AF5040 - Intermediate 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). Lectures are the primary medium used to deliver basic knowledge and the subject material required to enable students to meet module learning outcomes. Tutorials will be used to
develop understanding and knowledge by reinforcing subject material and exploring relevant issues with material distributed in advance.

Tutorials will provide an opportunity for you and the teaching team to interact and discuss the material addressed in module with other students. You will be encouraged to actively engage in exploring and researching the subject individually as well as within small groups or teams. The knowledge gathered in this module will enable you to understand key concepts, principles and events in the macroeconomic environment.

The module will involve both directed and independent learning supported by the use of e-Learning portal. Directed learning plays a key part in the achievement of the module learning outcomes and provides an opportunity for self-assessment of your progress throughout the semester. Independent learning may include a range of activities including pre-reading, preparation for seminars. Assessments will include tests and an assignment, with the latter requiring you to engage with scholarly sources to evaluate and comment upon contemporary issues in macroeconomics. Both directed and independent learning will emphasize on building up from concepts and ideas introduced in Year 1 and their application in economic analysis.

You will be supported by the module teaching team, who will deliver the content, answer your questions about the material, and assist you in preparing for tests and in the completion of your assignment. You are encouraged to make use of consultation times to discuss learning materials. Also, you will be supported by the e-Learning portal through which relevant readings and notes will be disseminated; notes are an
aide to the prescribed textbooks and do not constitute the primary lecturing material. Supplementary readings will also be disseminated through the e-Learning portal. It is expected that prepare the material covered in each sessions in advance.

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 which can be
applied to a range or problems and are relevant in numerous contexts (MLO1)
• You will develop an understanding of economics within the context of real world economic events. (ML02).

Intellectual / Professional skills & abilities:
• You will develop the ability to apply economic principles and reasoning to a variety of applied topics, which include economic, social and environmental policy. (MLO3)

Personal Values Attributes (Global / Cultural
awareness, Ethics, Curiosity) (PVA):
• You will develop analytical skills and have a firm grasp on theoretical frameworks that will permit you to
analyse and abstract a range of issues, which may be economic and noneconomic in nature. (MLO

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 individual assignment of 2,500 words (50% weight) during the first half of the semester. The assignment, in the form of an essay, will require students to use relevant macroeconomics theories to
analyse and discuss one from a range of contemporary macroeconomic issues. The assignment will be released in Week 3 and due by Week 11 in the semester. (MLO1; MLO2; MLO3; MLO4)

2. A 2 hour written exam (50% weight). The exam will test critical analysis and application stemming from a firm grasp of economic concepts covered in the module. (MLO1; MLO2; MLO3; MLO4)

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Expand and further deepen your understanding of macroeconomic concepts and conventional macroeconomic thinking with this intermediate module. You’ll advance your knowledge of macroeconomic theories and how to apply them for effective economic analysis, and you’ll gain a greater insight into key issues such as monetary and fiscal policy, unemployment, business cycles and international trade. The module will also expose you to empirical macroeconomic research, covering key contemporary events such as the impact of the 2008 Financial Crisis and implications of the recent COVID19 pandemic on national economics and the world economy. By expanding and deepening your knowledge of macroeconomics, you’ll further develop and refine your analytical skills and also the ability to understand complex contemporary macroeconomics topics.