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EC239: Economics 2: Macroeconomics

  • Jennifer Smith

    Module Leader
15 CATS - Department of Economics
Spring Module

Principal Aims

EC239-15 Economics 2: Macroeconomics

Principal Learning Outcomes

Subject-Specific/Professional Skills Produce concise and analytical reports relating to economic problems and issues. The teaching and learning methods that enable students to achieve this learning outcome are: Essay and Seminar presentations. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative), Summer Examination (summative). Subject knowledge and understanding To understand key concepts and principles in intermediate macroeconomics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Seminar discussions, Essay. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative), Summer Examination (summative). Subject knowledge and understanding To apply rigorous knowledge of theoretical models which underlie economic analysis. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Seminar discussions, Essay. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative), Summer Examination (summative). Key Skills Conduct individual and collaborative research into an Economic topic, using world wide web and library resources The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, seminar discussions and essay. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative) Subject knowledge and understanding To abstract and simplify economic problems through the application of theoretical models. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Seminar discussions, Essay. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative), Summer Examination (summative). Key Skills Communicate knowledge and understanding of economics in written, spoken, graphical and in mathematical forms. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essay and Seminar discussions. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative), Summer Examination (summative). Key Skills Present the output of their own work to an audience. The teaching and learning methods that enable students to achieve this learning outcome are: Seminar discussions and essay. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative) Cognitive Skills Analyse and formulate models for understanding and solving problems. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essay and Seminar discussions. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essays, Group Projects (formative), Summer Examination. Cognitive Skills Analyse competing models and hypotheses in a critical way. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Readings and Essay. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative) Essay (summative), Summer Examination (summative). Subject-Specific/Professional Skills Select and apply appropriate economic models and techniques to particular problems especially those of a policy nature. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Essay and Seminar discussions. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative), Summer Examination (summative). Subject knowledge and understanding To understand the uses, applications and limitations of theoretical models. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Seminar discussions, Essay. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative), Summer Examination (summative). Subject knowledge and understanding To demonstrate knowledge of macroeconomic policies and understand the role of theory in analysing their effectiveness The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Seminar discussions, Essay. The summative assessment methods that measure the achievement of this learning outcome are: Exercise question sheet answers (formative), Essay (summative), Summer Examination (summative).

Syllabus

The exact topics may vary, but the syllabus will typically include:

Aggregate supply and the labour market

The unemployment – inflation relationship

Aggregate demand

The use and effectiveness of monetary policy

The role of fiscal policy

The role of expectations in the economy

The open economy

Policy in an open economy

Exchange rate regimes

Labour markets and the macroeconomy

Unemployment

Efficiency wages

Context

Core Module
X35B - Year 2
Pre or Co-requisites
EC106 (for MORSE students) or EC136 or EC131 and EC229 with a mark of 60% in each plus passes in IB121 and IB122.
Restrictions
LA99 students must take EC204 instead
Part-year Availability for Visiting Students
Not available on a part-year basis

Assessment

Assessment Method
Coursework (100%)
Coursework Details
Essay (20%), Participation in and engagement with Support and Feedback classes (10%), 2 x online quizzes (5% each) (10%), 1.5 hour examination (summer) (60%)
Exam Timing
N/A

Exam Rubric

Time Allowed: 1.5 hours.

Answer BOTH questions from Section A (40 marks total) and ONE question from Section B (60 marks each). Answer Section A questions in one booklet and Section B questions in a separate booklet.

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.

Reading Lists