EC201-5-FY-CO:
Macroeconomics (Intermediate)

The details
2023/24
Economics
Colchester Campus
Full Year
Undergraduate: Level 5
Current
Thursday 05 October 2023
Friday 28 June 2024
30
24 October 2023

 

Requisites for this module
EC111 or IA151 or IA153
(none)
(none)
(none)

 

EC324, EC368

Key module for

BSC N233DT Actuarial Science (Including Placement Year),
BSC N323DT Actuarial Science,
BA 0F66 Economics (Including Placement Year),
BA L100 Economics,
BA L102 Economics (Including Foundation Year),
BA L106 Economics (Including Year Abroad),
BSC 0E45 Economics (Including Placement Year),
BSC L101 Economics,
BSC L103 Economics (Including Foundation Year),
BSC L107 Economics (Including Year Abroad),
MECNL130 Economics,
MECNLA30 Economics (Including Placement Year),
MECNLA31 Economics (Including Year Abroad),
BSC L1G2 Economics and Mathematics (Including Placement Year),
BSC LG11 Economics and Mathematics,
BSC LG18 Economics and Mathematics (Including Foundation Year),
BSC LG1C Economics and Mathematics (Including Year Abroad),
BSC L1G1 Economics with Mathematics,
BSC L1G3 Economics with Mathematics (Including Placement Year),
BSC L1G8 Economics with Mathematics (Including Foundation Year),
BSC L1GC Economics with Mathematics (Including Year Abroad),
BA 5A84 Financial Economics (Including Placement Year),
BA L111 Financial Economics,
BA L118 Financial Economics (Including Foundation Year),
BA L195 Financial Economics (Including Year Abroad),
BSC 0Q64 Financial Economics (Including Placement Year),
BSC L114 Financial Economics,
BSC L117 Financial Economics (Including Foundation Year),
BSC L194 Financial Economics (Including Year Abroad),
MECNL131 Financial Economics,
MECNLB31 Financial Economics (Including Placement Year),
MECNLB32 Financial Economics (Including Year Abroad),
BA L900 International Development,
BA L901 International Development (Including Year Abroad),
BA L902 International Development (Including Placement Year),
BA L921 International Development (Including Foundation Year),
BA 9O47 International Economics (Including Placement Year),
BA L115 International Economics,
BA L160 International Economics (Including Foundation Year),
BA L163 International Economics (Including Year Abroad),
BSC 5H18 International Economics (Including Placement Year),
BSC L116 International Economics,
BSC L161 International Economics (Including Foundation Year),
BSC L162 International Economics (Including Year Abroad),
MECNL132 International Economics,
MECNLC32 International Economics (Including Placement Year),
MECNLC33 International Economics (Including Year Abroad),
BA 9L11 Management Economics (Including Placement Year),
BA L108 Management Economics,
BA L190 Management Economics (Including Foundation Year),
BA L192 Management Economics (Including Year Abroad),
BSC 5M00 Management Economics (Including Placement Year),
BSC L109 Management Economics,
BSC L191 Management Economics (Including Foundation Year),
BSC L193 Management Economics (Including Year Abroad),
MECNL133 Management Economics,
MECNL134 Management Economics (Including Placement Year),
MECNL135 Management Economics (Including Year Abroad),
BA L1R0 Economics with a Modern Language,
BSC LG01 Economics with Data Science,
BSC LG02 Economics with Data Science (Including Year Abroad),
BSC LG03 Economics with Data Science (Including Placement Year),
BSC LG04 Economics with Data Science (Including Foundation Year),
BA C841 Economics with Psychology,
BA C851 Economics with Psychology (Including Year Abroad),
BA C861 Economics with Psychology (Including Placement Year),
BSC C148 Economics with Psychology,
BSC C149 Economics with Psychology (Including Foundation Year),
BSC C158 Economics with Psychology (Including Year Abroad),
BSC C168 Economics with Psychology (Including Placement Year),
BA R112 Economics with Language Studies,
BA R113 Economics with Language Studies (Including Foundation Year),
BSC N333DT Actuarial Studies,
BSC N334DT Actuarial Studies (Including Placement Year)

Module description

This module familiarises students with the tools of macroeconomic analysis and show how these tools can be applied in macro-policy issues.


