EC202-Intermediate Macroeconomics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Autumn term module
Pre-requisites: EC113 Introductory Microeconomics and EC114 Introductory Macroeconomics and EC116 Introductory Mathematics for Economics 1 or EC113 Introductory Microeconomics and IC104 Introductory Quantitative Techniques for Business and Finance
Non-modular pre-requisites:
Modules excluded:
Module version for: 2017/8

Module Convenor: Dr Mark Guzman


Summary module description:
The purpose of the module is to organise the basic set of knowledge about how the macroeconomy works in a coherent, albeit not purely formal, structure.

To develop a coherent macroeconomic framework within which the main macroeconomic issues can be analysed in both closed- and open-economy models. Complementing macro-theory with data analysis and empirical applications, we would also try to better understand, analyse and discuss potential solutions to a number of topical issues faced in modern macro-policy.

Assessable learning outcomes:
At the end of the module students should be able to:
Understand and explain the principles determining the level of economic activity, the causes and consequences of inflation and the relationship between inflation and unemployment;
Extend the understanding of closed-economy relationships to the analysis of basic open-economy issues.

Additional outcomes:
Understand and analyse the links among sectors and their activity at a macro level. Assess and interpret topical macroeconomic events or processes in the world economy.

Outline content:
The module will enable students to explain the principles determining the level of output, the causes and consequences of inflation and unemployment, the relationship between inflation and economic activity, the determinants of the exchange rate and of the choice between domestic and foreign goods or assets.

Brief description of teaching and learning methods:
Lectures will develop all the main module material. Tutorials will cover exercise material designed to facilitate understanding of lecture topics.

Contact hours:
  Autumn Spring Summer
Lectures 30 2
Tutorials 4
Guided independent study 150 14
Total hours by term 184.00 16.00
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written exam 60
Set exercise 15
Class test administered by School 25

Other information on summative assessment:

Coursework may include a number of different methods for assessing student’s knowledge. These may include, but are not limited to: Problem Sets: Numerous short assignments requiring students to provide short answers and numerically solve relevant problems Quizzes: Short tests intended to ascertain students understanding of recent topics discussed in class. Test: An in-class test aimed primarily at ascertaining a student’s understanding and comprehension of a subset of the materials covered during lectures. The exact requirements of the module for a given term will be explicitly detailed in the syllabus handed out at the beginning of each term in which the module is offered. Coursework will count for 40% of the overall grade. The exact weights of the different pieces of coursework required will also be explicitly stated in the syllabus.

Formative assessment methods:

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at:
    You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

    Length of examination:
    One 3-hour unseen written paper.
    Part 2 examinations are held in the Summer term.

    Requirements for a pass:
    A minimum overall mark of 40%.

    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: Macroeconomics with Launchpad Access, 9th edition, by N. Gregory Mankiw, Worth Publishers, 2016, ISBN: 978-1-4641-8289-1, (Extimated Price: £64.99).

    Last updated: 20 April 2017

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