EC202NU-Intermediate Macroeconomics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:5
Semesters in which taught: Semester 2 module
Pre-requisites: EC113NU Introductory Microeconomics and EC114NU Introductory Macroeconomics and EC125NU Introductory Quantitative Methods in Economics and Business and EC128NU Intermediate Mathematics for Economics
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

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

NUIST Module Lead: Burak Sungu
Email: baraksungu@gmail.com

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:

1. understand and explain the basic development of macroeconomics during the twentieth century;


2. develop simple macroeconomic models based on differing assumptions about the underlying economy;


3. economically and mathematically explain the links between the major variables of importance in macroeconomics;


4. 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:

	Semester 1	Semester 2
Lectures		84
Tutorials		12
Guided independent study:		104
Total hours by term	0	200
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	50
Written assignment including essay	10
Set exercise	10
Class test administered by School	30

Summative assessment- Examinations:

One 2-hour unseen written paper.

Summative assessment- Coursework and in-class tests:

Coursework includes three different methods for assessing student’s knowledge. These include:1) One problem set containing numerous short questions requiring students to provide short answers and numerically solve relevant problems. 2) One group essay intended to test student’s ability to read a high-level journal article and provide a referee report based on its contests. 3) An in-class midterm test aimed primarily at ascertaining a student’s understanding and comprehension of a subset of the materials covered during lectures. The exact requirements of the module for a given term will be explicitly detailed in the syllabus handed out at the beginning of each term in which the module is offered. Coursework will count for 50% of the overall grade. The exact weights of the different pieces of coursework required will also be explicitly stated in the syllabus.

Formative assessment methods:

Multiple in-class tutorials requiring students to provide short technical answers and to write simple, short essays of analytical nature. 

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-assessment is by examination only; coursework is not included at the second attempt.

Additional Costs (specified where applicable):

1) Required text books: 

Macroeconomics with Launchpad Access, 10th edition, by N. Gregory Mankiw, Worth Publishers, 2019, ISBN: 978-1-319-24358-6, (Estimated Price: £64.99). or

Macroeconomics, 8th edition by Olivier Blanchard, Pearson (Estimated Price: £53)

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: 13 September 2023