Unit name | Economics for Finance and Management |
---|---|
Unit code | ECONM1014 |
Credit points | 15 |
Level of study | M/7 |
Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
Unit director | Professor. Grout |
Open unit status | Not open |
Pre-requisites |
None |
Co-requisites |
None |
School/department | School of Economics |
Faculty | Faculty of Social Sciences and Law |
Macroeconomics is the analysis of aggregate or average economic variables. It analyses how the various broad sectors of the economy - the goods market, the financial sector and the labour market - interact to create the movements in output, unemployment, inflation and interest rates that we observe in the economy. In this unit we explain how the economy's total level of desired spending is determined. This involves explaining household consumer spending and firms' capital investment expenditure. It also explains why people hold financial assets such as money; how the quantity of money is determined; and how all these decisions interact with aggregate supply decisions in the short and medium term.
To give students an understanding of how the macroeconomic phenomena we observe can be seen as the result of the interaction of the decisions made by in the various sectors of the economy; to ensure that students understand the following key macroeconomic concepts:
On successful completion of the micro component, the student will have a good knowledge of current theories and skills in the use of analytic tools in modern microeconomics; the student will be able to apply the analytic tools at an intermediate level; the course will ensure that students understand the following key concepts:
Lectures (8 in Macro and 8 in Micro), Exercise Lectures (3) and Classes (4)
Formative assessment: 2 exercises (1 Macro and 1 Micro) and one Essay
Summative assessment: 3-hour closed book written exam which will assess the intended learning outcomes specified above.