ECM193-Macroeconomics II

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Terms in which taught: Spring term module
Non-modular pre-requisites:
Modules excluded:
Module version for: 2017/8

Module Convenor: Dr Fang Xu


Summary module description:
This module is intended to form a more advanced understanding of the theories necessary to understand macroeconomic policy. It assumes students are familiar with the core concepts of output, inflation and unemployment – and how they are interrelated at the national level. This module aims at understanding economic policies at the international level and issues impacting long-run growth.

The primary focus of this module is twofold: (1) understanding how fiscal and monetary policy at international level influences inflation and output, and (2) understanding determinants of long-run economic growth. This includes having a detailed understanding of the exchange rate, the balance of payment accounts, an open economy IS-LM model, and long-run economic growth models, and applying these concepts to real world phenomenon.

Assessable learning outcomes:
Students should be able to relate how monetary and fiscal policy at the international level impact output, inflation and growth. Finally, students should be able to discuss real world macroeconomic phenomenon in the context of any theories discussed.

Additional outcomes:
Students will be required to complete coursework such as problem sets, tests, essays, presentations, etc. In the process of completing these types of assignments, they must learn skills required to do relevant research, write reports, understand technical articles, and apply theoretical knowledge to real world situations.

Outline content:
Basic topics include: the exchange rate, the balance of payment account, understanding what constitutes monetary and fiscal policy at the international level, understanding the connections between macroeconomic variables and policies, and the long-run economic growth.

Brief description of teaching and learning methods:
Detailed guidance on the topics covered will be provided in the 5 x 2 hours weekly lectures, together with comprehensive handouts covering the material discussed, examples, exercises and solutions to facilitate understanding of key concepts (the later reviewed over the course of the term in one tutorial). Students may be required to do exercises corresponding to each topic, to read a significant amount of journal articles, and to undertake research using the library, internet, etc.

Contact hours:
  Autumn Spring Summer
Lectures 10
Tutorials 1
Guided independent study 79 10
Total hours by term 90.00 10.00
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Written exam 60
Class test administered by School 40

Other information on summative assessment:
Coursework (one class test) will count for 40% of the overall mark

Formative assessment methods:

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information:

Length of examination:
One 1-hour unseen written paper, intended to be comprehensive of everything covered in the module.
Postgraduate examinations are held in the Summer term.

Requirements for a pass:
A minimum weighted average mark of coursework and examination of 50%.

Reassessment arrangements:
Re-examination for all modules takes place in August/September of the same year.
Re-assessment is by examination only; coursework is not included at the second attempt.

Additional Costs (specified where applicable):
1) Required text books: Recommended but not required: Macroeconomics by N. Gregory Mankiw, Worth Publishers. Retail price is £50.
2) Specialist equipment or materials:
3) Specialist clothing, footwear or headgear:
4) Printing and binding:
5) Computers and devices with a particular specification:
6) Travel, accommodation and subsistence:

Last updated: 14 September 2017

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