Run by Marketing: Bangor International College
10 Credits or 5 ECTS Credits
Semester 1 & 2
Organiser: Mrs Laura McKenzie
Overall aims and purpose
The aims of the module are to provide students with a basic introduction to the study of Macroeconomics.by introducing them to relevant economic theories, concepts and terminology. The module acquaints students with the main features of the UK economy and of the UK government’s economic policy. The module further aims to introduce students to the key macroeconomic indicators, for example, GDP per capita, price indices, balance of payments and to consider government aims expressed through fiscal and monetary policies, the desire for economic growth and how policies affect and are affected by rates of inflation, deflation, and unemployment/figures. National goals are viewed in the context of broader economic groupings such as the EU, and the impact of the development of a global market.
This module adds to the knowledge acquired through Microeconomics to provide the appropriate foundation in economic theory and its impact on the policies of national governments in a global environment to enable students to be successful in business-related undergraduate studies.
The main topics covered are the development and main features of the UK economy, the UK government’s current policies in the wake of international crises in the financial sector and the burden of government indebtedness. The module also considers the external influences on government policy, including membership of the EU and explains key economic indicators and their significance in shaping government policy, GDP, RPI, levels of inflation and unemployment, balance of payments.
The module also looks at the drive for economic growth and the role played by fiscal and monetary, demand and supply-side policies and considers the constraints on government freedom of action and interaction with other economies in a global context.
Student has demonstrated a sound, basic knowledge of the subject and achieved a strong enough pass to show a clear ability to cope with the demands of an undergraduate degree programme.
Student has engaged effectively with most of the topics and material associated with this module and has achieved a highly commendable level of achievement, showing the clearest ability to cope with undergraduate level study.
Student has shown sufficient knowledge and understanding of the Macroeconomics studied to achieve a minimum level of pass and so show suitability to engage with study at undergraduate level
Explain the operation of the key macroeconomic indicators in informing and shaping government policies at a national level
Describe and explain the constraints upon a national government’s freedom of action through membership of regional or global organisations such as the EU, G8, WTO
Demonstrate an understanding of key economic theories, concepts and terminology studied
Describe and explain the main features of the UK economy and of the UK government’s current economic policies
|CLASS TEST||Interim class test||
At the mid-point of the module the students sit an interim test on topics related to the elements in this module studied up to that point.
At the end of the module the students work in teams on a topic drawn from material studied in the second half of the module. They divide responsibility between them in responding to a question which requires them to produce a 1000 word report. There is a group mark using specific and task relevant assessment criteria.
|GROUP PRESENTATION||Group presentation||
Students work in the same teams as for the group report and present their findings in a 15 minute group presentation. There is a group mark using specific and task relevant assessment criteria.
Teaching and Learning Strategy
50 hours in seminar style classes – 5 hours per week through a 10-week term
reading time, preparing and taking assessments
- Literacy - Proficiency in reading and writing through a variety of media
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Computer Literacy - Proficiency in using a varied range of computer software
- Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
- Exploring - Able to investigate, research and consider alternatives
