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EC201: Macroeconomics 2

  • Roberto Pancrazi

    Module Leader
  • Federico Rossi

    Module Lecturer
30 CATS - Department of Economics
Summer Module
Spring Module
Autumn Module

Principal Aims

This module provides students with the opportunity to understand the core theoretical models used in macroeconomics, for both closed and open economies, and how to use them to enhance their comprehension of real-world macroeconomic experiences, especially involving macroeconomic policy.

Principal Learning Outcomes

Subject-specific and Professional Key General SkillsDemonstrate proficiency in study and research skills such as: data skills: Use of library and internet as information sources. Knowledge of how to locate relevant data, extract appropriate data, analyse and present material.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Subject-specific and Professional Key General SkillsDemonstrate proficiency in study and research skills such as: mathematical/statistical skills: use/application of mathematics and diagrams in economic analysis; understanding of statistical analysis of data. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Subject-specific and Professional Key General SkillsDemonstrate proficiency in study and research skills such as: communicating their knowledge and understanding to others, verbally and in writing.The teaching and learning methods that enable students to achieve this learning outcome are: Seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Subject Knowledge and Understanding Demonstrate knowledge and understanding of: The core theoretical models used in macroeconomics, for both open and closed economies.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Subject-specific and Professional Key General SkillsDemonstrate proficiency in study and research skills such as: reviewing the relevant literature and evidence.The teaching and learning methods that enable students to achieve this learning outcome are: Seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Subject Knowledge and Understanding Demonstrate knowledge and understanding of: Economic Principles: Knowledge and understanding of core concepts and methods in macroeconomics.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Subject Knowledge and Understanding Demonstrate knowledge and understanding of: Real-world macroeconomic experiences, especially those involving macroeconomic policy.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Subject Knowledge and Understanding Demonstrate knowledge and understanding of: The relationships between different models and how to apply them in the analysis of recent macroeconomic episodes, and policy discussions affecting actual economies.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Cognitive SkillsDemonstrate capacity of: Analytical thinking, reasoning and application.The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Cognitive SkillsDemonstrate capacity of: Critical, creative and strategic thinking. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Cognitive SkillsDemonstrate capacity of: Abstraction and Problem solving. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Cognitive SkillsDemonstrate capacity of: Applying critical analysis to the topics of the module, formulating concepts and hypotheses, and showing how they are tested in relevant literatureThe teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent studyThe summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Syllabus

The module will typically cover the following topics:1. Flex-Price Models and Policy Issues (Closed Economy). Price-setting. Investment.Consumption. Growth. Wage-setting and Unemployment. Money and Inflation.2. Sticky-Price Models and Monetary Policy (Closed Economy). (Term 1)3. Fiscal Policy. Business Cycles. Economic Policy. Financial Markets.4. Open Economy and Policy Issues. International Trade. International FinancialMarkets. Exchange Rate Systems. Monetary unions. (Term 2)

Context

Core Module
L100 - Year 2, L116 - Year 2, L1P5 - Year 1, L1PA - Year 1
Pre or Co-requisites
EC108 or EC107 with a mark of 65% plus guided reading in summer vacation Modules: EC107-30 or EC108-30
Part-year Availability for Visiting Students
Available in the Autumn term only (1 x test – 12 CATS) and in the Spring term only (1 x test -12 CATS) and in the Autumn and Spring terms together (2 x tests - 24 CATS)

Assessment

Assessment Method
Coursework (20%) + 3-hour examination (Summer) (80%)
Coursework Details
Test 1 (10%), Test 2 (10%), 3-hour examination (Summer) (80%)
Exam Timing
Summer

Exam Rubric

Time: 3 hours

Answer all TEN questions (Multiple choice) from SECTION A, BOTH questions from SECTION B, ONE question from SECTION C and BOTH questions from SECTION D.

Approved pocket calculators are allowed.

Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

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