MACROECONOMICS - 2023/4

Module Overview

This module provides an in-depth review of the building blocks of macroeconomic theories and introduces macroeconomic datasets at the graduate level. 

Module provider

Economics

Module Leader

VALAITIS Vytautas (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

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

Module Availability

Semester 1

Prerequisites / Co-requisites

None

Module content

Indicative content includes:

• Kaldor facts and Business Cycle Statistics


• Growth Models (Solow and Ramsey)


• Real Business Cycle Model


• Consumption


• Fiscal Policy

 

Assessment pattern

Alternative Assessment

The alternative assessment for the group project is an individual assignment. 

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate that they have achieved the module’s learning outcomes and, by association, developed their digital capabilities, global intelligence, resourcefulness, and employability.

Thus, the summative assessment for this module consists of:

• a class test, which is connected to learning outcomes 1 and 4


• a group project, which is connected to learning outcomes 2 and 3


• a final exam, which is connected to learning outcomes 1 and 4 

Formative assessment and feedback

Classes to provide verbal feedback on the exercises and individual feedback on performance in the in-semester test.

Module aims

• The aim of the module is to introduce students to the study of macroeconomic theory, macroeconomic policies and macroeconomic data at an advanced level

Learning outcomes

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

• prepare the students for the study of economics and econometrics at FHEQ Level 7 (first week)


• to ensure that students are familiar with modern methods in Macroeconomics, starting from a range of theoretical assumptions.

The lectures provide an understanding of a variety of important macroeconomic models. The tutorials give students experience in manipulating formulae and deriving results for the models discussed in the lectures and help prepare for the in-semester test.

The learning and teaching methods include:

• reading lecture slides


• reading the textbook


• reading assigned journal articles solving problems


• dedicated lectures in quantitative methods in week 1 responding to questions in class


• lectures


• tutorials

 

 

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

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: ECOM021

Other information

In line with the University'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

Developing students' ability to solve problems under time constraint (assessments 1 and 3)

Global and Cultural Capabilities 

Enhancing students' competencies through participation in inclusive groups where seamless communication is essential.

Resourcefulness and Resilience

Promoting resourcefulness as part of the group project 

Digital Capabilities

Amplifying student ability in working with macroeconomic data

 

Programmes this module appears in

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.