AF7019 - Advanced Microeconomics and Macroeconomics: Theory and Practice

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.

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.

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)

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).

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)

None

None

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.