An Examination, length 1.5 HOURS weighted at 100% (Tests learning outcomes 1, 2, 3, and 4).

This module will introduce students to macroeconomic analysis to offer an appreciation of the economic business environment in domestic and international markets. Throughout the module, the emphasis will be on the application of theory to practical problems and policy issues. The mathematics required for understanding the concepts and models will be integrated into the deliveries.

Topics:
Introductory concepts
Circular flow of income
Aggregate demand, aggregate supply
Fiscal policy
Monetary policy
Unemployment
Inflation
International trade
Protectionism / Free trade
Europe and the euro

Supporting maths:
Basic AD equations and macroeconomic equilibrium
Calculation of fiscal and credit multipliers
Use of macroeconomic data, including market share and trend analysis
Calculation of basic macroeconomic data (e.g. CPI, GDP deflator, unemployment rate, terms of trade)
Real and nominal values (e.g. interest rates)
Calculation of Absolute and Comparative advantages

A range of resources, including the university library and IT facilities, the internet, academic journals and databases.

Gillespie, A. (2014) Foundations of Economics, 3rd ed. New York: Oxford University Press

Krugman, P., and Wells, R. (2013) Economics, 3rd ed. New York: Macmillan
Sloman, J., Wride, A., and Garratt, D. (2012) Economics, 8th ed. Essex: Pearson

The learning strategy for this module is based around students committing a total of 150 hours of activities towards achieving the learning outcomes. These will be split between 39 hours of direct contact with a tutor and 111 hours of directed, guided and self-study, together with preparation for and completion of the assessment tasks. Learning support material will be provided for the module.
The module will draw upon a mixture of activities including lectures, web-based activities, case study analysis, relevant videos and in-class discussions, individual and group problem solving and self-directed learning.