AF4040 - Introduction to Macroeconomics

You will be supported by a teaching and learning plan (TLP), which outlines the formal sessions, together with tutor-directed study and independent reading. The module will be taught through lectures (24 hours) and tutorials (12 hours). The lectures are the primary medium used to deliver students the basic knowledge and the subject material required to meet module learning outcomes.

Tutorials will be used to deepen understanding and knowledge of the material addressed during lectures, and will provide an opportunity for you and the teaching team to interact and discuss the material with other students. The emphasis will be on high levels of participation both individually and within small groups or teams. You are expected to engage in activities that will increase your ability to apply the key concepts
and principles on practical events in the macroeconomics field.

The module teaching team, will deliver the content, will answer your questions about the material presented and discussed during sessions, and will assist you in preparing your assignments. Core and supplementary readings will also be disseminated through the e-Learning portal. You are encouraged to make use of consultation times to discuss learning materials. Additional notes will also made available on the -
Learning portal and will serve as an aide to the prescribed textbooks. Relevant material will be provided in advance to each sessions; it is expected that you prepare each sessions appropriately.

All modules at Northumbria include a range of reading materials that students are expected to engage with. Online reading lists (provided after enrolment) give you access to your reading material for your modules. The Library works in partnership with your module tutors to ensure you have access to the material that you need.

Knowledge & Understanding:
• You will gain knowledge and understanding of economic concepts, principles and tools. (MLO1)
• You will understand the application of relevant economic principles and reasoning to a variety of applied topics. (MLO2)

Intellectual / Professional skills & abilities:
• You will develop generic analytical skills which will be of value in employment or self-employment. (MLO3)

Personal Values Attributes (Global / Cultural
awareness, Ethics, Curiosity) (PVA):
• You will develop an appreciation of the economic and welfare dimensions of wider social, political and environmental issues. (MLO4)

Formative Assessment:
Formative assessment will take place through directed questions during seminars. There will be a discussion of substantive areas in the seminars after each lecture so that you can obtain direct feedback on any questions you may have on the module content and the assigned tasks.

Summative Assessment:
The module is assessed by:

1. A 45 minute MCQ test comprising of 20 questions (40% weight) in Week 9 testing your grasp of fundamental concepts. (MLO1; MLO2; MLO3; MLO4)

2. A 2 hour written exam (60% weight), comprising three questions, two of which must be answered, requiring critical analysis and application theory. The exam covers content from course materials and requires a thorough understanding of macroeconomics theories and themes treated during the
module, as well as ability to apply theoretical frameworks to real-world scenarios. (MLO1; MLO2; MLO3; MLO4)

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This module explores how macroeconomic events and crises in one country can have a huge impact on people’s lives around the world. It will give you a strong grounding in macroeconomic theory, introducing you to key concepts and conventional thinking, enabling you to understand how macroeconomic issues affect individual nations and the global economy. You’ll explore the impact of economic growth and decline, the role of aggregate supply and demand, the effects of employment and unemployment on the labour market, and the mechanisms behind fiscal and monetary policies. You’ll gain a deep awareness and understanding of how macroeconomic issues affect everyday events, ideal for further study or future work in this area.