ES12002: Macroeconomics 1
[Page last updated: 23 October 2023]
| Academic Year: | 2023/24 |
| Owning Department/School: | Department of Economics |
| Credits: | 15 [equivalent to 30 CATS credits] |
| Notional Study Hours: | 300 |
| Level: | Certificate (FHEQ level 4) |
| Period: |
- Academic Year
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| Assessment Summary: | CWPG 50%, EXCB 50% |
| Assessment Detail: |
- Project output group (CWPG 50% - Qualifying Mark: 35)
- Closed book written examination (EXCB 50% - Qualifying Mark: 35)
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| Supplementary Assessment: |
- Like-for-like reassessment (where allowed by programme regulations)
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| Requisites: |
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| Learning Outcomes: |
- Outline core concepts within macroeconomics
- Explain how core concepts in macroeconomics relate to macroeconomic policy issues
- Employ the concepts and principles of macroeconomics in the solution of macroeconomic problems
- Explain assumptions underlying core macroeconomic concepts
- Communicate macroeconomic ideas clearly and effectively
- Plan, manage and reflect on their own learning and practice
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| Synopsis: | Gain introductory knowledge of the main macroeconomic variables, including output, inflation, employment, interest rates and the exchange rate.
During this unit youll learn about how variables are measured, the key macroeconomic concepts used to explain them, and explore associated important policy issues.
Youll explore alternative theories of the business cycle and evaluate them by how well they explain the facts.
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| Content: | Definition and measurement of key macroeconomic variables, including output, inflation, employment, interest rates and the exchange rate.
Outline of core macroeconomic ideas and theories in the explanation of output, unemployment, interest rates, inflation and exchange rates.
Macroeconomic models and their representation. These may include: IS-LM model, AS-AD model.
Macroeconomic analysis of markets, market clearing and imperfections: the labour market, the money market, the goods market, open economy markets.
Discussion of central macroeconomic policy issues.
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| Course availability: |
ES12002 is Compulsory on the following courses:
Department of Economics
- UHES-AFB10 : BSc(Hons) Economics (Year 1)
- UHES-AFB12 : BSc(Hons) Economics and Mathematics (Year 1)
- UHES-AKB12 : BSc(Hons) Economics and Mathematics with professional placement (Year 1)
- UHES-AKB12 : BSc(Hons) Economics and Mathematics with professional placement and study abroad (Year 1)
- UHES-AKB12 : BSc(Hons) Economics and Mathematics with study abroad (Year 1)
- UHES-AFB11 : BSc(Hons) Economics with Politics (Year 1)
- UHES-AKB11 : BSc(Hons) Economics with Politics with professional placement (Year 1)
- UHES-AKB11 : BSc(Hons) Economics with Politics with professional placement and study abroad (Year 1)
- UHES-AKB11 : BSc(Hons) Economics with Politics with study abroad (Year 1)
- UHES-AKB10 : BSc(Hons) Economics with professional placement (Year 1)
- UHES-AKB10 : BSc(Hons) Economics with professional placement and study abroad (Year 1)
- UHES-AKB10 : BSc(Hons) Economics with study abroad (Year 1)
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Notes: - This unit catalogue is applicable for the 2023/24 academic year only. Students continuing their studies into 2024/25 and beyond should not assume that this unit will be available in future years in the format displayed here for 2023/24.
- Courses and units are subject to change in accordance with normal University procedures.
- Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
- Find out more about these and other important University terms and conditions here.
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