For the initial part of the module the appropriate text will depend upon your background in macroeconomic analysis, you will be given a personaled recommendation by your tutor. The discussion of contemporary issues will utlise articles drawn predominantly from publications such as Economic Outlook and National Institute Economic Review.

Your ability to utilise macroeconomic analysis to examine the environment within which individual organisations operate will be assessed by means of a 2 hour end of semester examination.

In order to award a pass mark, examiners will have to be convinced that you are able to develop analytical arguments in macroeconomics. They will expect you to be able to apply analysis to contemporary macroeconomic trends and evaluate the impact of shocks upon the business environment.

For a distinction to be awarded, the examiners will have to find evidence of:- a critical evaluation of analysis; an ability to assess empirical evidence, and originality in developing or applying analysis.

This module provides a contextual basis for your analysis of inter-organisational and inter-industry behaviour. It does not seek to develop a detailed analysis of macroeconomic relationships, but instead it provides a framework with which you can analyse how macroeconomic forces, particularly government policy, influence the operation of organisations. Initially the module develops an overview of mainstream macroeconomic analysis of an open economy, concentrating upon the short and medium term. Within this overview key propositions of New Classical Theory are developed. The remainder of the module addresses key themes, chosen to reflect current concerns. Initially these themes are examined as direct extensions of the core analysis, such as central bank independence in the UK and EMU. However, the later themes will have a greater international flavour and will not be restricted to those directly utilising the core, for example examining the nature and determinants of globalisation and economic integration and examining their consequences for the nature and achievement of international competitiveness.

Delivery will be by means of a weekly 2-hour class. Initially these classes will biased towards introducing core macroeconomic theory. As you develop the necessary analystical skills, the weight will shift towards class discussions of contemporary macroeconomic issues. Typically, you will be required to examine two, usually short, articles fortnightly developing answers to pre-circulated questions. These questions will form the basis of class discussions and your understanding of these topics will ultimately be assessed in the end of semester examination. Overall, tutor-led discussions will account for 60 per cent of contact time with prepared question-based discussions forming the remainder.

A set of published articles to be discussed in class.