Module Descriptors
ECONOMIC ENVIRONMENT (MACROECONOMICS)
ECON50124
Key Facts
School of Justice, Security and Sustainability
Level 5
15 credits
Contact
Leader: Junie Tong-Clark
Email: J.T.Tong@staffs.ac.uk
Hours of Study
Scheduled Learning and Teaching Activities: 36
Independent Study Hours: 114
Total Learning Hours: 150
Assessment
- EXAMINATION - UNSEEN IN EXAMINATION CONDITIONS weighted at 100%
Module Details
ASSESSMENT DETAILS
An Examination, length 1.5 HOURS weighted at 100% (Tests learning outcomes 1, 2, 3, and 4).
INDICATIVE CONTENT
This module will introduce students to macroeconomic analysis to offer an appreciation of the economic 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 Equilibrium in the Economy
Circular flow of income
Aggregate demand, aggregate supply
Fiscal policy
Monetary policy
Gross Domestic Product & Unemployment
Inflation
International trade
Protectionism / Free trade
Europe and the euro
Topics:
Introductory concepts Equilibrium in the Economy
Circular flow of income
Aggregate demand, aggregate supply
Fiscal policy
Monetary policy
Gross Domestic Product & Unemployment
Inflation
International trade
Protectionism / Free trade
Europe and the euro
LEARNING OUTCOMES
1. DEMONSTRATE KNOWLEDGE AND UNDERSTANDING OF THE MACROECONOMIC CONCEPTS AND PRINCIPLES
Knowledge & Understanding
2. DEMONSTRATE AN AWARENESS OF THE CONTEMPORARY MARCOECONOMIC ENVIRONMENT AND HOW IT AFFECTS BUSINESS.
Learning
Problem Solving
3. UNDERSTAND THE FACTORS CONTRIBUTING TO AN UNDERSTANDING OF THE INTERNATIONAL BUSINESS ENVIRONMENT AND THE INFLUENCE OF THESE FACTORS ON INTERNATIONAL BUSINESS OPERATIONS.
Knowledge & Understanding
4. UNDERSTAND AND APPLY BASIC STATISTICS AND DATA AND UNDERSTAND HOW THEY CAN BE IMPORTANT FOR ECONOMIC ANALYSIS.
Application
Analysis
Problem Solving
Knowledge & Understanding
2. DEMONSTRATE AN AWARENESS OF THE CONTEMPORARY MARCOECONOMIC ENVIRONMENT AND HOW IT AFFECTS BUSINESS.
Learning
Problem Solving
3. UNDERSTAND THE FACTORS CONTRIBUTING TO AN UNDERSTANDING OF THE INTERNATIONAL BUSINESS ENVIRONMENT AND THE INFLUENCE OF THESE FACTORS ON INTERNATIONAL BUSINESS OPERATIONS.
Knowledge & Understanding
4. UNDERSTAND AND APPLY BASIC STATISTICS AND DATA AND UNDERSTAND HOW THEY CAN BE IMPORTANT FOR ECONOMIC ANALYSIS.
Application
Analysis
Problem Solving
LEARNING STRATEGIES
The learning strategy for the module requires students to commit 150 learning hours (including assessment). There will be 36 hours of class support and 114 hours of independent and self-directed study.
Students will engage with:
¿ A mix of lectures / tutorials and small group activities, plus self-directed learning. Learning support material will be provided for independent / self-directed learning.
¿ Participation in group activities
¿ Workshops
¿ Technology supported activities (e.g. wiki development)
Students will engage with:
¿ A mix of lectures / tutorials and small group activities, plus self-directed learning. Learning support material will be provided for independent / self-directed learning.
¿ Participation in group activities
¿ Workshops
¿ Technology supported activities (e.g. wiki development)
RESOURCES
A range of resources, including the university library and IT facilities, the internet, academic journals and databases.
TEXTS
Gillespie, A. (2014) Foundations of Economics, 3rd ed. New York: Oxford University Press
Parkin, M., Powell, M., & Matthews, K. (2012). Essential Economics: European Edition. Essex, UK: Pearson. Sloman, J. and Wride, A., & Garratt , D. (2012). Economics (8th ed.). Essex, UK: Pearson.
Parkin, M., Powell, M., & Matthews, K. (2012). Essential Economics: European Edition. Essex, UK: Pearson. Sloman, J. and Wride, A., & Garratt , D. (2012). Economics (8th ed.). Essex, UK: Pearson.