Overview

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.

Assessment Strategy

-threshold -Grade DStudent 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

-good -Grade BStudent 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.

-excellent -Grade AStudent 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.

Learning Outcomes

• Demonstrate an understanding of key economic theories, concepts and terminology studied

• 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

• Describe and explain the main features of the UK economy and of the UK government’s current economic policies

• Explain the operation of the key macroeconomic indicators in informing and shaping government policies at a national level