EC202-Intermediate Macroeconomics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:5
Terms in which taught: Autumn term module
Pre-requisites: EC113 Introductory Microeconomics and EC114 Introductory Macroeconomics and EC116 Introductory Mathematics for Economics 1 or EC113 Introductory Microeconomics and EC114 Introductory Macroeconomics and IC104 Introductory Quantitative Techniques for Business and Finance or EC113 Introductory Microeconomics and EC114 Introductory Macroeconomics and EC121 Introductory Mathematics for Economics 2
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2022/3

Module Convenor: Dr Mark Guzman
Email: m.g.guzman@reading.ac.uk

Type of module:

Summary module description:

Intermediate Macroeconomics builds on concepts introduced in Principles of Macroeconomics.  It is designed to provide a more in-depth understanding of the fundamental principles and analytic concepts related to economic growth, inflation, unemployment and interest rates.  

Aims:

You should develop a clearer understanding of the specific determinants of growth, the causes of unemployment and inflation and also the importance of interest rates in the economy.  In addition, you should have a deeper appreciation of the interrelationship between these macroeconomic variables and government policy, and thus, be able to critically analyze relevant issues discussed in newspapers, magazines, and by politicians.  

Assessable learning outcomes:

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

Understand and explain the basic development of macroeconomics during the twentieth century, develop simple macroeconomic models based on differing assumptions about the underlying economy, economically and mathematically explain the links between the major variables of importance in macroeconomics, apply these models to real world situations.

Additional outcomes:

You should:

Be able to provide analysis for the likely impact of both future events and also future policies on the key variables of interest, understand and interpret basic macro data sets, be able to coherently link data, mathematical models and the real world. 

Outline content:

This course has been broken down into two parts.  The first part of the course focuses on the long-run determinants of economic growth, while the second part examines the theory underlying short-run fluctuations in the economy.  Finally, time permitting, we will explore how modern macroeconomics builds upon the previous two parts of the course.

Brief description of teaching and learning methods:
Lectures will develop all the main module material. Tutorials will cover exercise material designed to facilitate understanding of lecture topics.

Contact hours:

	Autumn	Spring	Summer
Lectures	30		1
Tutorials	4
Guided independent study:	150		15
Total hours by term	184	0	16
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	50
Set exercise	20
Class test administered by School	30

Summative assessment- Examinations:

One 3-hour unseen written paper. Part 2 examinations are held in the Summer term.

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

The details underlying the coursework weighting given above are as follows.  Set exercises will be accessed by means of a combination of problem sets and/or on-line quizzes.  Problem Sets are short assignments requiring students to provide short answers and numerically solve relevant problems using mathematical and graphical means.  On-line quizzes are a collection of short, multiple-choice questions given via Blackboard.  They are timed constrained in nature (once started), although there will be a multi-day period over which they can be begun.  There will be two quizzes/problem sets, equally weighted which when combined make up the 20% weighting of set exercises.  The class test will also be constituted by two pieces of work.  These will be a mid-term test and an end-of-term test – equally weighted.  These tests are designed to be either an in-class, closed book and no lecture notes or on-line, open book and with lecture notes – depending on external factors prevailing at the time.  Tests are aimed primarily at ascertaining a student’s understanding and comprehension of a subset of the materials covered during lectures, in the textbook, and on non-graded problem sets.  In addition, they are intended to give students a better understanding of what they actually know – as a means for helping students to further determine those areas where additional studies are required.  The details of the coursework and weightings is also laid out in detail in the syllabus, available at the beginning of the course via Blackboard.

Formative assessment methods:

In addition to the graded assessments mentioned above, there will also be numerous non-graded quizzes and problem sets throughout the term.  The objective of these will be to provide further means for practicing and getting comfortable with the ideas, concepts and procedures we use throughout the course.  Although not forming part of the formal grade, all quizzes are graded, and all problem sets will have outlines of answers provided – so that students have detailed information about those concepts they have and have not understood.  In addition, the problem sets will form the basis for the materials covered in the tutorial sessions accompanying this course.

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:
A minimum overall mark of 40%.

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: 

Macroeconomics with Achieve Digital Access, 11th edition, by N. Gregory Mankiw, Worth Publishers, 2022, ISBN: 978-1-319-24358-6, (Estimated Price: £64.99). Macroeconomics - N. Gregory Mankiw - Macmillan International Higher Education (macmillanihe.com)

Maths for Economics, by Ken Heather and Simka Stefanova, Cengage Learning, 2017, ISBN: 978-1-4737-2542-3

2) Specialist equipment or materials:  None

3) Specialist clothing, footwear or headgear:  None

4) Printing and binding:  None

5) Computers and devices with a particular specification:  None

6) Travel, accommodation and subsistence:  None

Last updated: 22 September 2022