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ES10002: Introductory macroeconomics

Follow this link for further information on academic years Academic Year: 2012/3
Follow this link for further information on owning departmentsOwning Department/School: Department of Economics
Follow this link for further information on credits Credits: 6
Follow this link for further information on unit levels Level: Certificate (FHEQ level 4)
Follow this link for further information on period slots Period: Semester 2
Follow this link for further information on unit assessment Assessment: CW 40%, EX 60%
Follow this link for further information on supplementary assessment Supplementary Assessment: ES10002A - Resit Examination (where allowed by programme regulations)
Follow this link for further information on unit rules Requisites:
Follow this link for further information on unit content Description: Aims:
The Unit is designed to provide an introduction to the methods of macroeconomic analysis, including the use of simple macroeconomic models and their application in a UK policy context. Students should gain an ability to derive conclusions from simple economic models and evaluate their realism and usefulness in policy making.

Learning Outcomes:
By the end of the course unit students should be able to understand and apply basic macroeconomic principles to the economic decisions of the policy-maker. They should be able to use these principles to both describe and appraise these decisions as well as to understand how macroeconomic problems arise. They should be competent in the verbal, diagrammatic and basic mathematical concepts used in introductory macroeconomics, providing a suitable platform for the more advanced study of this subject in future years.

Skills:
Basic grounding in introductory microeconomics. Students will acquire skills in problem solving through work completed in class and assessment. They will undertake a piece of applied research work with respect to a current topic in macroeconomics.

Content:
The circular flow of income and expenditure; national income accounting; aggregate demand and supply; the components and determinants of private and public sector aggregate expenditure in closed and open economies; output and the price level in the short- and long-run; monetary and fiscal policy; inflation and unemployment; the balance of payments and exchange rates; economic growth, economic cycles; macroeconomic modelling.
Key text: Richard G. Lipsey and K. Alec Chrystal An Introduction to Positive Economics
Supplementary texts: M.J. Artis (ed) The UK Economy: a Manual of Applied Economics
Alan Griffiths and Stuart Wall Applied Economics.
Follow this link for further information on programme availabilityProgramme availability:

ES10002 is Compulsory on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc (hons) Economics (Full-time) - Year 1
  • UHES-AKB03 : BSc (hons) Economics (Full-time with Thick Sandwich Placement) - Year 1
  • UHES-AFB02 : BSc (hons) Economics and International Development (Full-time) - Year 1
  • UHES-AKB02 : BSc (hons) Economics and International Development (Full-time with Thick Sandwich Placement) - Year 1
  • UHES-AFB01 : BSc (hons) Economics and Politics (Full-time) - Year 1
  • UHES-AKB01 : BSc (hons) Economics and Politics (Full-time with Thick Sandwich Placement) - Year 1
School of Management
  • UMMN-AFB02 : BSc (hons) Accounting and Finance (Full-time) - Year 1
  • UMMN-AKB02 : BSc (hons) Accounting and Finance (Full-time with Thick Sandwich Placement) - Year 1

ES10002 is Optional on the following programmes:

Department of Social & Policy Sciences
  • UHSP-AFB16 : BSc (hons) Social Policy (Full-time) - Year 1
  • UHSP-AKB16 : BSc (hons) Social Policy (Full-time with Thick Sandwich Placement) - Year 1

Notes:
* This unit catalogue is applicable for the 2012/13 academic year only. Students continuing their studies into 2013/14 and beyond should not assume that this unit will be available in future years in the format displayed here for 2012/13.
* Programmes and units are subject to change at any time, 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.