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Unit information: Macroeconomics with Extended Essay in 2023/24

Unit name Macroeconomics with Extended Essay
Unit code EFIM30053
Credit points 30
Level of study H/6
Teaching block(s) Teaching Block 1 (weeks 1 - 12)
Unit director Dr. Marion Prat
Open unit status Not open
Units you must take before you take this one (pre-requisite units)

None

Units you must take alongside this one (co-requisite units)

None

Units you may not take alongside this one

None

School/department School of Economics
Faculty Faculty of Social Sciences and Law

Unit Information

This unit is only available for students on the Graduate Diploma

Why is this unit important?

The unit provides the tools to study important macroeconomic questions, incorporating recent insights into how the economy works. Students will learn how macroeconomic facts are constructed and will gain a deeper understanding of economic concepts and policies through the lenses of modern macroeconomic theory.

The main topics to be studied will be:

i. Long-run economic growth and growth policies

ii. Long-run fiscal policy

iii. Business cycle fluctuations: consumption, investment and the consequences of credit market failures

iv. Inflation and unemployment

v. Short-run stabilisation fiscal and monetary policies

Your learning on this unit

Students will know how to describe and analyse some of the most important current macroeconomic issues. They will understand both that (i) macroeconomic models are simplifications of a complicated economy and (ii) that such models are only provisionally correct, since they are dependent on empirical verification. They will be able to produce and summarise macroeconomic facts, presenting them in graphs and tables, and to discuss formal economic arguments using words and diagrams.

Learning Outcomes

Students will be able:

1. To use models to formalise macroeconomic problems, interpret their logical structure, taking into account the role of assumptions;

2. To use economic models to answer hypothetical questions about the operation of the macroeconomy and to draw appropriate policy conclusions;

3. To understand the conclusions/measurement problems and methods used (albeit without a technical knowledge) to measure macroeconomic facts and to evaluate economic models.

How you will learn

Teaching will be delivered through a combination of large and small group classes, supported by online resources

Tasks which help you learn and prepare you for summative tasks (formative):

Students will submit and receive feedback on a draft of Coursework 1.

How you will be assessed

Tasks which count towards your unit mark (summative):

Coursework 1 (1,200 words) (40%)

Coursework 2 (2,500 words) (60%)

Both assessments assess all learning outcomes.

When assessment does not go to plan

Students are not normally permitted reassessment on the Graduate Diploma. Where reassessment is offered, it will be through a single piece of coursework (2,500 words).

Resources

If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.

If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIM30053).

How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours of study to complete. Your total learning time is made up of contact time, directed learning tasks, independent learning and assessment activity.

See the University Workload statement relating to this unit for more information.

Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit. The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates within the Regulations and Code of Practice for Taught Programmes.

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