AF6040 - Advanced Macroeconomics

What will I learn on this module?

This module will deepen your understanding of macroeconomic concepts and conventional macroeconomic thinking. As this is an advanced course, the emphasis is on both critical thinking and practical application of concepts and frameworks in the analysis of contemporary macroeconomics and policy issues. During the module, you will engage extensively with research in macroeconomics. By completing this module, you should be able to use the knowledge gained to provide a critical analysis of global and significant macroeconomic events.

The topics covered will include:
• A Recap of Intermediate Concepts;
• Growth, Capital Accumulation and Technological Progress;
• Goods and Financial Markets – Extensions;
• Output, Interest Rates and Exchange Rates;
• Exchange Rate Regimes;
• The Neutrality of Money Theorem;
• Financial Markets and Expectations;
• Fiscal and Monetary Policy;
• Macroeconomic Growth Theory and Growth Cycles;
• The Developmental State and Industrial Policy.

How will I learn on this module?

You will be supported by a teaching and learning plan (TLP), which outlines the formal sessions, together with tutor-directed study and independent reading and research. The module will be taught through lectures (24 hours) and tutorials (12 hours). The lectures are the primary medium used to deliver basic knowledge and 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. Seminars 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 will engage in activities
and tasks that will enable you to fully understand and reflect upon a wide range of practical issues and themes in the macroeconomics field.

The module will involve both directed and independent learning. The emphasis will be upon developing a critical understanding of the concepts covered and their relevance to the real world. 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 will include a
range of activities including pre-reading, research and preparation for tutorials.

The module will be supported by the use of e-learning portal. The assessment will include a research-based assignment, with the latter requiring you to engage with scholarly sources to evaluate and comment upon contemporary issues in macroeconomics and to show a critical understanding of the concepts and their relevance.

How will I be supported academically on this module?

You will be supported by the module teaching team who will deliver the content, answer your questions about the material, 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 notes will be disseminated. It is expected that you pre-read each
chapter there will be covered. Supplementary readings may also be disseminated through the e-learning portal.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at:
(Reading List service online guide for academic staff this containing contact details for the Reading List team –

What will I be expected to achieve?

Knowledge & Understanding:
• You will gain a comprehensive and deep knowledge and understanding of economic concepts, principles and tools (MLO1).
• You will gain the ability to crucially assess policy recommendations in respect to theoretical frameworks and empirical evidence (MLO2).

Intellectual / Professional skills & abilities:
• A deep and critical understanding of analytical methods, both theory and model-based and the ability to discuss, analyse and evaluate economic events and their impact on the world (MLO3).

Personal Values Attributes (Global / Cultural
awareness, Ethics, Curiosity) (PVA):
• You will develop advanced and competent analytic skills and the ability to gain insight into complex issues

How will I be assessed?

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 MCQ test (40% weight) testing students grasp of fundamental concepts. (MLO1; MLO2; MLO3; MLO4).

2. A written 2 hour exam (60% weight) at the end of the module. The exam will test specific areas of the module, relating to economic growth, expectations, open market economics and policy. The exam
will comprise discursive questions which require the application of economic theory. (MLO1; MLO2; MLO3; MLO4)





Module abstract

This module will deepen your understanding of macroeconomic concepts, stimulating you to go beyond conventional macroeconomic thinking. As this is an advanced course, the emphasis is on both critical thinking and practical applications of macroeconomics concepts and frameworks in the analysis of contemporary economic and policy issues. The content of this module will increase your knowledge of macroeconomic theories and practice and their implications for economies, markets and societies worldwide. During the module, you’ll engage extensively with research in macroeconomics, developing your critical thinking and independent research skills. Once finished, you should be able to apply your knowledge to provide a thorough analysis of global and significant macroeconomic events.

Course info

UCAS Code L110

Credits 20

Level of Study Undergraduate

Mode of Study 3 years full-time or 4 years with a placement (sandwich)/study abroad

Department Newcastle Business School

Location City Campus, Northumbria University

City Newcastle

Start September 2024 or September 2025

Fee Information

Module Information

All information is accurate at the time of sharing. 

Full time Courses are primarily delivered via on-campus face to face learning but could include elements of online learning. Most courses run as planned and as promoted on our website and via our marketing materials, but if there are any substantial changes (as determined by the Competition and Markets Authority) to a course or there is the potential that course may be withdrawn, we will notify all affected applicants as soon as possible with advice and guidance regarding their options. It is also important to be aware that optional modules listed on course pages may be subject to change depending on uptake numbers each year.  

Contact time is subject to increase or decrease in line with possible restrictions imposed by the government or the University in the interest of maintaining the health and safety and wellbeing of students, staff, and visitors if this is deemed necessary in future.


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