AF7019 - Advanced Microeconomics and Macroeconomics: Theory and Practice

What will I learn on this module?

This module will equip you with an advanced and rigorous training in core concepts and theories of microeconomics, macroeconomics and related policy debates. You will be introduced to the latest developments in economic theory and the application of these theoretical paradigms to real world economic problems. The module aims to expose you to a wide range of models and approaches while ensuring that you have an in-depth understanding of contemporary literature to conduct independent research in the future. The module will be divided into two parts. The first part will introduce you to advanced microeconomics models. The second part will focus on advanced theories in applied macroeconomics. You will acquire the methodological tools and analytical skills for analysing economic models along with their empirical and policy applications.

How will I learn on this module?

The module will be delivered through a combination of lectures and seminars. The lectures will introduce you to the theoretical models in advanced microeconomics and macroeconomics. Lectures are the primary medium used to deliver subject materials required to enable you to meet the module learning outcomes and will draw on high quality research in applied areas of microeconomics and key policy debates in macroeconomics. The emphasis will be on having high levels of engagement in understanding theory and analysing real world economic problems.



The seminars will be used to reinforce knowledge and critical understanding of advanced theories and principles introduced in lectures, through problem sets and pre-assigned readings. The seminar materials will be distributed in advance on the e-Learning platform. The seminars will involve discussion of these problem sets, group work and class presentations based on pre-assigned readings. Seminars will also provide you with an opportunity to interact with the teaching team and gain one to one feedback.


The module will involve both directed and independent learning. 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. Directed learning will involve a range of activities including pre-reading, preparation for seminars, solving problem sets and participation in discussion boards set up on the e-Learning platform.



You will receive regular formative feedback through individual and group activities during the seminars including discussion of journal articles, solving problem sets and individual and group presentations. Two of the tutorials will take place in the form of feedback surgeries. In these sessions, you will be provided with the opportunity to receive individual feedback on pre-assigned work. Additionally, there will be bi-weekly quizzes available on the e-Learning platform to ensure that the students are engaging with and understanding the course content taught on the module.



The summative assessment will require you to critically engage with a wide range of academic sources. There will be an individual assignment (addresses ML02, ML03, ML04) and an end of semester exam (addresses ML01 and ML02). Critical reflection on knowledge, experience and practice underpins the teaching and learning philosophy of this module.

How will I be supported academically on this module?

The module is supported by the e-Learning platform, which includes the Teaching and Learning Plan, lecture materials, seminar tasks, detailed guidance on the assessment, as well as materials for independent study. The module tutor will ensure that all relevant materials and instructions are readily accessible to you. All lectures will be recorded and uploaded to the e-Learning platform to support the consolidation and development of your knowledge and understanding. An electronic reading list including core materials to support your lectures/seminars and a comprehensive range of academic journal articles relevant to your studies will be available through the e-Learning platform.



Lectures and seminars are designed to be interactive and will utilise the latest educational technology to ensure your learning experience is useful and enjoyable. Seminars are designed to provide you with continuous relevant and timely feedback to support your learning.



In addition to the lectures and seminars, the teaching team will maintain dedicated office hours where you can drop in and ask any questions pertaining to the module.



There will be opportunities for receiving formative feedback through online quizzes, feedback surgeries and discussion of a mock examination paper.

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: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

What will I be expected to achieve?

Knowledge & Understanding:

Demonstrate a thorough understanding of advanced microeconomic and macroeconomic models, their applications, and limitations (MLO1).



To equip students with the relevant analytical skills and methodological tools to analyse complex economic issues and related policy debates (MLO2).





Intellectual / Professional skills & abilities:

Awareness of how microeconomic analysis and macroeconomic theories can be used to design, guide, and interpret relevant economic and industrial policies (MLO3).





Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):

Develop in students’ problem solving, numeracy, research and critical thinking skills that will be valuable in employment and self-employment (MLO4).

How will I be assessed?

Formative Assessment

The formative assessment will comprise of discussion of questions and problem sets activities. There will be individual and group discussions of the answers to these problem sets and questions during seminars. This will encourage your active participation in the learning process throughout the semester. The e-Learning platform will be used to permanently host these tasks to ensure that you can always access the information as required.







Summative Assessment

This module will be assessed through a combination of:

A project weighted at 40%. (MLO3, MLO4)

An exam weighted at 60%. (MLO1, MLO2)

Pre-requisite(s)

None

Co-requisite(s)

None

Module abstract

This module will provide you with the skills and advanced knowledge about both the microeconomic and macroeconomic concepts which have become increasingly necessary to understand public policy, business issues and global experiences. You will become familiar with a range of cutting-edge economic analytical models with emphasis on their application to a wide variety of problems. You will engage with state-of-the-art research and actively work on tasks designed to provide you with insights on the purpose of economic theories for interpreting real-world economic issues. The assessment strategy on this module will closely mirror tasks that graduates are expected to undertake in employment and will support you in your future career.

Course info

Credits 20

Level of Study Postgraduate

Mode of Study 1 year full time

Department Newcastle Business School

Location City Campus, Northumbria University

City Newcastle

Fee Information

Module Information

All information on this course page is accurate at the time of viewing.

Our Campus based courses starting in 2022 and 2023 will be delivered on-campus with supporting online learning content. We continue to monitor government and local authority guidance in relation to Covid-19 and we are ready and able to adjust the delivery of our education accordingly to ensure the health and safety of our students and staff.

On-campus contact time is subject to increase or decrease in line with any additional restrictions, which may be imposed by the Government or the University in the interest of maintaining the health and safety and wellbeing of students, staff, and visitors. This could potentially mean increased or fully online delivery, should such restrictions on in-person contact time be required.

 

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