Foundations of Macroeconomics: Growth, Cycles and Policy
| Code | School | Level | Credits | Semesters |
| ECON1023 | Economics | 1 | 10 | Spring UK |
- Code
- ECON1023
- School
- Economics
- Level
- 1
- Credits
- 10
- Semesters
- Spring UK
Summary
This is a single semester introductory course in macroeconomics; there is no assumption of any prior knowledge of economics. Macroeconomics is the study of the aggregate economy. This module will focus on the determinants of aggregate output, both in the short run - addressing cyclical movements of booms and busts - and in the long run - providing an introduction to economic growth. A running theme will be debates over the role of the government in macroeconomic management, covering fiscal and monetary policy. The module will introduce a series of basic models used in modern macroeconomics.
Target Students
Available to Year 1 Undergraduate students on the BA Hons Philosophy, Politics and Economics degree. Not available to Industrial Economics students. Not available to Exchange students. This module cannot be taken with ECON1043 Foundations of Economics.
Classes
This module is delivered through a series of lectures and tutorials.
Assessment
- 100% Exam 1 (1-hour): Exam
Assessed by end of spring semester
Educational Aims
There are three general aims for this module, and they are:To provide a sound basis in the fundamentals of macroeconomics and their application to both theoretical and real-world situations.To develop analytical skills using the major methods of mathematics and diagrams.To engender the ability to communicate and report findings, particularly via tutorial essays, presentations and exercises.Learning Outcomes
On completing this module, the learning outcomes are such that students will be able to:
Knowledge and Understanding:
- Demonstrate a broad knowledge of core areas of economics.
- Apply core economic theory and economic reasoning to applied topics.
- Show understanding of analytical methods, both theory- and model-based.
- Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
- Discuss and analyse government policy.
Intellectual Skills:
- Work with abstract concepts and in a context of generality.
- Reason logically and work analytically.
- Understand the context in which a problem is to be addressed.
Professional / Practical Skills:
- Select and apply appropriate techniques to solve problems.
- Justify conclusions using economic arguments with appropriate rigour.