- Information retrieval - Able to access different and multiple sources of information
- Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
- Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
- Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
- Teamwork - Able to constructively cooperate with others on a common task, and/or be part of a day-to-day working team
- Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
Subject specific skills
- Demonstrate an understanding and ability to analyse economic issues on a local and international scale
Smith, P. (2019) Economics A (4th Ed.) Pearson Mankiw, N.G. (2019) Macroeconomics (9th edition) Worth Publishers Journals Management Today The Economist Websites www.accaglobal.com www.cima.org
Courses including this module
Compulsory in courses:
- NM1B: BA Business and Law (4 year with Incorporated Foundation) year 0 (BA/BUSLAW1)
- M93B: BA Criminology & Criminal Just (4yr with Incorp Foundation) year 0 (BA/CCJ1)
- WPQB: BA Creative Studies (4 year with Incorporated Foundation) year 0 (BA/CST1)
- LL2B: BA Sociology & Economics (4 yr with Incorporated Foundation) year 0 (BA/ECS1)
- W62B: BA Film Studies (4 year with Incorporated Foundation) year 0 (BA/FLM1)
- PP5B: BA Journalism & Media Studies (4yr with Incorp Foundation) year 0 (BA/JMS1)
- P31B: BA Media Studies (4 year with Incorporated Foundation) year 0 (BA/MS1)
- P3WB: BA Media Stud with Theatre & Perform (4yr with Incorp Found) year 0 (BA/MSTP1)
- L31B: BA Sociology (4 year with Incorporated Foundation) year 0 (BA/S1)
- L41B: BA Social Policy (4 year with Incorporated Foundation) year 0 (BA/SOCP1)
- LL1B: BA Social Policy & Economics (4yr with Incorp Foundation) year 0 (BA/SPEC1)
- NN46: BSc Accounting and Banking (4 year with Incorp Found) year 0 (BSC/ACCB1)
- NN3F: BSc Accounting and Banking year 0 (BSC/ACCBF)
- NL4B: BSc Accounting and Economics (4 year with Incorp Foundation) year 0 (BSC/ACCEC1)
- NL4F: BSc Accounting and Economics year 0 (BSC/ACCECF)
- NN4J: BSc Accounting and Finance (4 year with Incorp Found) year 0 (BSC/ACCF1)
- NN4F: BSc Accounting and Finance year 0 (BSC/ACCFINF)
- L19B: BSc Business Economics (4 year with Incorporated Foundation) year 0 (BSC/BEC1)
- L19F: BSc Business and Economics year 0 (BSC/BECF)
- N39B: BSc Banking and Finance (4 year w Incorporated Foundation) year 0 (BSC/BFIN1)
- N39F: Banking and Finance year 0 (BSC/BFINF)
- N20B: BSc Business Management (4 year with Incorp Foundation) year 0 (BSC/BM1)
- N3NF: BSc Business Management with Accounting year 0 (BSC/BMAF)
- NN2B: BSc Business Man & Finance (4 year with Incorp Foundation) year 0 (BSC/BMF1)
- N20F: BSc Business Management year 0 (BSC/BMFF)
- NN2F: BSc Business Management and Finance year 0 (BSC/BMFINF)
- N2NC: BSc Business Man & Marketing (4 yr with Incorp Foundation) year 0 (BSC/BMM1)
- N5NF: BSc Business Management and Marketing year 0 (BSC/BMMF)
- N10B: BSc Business Studies (4 year with Incorporated Foundation) year 0 (BSC/BS1)
- NN1J: BSc Business Studies and Finance (4 year with Incorp Found) year 0 (BSC/BSFIN1)
- NN1K: BSc Business Studies & Marketing (4 year with Incorp Found) year 0 (BSC/BSMKT1)
- L11B: BSc Financial Economics (4 year w Incorporated Foundation) year 0 (BSC/FINEC1)
- L11F: BSc Financial Economics year 0 (BSC/FINECF)
- N50B: BSc Marketing (4 year with Incorporated Foundation) year 0 (BSC/MKT1)
- N50F: BSc Marketing year 0 (BSC/MKTF)
- N2NL: BSc Management with Accounting (4 year with Incorp Found) year 0 (BSC/MWACC1)
- C88B: BSc Psychology w Clin & Health Psy (4yr with Incorp Found) year 0 (BSC/PHS1)
- C81B: BSc Psychology (4 year with Incorporated Foundation) year 0 (BSC/PS1)
- C83B: BSc Psychology with Neuropsychology (4yr with Incorp Found) year 0 (BSC/PSYN1)
- C82B: BSc Psychology with Business (4yr with Incorp Foundation) year 0 (BSC/PWB1)
- M11B: LLB Law (4 year with Incorporated Foundation) year 0 (LLB/L1)
- M1NB: LLB Law with Accounting & Finance (4yr with Incorp Found) year 0 (LLB/LAF1)
- MN1B: LLB Law with Business (4year with Incorporated Foundation) year 0 (LLB/LBS1)
- M1LB: LLB Law with Social Policy (4 yr with Incorp Foundation) year 0 (LLB/LSP1)
- M1MB: LLB Law with Criminology (4 yr with Incorporated Foundation) year 0 (LLB/LWCR1)