|
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 2023/4 academic year.