EC1001 Macroeconomics

Academic year

2024 to 2025 Semester 2

Further information on which modules are specific to your programme.

Key module information

SCOTCAT credits

20

The Scottish Credit Accumulation and Transfer (SCOTCAT) system allows credits gained in Scotland to be transferred between institutions. The number of credits associated with a module gives an indication of the amount of learning effort required by the learner. European Credit Transfer System (ECTS) credits are half the value of SCOTCAT credits.

SCQF level

SCQF level 7

The Scottish Credit and Qualifications Framework (SCQF) provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Availability restrictions

There are no availability restrictions on first-year, visiting, and upskilling students. The module is available to other students studying in second year and above (including direct entrants to second year), but only up to a limit of 480 students in total enrolled on the module. If spaces are available at the end of the main advising period (after Wednesday in Orientation Week), a random ballot will be held for students in second year and above who have enrolled on the module. Any student who is unsuccessful in the ballot will be contacted and asked to choose an alternative module.

Planned timetable

2.00 pm Mon, Tue, Thu

This information is given as indicative. Timetable may change at short notice depending on room availability.

Module coordinator

Dr V Prasad

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module Staff

Vivek Prasad

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module description

This module is designed to equip you with a fundamental knowledge of macroeconomics. On completing this module you should understand the basic subject matter and framework of macroeconomic analysis, and you should be able to use simple models to analyse such issues as the determinants of economic growth, unemployment, inflation and business cycles.

Relationship to other modules

Anti-requisites

YOU CANNOT TAKE THIS MODULE IF YOU TAKE EC1004

Assessment pattern

2-hour Written Examination = 50%, Coursework = 50%

Re-assessment

2-hour Written Examination = 100%

Learning and teaching methods and delivery

Weekly contact

30 hours of lectures over 10 weeks, 1-hour tutorial (x 5 weeks).

Scheduled learning hours

35

The number of compulsory student:staff contact hours over the period of the module.

Guided independent study hours

165

The number of hours that students are expected to invest in independent study over the period of the module.

Intended learning outcomes

  • Know how the main macroeconomic variables (output, economic growth, inflation, unemployment) are defined and measured
  • Know how the economy-wide market for labour determines wages, employment, and the distribution of income
  • Know how credit, money, and banks expand opportunities for mutual gain, and the factors that limit their capacity to accomplish this
  • Know how economies fluctuate between booms and recessions
  • Know how governments can moderate costly fluctuations in employment and income
  • Know how the rate of unemployment and the level of output in the economy affect inflation, the challenges this poses to policymakers, and how this knowledge can support effective policies to stabilize employment and incomes