Unit information: Macroeconomics for Economics and Finance in 2027/28

Please note: Programme and unit information may change as the relevant academic field develops. We may also make changes to the structure of programmes and assessments to improve the student experience.

Unit name Macroeconomics for Economics and Finance
Unit code ECON20003
Credit points 20
Level of study I/5
Teaching block(s) Teaching Block 4 (weeks 1-24)
Unit director Dr. Gozen
Open unit status Not open
Units you must take before you take this one (pre-requisite units)

ECON10004 Introductory Economics

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

Why is this unit important?

A good understanding of macroeconomic theory provides the tools needed to analyse economies in the real world. This unit builds upon the solid foundation of economic theory developed in year 1, and develops macroeconomic theory at an intermediate level.

How does this unit fit into your programme of study

This unit provides core economic theory, which you will be able to apply and build upon within final year units. The tools you develop in this unit will also be useful beyond your programme of study, and help you understand the economics of the world around you.

Your learning on this unit

Overview of content

In this unit, you will gain the opportunity to develop an understanding of fundamental concepts in modern macroeconomics, such as:

  • Economic growth
  • Modern consumption theory and a dynamic 3-equation macro framework that will allow students to achieve a deeper understanding of the determinants of key macro variables
  • Long-run fiscal policy

How will students, personally, be different as a result of the unit?

Students will develop the tools required to analyse (macro)-economies in the real world, whilst building on the foundations developed in year 1 to prepare students for further units in macroeconomics.

Learning Outcomes

Students will be able to:

  1. formalise macroeconomic problems using models, interpreting the logical structure of how the assumptions lead to the conclusions;
  2. analyse how economies work by using such models to address particular questions and answer policy issues;
  3. compare and contrast different models and to evaluate them theoretically and empirically.

How you will learn

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

How you will be assessed

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

MCQs

Tasks which count towards your unit mark (summative):

  • MCQs - (best 1 of 2) (20%)
  • Exam (2 hours) (80%)

Each assessment assesses all learning outcomes

When assessment does not go to plan:

If students fail the unit such that credit points cannot be awarded at the first attempt, they will be given a reassessment exercise to replace the failed element(s).

These elements will be;

  • 1 MCQ - (20%) assessing combined intended learning outcomes from 2 summative MCQs
  • Exam (2 hours) (80%)

Each assessment assesses all learning outcomes.

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. ECON20003).

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 assessment methods listed in this unit specification are designed to enable students to demonstrate the named learning outcomes (LOs). Where a disability prevents a student from undertaking a specific method of assessment, schools will make reasonable adjustments to support a student to demonstrate the LO by an alternative method or with additional resources.

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.