National income accounting; theories of growth; the government budget, fiscal and monetary policies in the short-run; balance of payments and exchange rates; international monetary regimes and domestic stabilisation policies; wage-price flexibility and adjustment to macroeconomic shocks; unemployment, inflation, and the natural rate; monetary policy, dynamic inconsistency, and credibility; microfoundations of sticky wages and prices; microfoundations of aggregate consumption; the quantity theory of money and monetarism.

Module aims

The aim of this module is:



  • To familiarise the student with the tools of macroeconomic analysis and show how these tools can be applied in macro-policy issues.

Module learning outcomes

By the end of this module, students will be expected to be able to:



  1. Build alternative macroeconomic models.

  2. Apply analytical reasoning to derive and compare their main predictions.

  3. Conceptualise actual macroeconomic questions by means of these models.

  4. Evaluate critically alternative macroeconomic policies.


Skills for your Professional Life (Transferable Skills)


By the end of this module, students will also be expected to develop key skills of:



  • Problem solving

  • Numeracy

  • Communication

  • Time management.

  • Academic skills: literacy, numeracy and ICT skills, research, information and communication skills.

  • Professional working skills: adaptability; flexibility, decision-making.

  • External awareness: knowledge of work, creativity and originality. 

  • Personal development planning: Time management, target setting and action planning, self management, reflection and evaluation.

Module information

No additional information available.

Learning and teaching methods

The module will be delivered via:

  • 2 lecture hours per week.
  • 1 class per week.

Feedback for this module will occur through class meetings where we will go over the answers to problem sets and where you will be able to ask questions about your own method of solution; answers that will be posted on the website for the module that will give you written guidance on the appropriate method to approach the problems, assignments, and tests; and office hours where any additional questions can be addressed.

You should be sure that you use these methods to understand how to improve your own performance. For modules including a term paper, the term paper will be returned with individualised feedback that addresses what the marking criteria are and how you could improve your own work.

Bibliography

The above list is indicative of the essential reading for the course.
The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students.
Further reading can be obtained from this module's reading list.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Coursework weighting
Coursework   Autumn Term Test via Moodle - Monday 20th November 2023, 6pm-8pm    50% 
Coursework   Spring Term Test via Moodle - Monday 12th February 2024, 6pm-8pm    50% 
Exam  Main exam: In-Person, Open Book, 180 minutes during Summer (Main Period) 
Exam  Reassessment Main exam: In-Person, Open Book, 180 minutes during January 
Exam  Reassessment Main exam: In-Person, Open Book, 180 minutes during September (Reassessment Period) 

Exam format definitions

  • Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
  • In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
  • In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
  • In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary, for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.

Your department will provide further guidance before your exams.

Overall assessment

Whichever is the Greater: EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark OR 100 per cent Exam Mark IF Coursework Mark is a pass or better

Reassessment

Whichever is the Greater: EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark OR 100 per cent Exam Mark IF Coursework Mark is a pass or better

Module supervisor and teaching staff
Mr Lukas Mayr, email: lukas.mayr@essex.ac.uk.
Dr Valerio Pieroni, email: valerio.pieroni@essex.ac.uk.
Lectures: Dr Valerio Pieroni (Autumn) & Lukas Mayr (Spring) / Classes: various teachers
For further information, send an email message to ueco@essex.ac.uk.

 

Availability
Yes
Yes
No

External examiner

Mr Pedro David Matos Serodio
Mr Teng Ge
Resources
Available via Moodle
Of 188 hours, 184 (97.9%) hours available to students:
0 hours not recorded due to service coverage or fault;
4 hours not recorded due to opt-out by lecturer(s), module, or event type.

 

Further information
Economics

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