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EC1506: THE GLOBAL ECONOMY (2017-2018)

Last modified: 24 Jul 2017 14:35


Course Overview

This course is an introductory course in macroeconomics  where we study the behaviour of the economy as a whole. Whereas microeconomics focuses on individual markets, macroeconomics addresses the “big issues” such as unemployment, inflation, economic growth, and financial crises. Macroeconomics is a lively subject, full of discussion and debate, as economists and policymakers take different views on macroeconomic issues, their causes and appropriate policy responses.  Issues such as: Is the economy growing? What causes unemployment and how can we reduce it? How can we avoid recessions? When is inflation a problem? Are banks lending too much?

Course Details

Study Type Undergraduate Level 1
Session Second Sub Session Credit Points 15 credits (7.5 ECTS credits)
Campus None. Sustained Study No
Co-ordinators
  • Dr Heather Dickey

Qualification Prerequisites

  • Either Programme Level 1 or Programme Level 2

What courses & programmes must have been taken before this course?

  • Any Undergraduate Programme (Studied)

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

No

Course Description

What are the causes of the current financial crisis and what can governments across the globe do about it? Why is it that certain countries have experienced rapid growth in incomes over the past century whereas others are stuck in severe poverty? Why do some nations have high rates of inflation and others stable prices or deflation? Why is unemployment low in some countries but very high in others? Why do all countries experience periods of economic recession and depression and how can government reduce the size of the associated fluctuations in incomes and employment?

This module, which looks at the behaviour of the economy as a whole, tries to answer these and other questions. This course introduces students to macroeconomic theory and policy. This will enable students to understand the determinants of the level of national income, the overall growth rate of the economy, unemployment and the rate of inflation as well as the role of government in influencing these variables.

Degree Programmes for which this Course is Prescribed

  • Bachelor of Laws with Options in Economics (with Honours)
  • Economics Joint
  • Economics Major
  • Finance Joint
  • MA Accountancy-Economics
  • MA Accountancy-Finance
  • MA Business Management - Finance
  • MA Business Management- Economics
  • MA Business Management-Real Estate
  • MA Economics
  • MA Real Estate
  • Property Joint

Contact Teaching Time

76 hours

This is the total time spent in lectures, tutorials and other class teaching.

Teaching Breakdown


Assessment

1st Attempt:

2-hour examination (70%)

5 x online MC quizzes each constituting 6% of overall mark (30% in total) (30%)

 

Resit:

1 two-hour written examination (100%).

Formative Assessment

This will take place via on-going discussions in tutorials and via mock computer quizzes.

Feedback

A written feedback sheet is used for both the essay and report and this explains why students received a particular mark, outlines the strengths and weaknesses of the essay, and make suggestions as to how the student might improve future coursework submissions. 

On a less formal basis, via verbal feedback during tutorial discussions, and after tutorial presentations.

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