Module BIC-0019:
Macroeconomics

Module Facts

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.

Course content

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 Criteria

good

Grade B

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.

excellent

Grade A

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.

threshold

Grade D

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

Learning outcomes

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

  2. 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

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

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

Assessment Methods

Type Name Description Weight
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.

40
GROUP PRESENTATION Group report and presentation

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 and present their findings in a 15 minute group presentation. There is a group mark using specific and task relevant assessment criteria.

60

Teaching and Learning Strategy

Hours
Seminar

50 hours in seminar style classes – 5 hours per week through a 10-week term

50
Private study

reading time, preparing and taking assessments

50

Transferable skills

  • 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

1 Critical thinking 2 Powers of selection and analysis of material studied 3 Written and oral communication 4 Researching, writing and delivering a presentation 5 Team working

Resources

Reading list

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: