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ES10002: Introductory macroeconomics

[Page last updated: 20 April 2021]

Academic Year: 2021/2
Owning Department/School: Department of Economics
Credits: 6      [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Certificate (FHEQ level 4)
Period:
Semester 2
Assessment Summary: EX70OT30
Supplementary Assessment:
ES10002 Resit Exam (where allowed by programme regulations)
Requisites: Before taking this module you must take ES10001
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 macroeconomics. 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.

Programme availability:
NB. Postgraduate programme information will be added when the postgraduate catalogues are published in August 2021

ES10002 is Compulsory on the following programmes:

Department of Economics
  • UHES-AFB03 : BSc(Hons) Economics (Year 1)
  • UHES-AAB03 : BSc(Hons) Economics with Study year abroad (Year 1)
  • UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 1)
  • UHES-AFB04 : BSc(Hons) Economics and Mathematics (Year 1)
  • UHES-AAB04 : BSc(Hons) Economics and Mathematics with Study year abroad (Year 1)
  • UHES-AKB04 : BSc(Hons) Economics and Mathematics with Year long work placement (Year 1)
  • UHES-ACB04 : BSc(Hons) Economics and Mathematics with Combined Placement and Study Abroad (Year 1)
  • UHES-AFB01 : BSc(Hons) Economics and Politics (Year 1)
  • UHES-AAB01 : BSc(Hons) Economics and Politics with Study year abroad (Year 1)
  • UHES-AKB01 : BSc(Hons) Economics and Politics with Year long work placement (Year 1)
  • UHES-ACB01 : BSc(Hons) Economics and Politics with Combined Placement and Study Abroad (Year 1)
  • UHES-ACB03 : BSc(Hons) Economics with Combined Placement and Study Abroad (Year 1)

Notes:

  • This unit catalogue is applicable for the 2021/22 academic year only. Students continuing their studies into 2022/23 and beyond should not assume that this unit will be available in future years in the format displayed here for 2021/22.
  • Programmes 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.