ECM102-Macroeconomic Policy

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Autumn / Spring term module
Non-modular pre-requisites:
Modules excluded:
Current from: 2020/1

Module Convenor: Miss Zhe Wang


Type of module:

Summary module description:

This module is intended to form a basic master’s level understanding of the core theories necessary to understand macroeconomic policy. This module provides a theoretical basis to understanding economic issues and policies. In particular, it is concerned how economic policies at the national and international level impact growth, employment, inflation, and recessions.


The primary focus of this module is twofold: (1) understanding the core macroeconomic concepts of growth, inflation and unemployment – and how they are interrelated and (2) understanding how fiscal and monetary policy at both the national and international level influences these concepts. This includes having a detailed understanding of basic concepts such as GDP, inflation, and unemployment, understanding how monetary and fiscal policies are used, and applying these concepts to real world phenomenon.

Assessable learning outcomes:
Students should be able to describe the basic issues of concern at the macroeconomic level. In addition, they should be able to relate how monetary and fiscal policy at the national, and even international, level impact employment, growth and recession. 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, produce concise relevant presentations, understand technical articles, and apply theoretical knowledge to real world situations.

Outline content:

Topics include: GDP, inflation, unemployment, aggregate supply and demand, understanding what constitutes monetary and fiscal policy, understanding the basic connections between macroeconomic variables and policies, liquidity traps, long-run economic growth. 

Global context:

The content is all motivated by seeking to understand the macroeconomic differences between countries and their trajectories over time, as well as the different macroeconomic policies they employ.

Brief description of teaching and learning methods:

Detailed guidance on the topics covered will be provided in the 10 x 2 hours weekly lectures, together with 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 three (4) tutorials). Students may be required to do exercises corresponding to each topic, to read academic journal articles, and to undertake research using the library, internet, etc.

Contact hours:
  Autumn Spring Summer
Lectures 11 11
Tutorials 4 4
Guided independent study: 75 75 20
Total hours by term 90 90 20
Total hours for module 200

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

Summative assessment- Examinations:

Two 2-hour unseen written papers. Postgraduate examinations are held in the Summer term.

Summative assessment- Coursework and in-class tests:

Coursework will count for 40% of the overall mark and comprises: two problem sets (20% each) 

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:

Assessment 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:
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: 19 October 2020


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