EC114-Introductory Macroeconomics

Module Provider: School of Politics, Economics and International Relations
Number of credits: 20 [10 ECTS credits]
Level:4
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites: GCSE Maths Level 6 or above
Co-requisites: EC113 Introductory Microeconomics
Modules excluded: EC103 Economics for Construction and Engineering and IC103 Introductory Economics for Business and Finance and AP1EE1 Economics 2 and AP1EE3 Economics 1
Current from: 2021/2

Module Convenor: Dr Mark Guzman
Email: m.g.guzman@reading.ac.uk

Type of module:

Summary module description:

Introductory Macroeconomics is a first course in understanding what economists consider to be a nation’s economy.Ìý It is designed to provide you with a general introduction to the basic concepts and models used by economists to comprehend the actual world in which you live and the general discussions found in the media and in political discourse.ÌýÌý

Aims:

We will focus on five primary areas: economic growth, inflation, unemployment, interest rates, and government policy.Ìý In particular, you should develop a clearer understanding of the specific determinants of growth, the causes of unemployment and inflation and also the importance of interest rates in the economy.Ìý In addition, you will begin to understand the interrelationship between these macroeconomic variables and government policy.

Assessable learning outcomes:

Students should be able to describe the five major concepts in macroeconomics. In addition they should have a basic understanding of how they are related and also the role for fiscal and monetary policy in shaping macroeconomic outcomes. Finally, they should be able to use the above to carry out basic analysis of practical and policy issues related to the macroeconomy.

Additional outcomes:

Students will be required to complete coursework such as problem sets, tests, etc. In the process of completing these types of assignments, they must learn the skills required to apply theoretical knowledge to real world situations.

Outline content:

This course has been broken down into four parts.Ìý The first part of the course focuses on basic concepts and definitions; the second part develops the theory underlying short-run fluctuations in the economy; while the third part looks at the long run.Ìý Finally, we will explore the impact of international trade on an economy.ÌýÌý

Brief description of teaching and learning methods:

Detailed guidance on the topics covered will be provided in the lectures. Weekly classes will cover regular exercise material based on lecture topics and will provide time for students to ask questions about the lecture material. Students are required to do exercises corresponding to each topic, to read a significant amount of related information, and to undertake research using the library, internet, etc.