ECM192-Macroeconomics I

Module Provider: School of Politics, Economics and International Relations
Number of credits: 10 [5 ECTS credits]
Level:7
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2020/1

Email: z.wang6@reading.ac.uk

Type of module:

Summary module description:

This module provides an introduction to the core elements of macroeconomic theory which are necessary for an understanding of macroeconomic policy. The module will focus on how economic policies at the national level impact employment, inflation, and output. The module is designed for students with limited prior understanding of macroeconomics, or who wish to review their understanding of basic macroeconomic theory.

Aims:

The primary focus of this module is twofold: (1) understanding the core macroeconomic concepts of growth, inflation and unemployment – and how they are interrelated; and (2) understanding how fiscal and monetary policy at the national level influence growth, inflation and employment.

Assessable learning outcomes:

At the end of the module, students should be able to:

1. explain the principles determining the level of economic activity, the causes and consequences of inflation and the relationship between inflation and unemployment;


2. explain the impact of different monetary and fiscal policies on growth, inflation and employment;


3. apply macroeconomic concepts and methods to analyse and interpret real-world phenomena.

Additional outcomes:
Students will be required to complete coursework such as problem sets, tests, essays, presentations, etc. In the process of completing these types of assignments, they must learn skills required to write reports, produce concise relevant presentations, and apply theoretical knowledge to real world situations.

Outline content:

Topics to be covered include: GDP, inflation, unemployment, aggregate supply and demand, understanding what constitutes monetary and fiscal policy, understanding the basic connections between macroeconomic variables and policies.

Brief description of teaching and learning methods:

Detailed guidance on the topics covered will be provided in the weekly lectures, together with handouts covering the material discussed, examples, exercises and solutions to facilitate understanding of key concepts. Tutorials will provide an opportunity to explore applications of the theory in more depth. Students will be expected to supplement the lectures with the recommended reading and to do some research using the library, internet or other resources. Office hours are available for stude nts to consult the lecturer on an individual basis.

Summative assessment- Examinations:

One 2-hour unseen written paper, intended to be comprehensive of everything covered in the module.

Postgraduate examinations are held in the Summer term.

Summative assessment- Coursework and in-class tests:

Coursework will count for 40% of the overall mark

Formative assessment methods:

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:
A minimum weighted average mark of coursework and examination of 50%.

Reassessment arrangements:

Re-examination for all modules takes place in August of the same year. Re-assessment is by examination only; coursework is not included at the second attempt.

Additional Costs (specified where applicable):
1) Required text books: Recommended but not required: Macroeconomics by N. Gregory Mankiw, Worth Publishers. Retail price is £50.
2) Specialist equipment or materials:
3) Specialist clothing, footwear or headgear:
4) Printing and binding:
5) Computers and devices with a particular specification:
6) Travel, accommodation and subsistence:

Last updated: 19 October 2020