Form 20 Heriot-Watt University - Module Descriptor Template (RAY)

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Form 20

Heriot
-
Watt University
-

Module Descriptor Template (RAY)

Version 3.0 (2007/2008)


Module Title

Introductory Macroeconomics

School

School of Management and Languages

On or Off
-
Campus

On

Module

Co
-
ordinator

M/s Valerie Dickie

SCQF
Level

7

Module
Code

C27BA2

Semester

2

Credits

15


1

/
2

1.

Pre
-
requisites

None


2.

Linked Modules

(specify if synoptic)

None


3.

Excluded Modules

Introductory Economics (Elective), Business Economics


4.

Replacement Module


Code:


Date Of Replacement:



5.


Availability as an
Elective


Yes


No


6.

Degrees for which this
is a core module

Economics, Economics and Marketing, Business and Economics
, Economics and Finance, Economics and Accountancy, Economics
and Business Law


and other SML degrees.

7.

Aims


The aim of this module is to equip students with knowledge and understanding of the fundamental principles and c
oncepts of macroeconomics. By the end
of the module students should be able to apply their knowledge and understanding in the analysis of a range of economic polic
y problems.



8.

Syllabus


Introduction
-

the main issues, the national economy


circular fl
ow of income.

Measuring national income, output and expenditure.

Inflation

Indices


CPI, RPI ,GDP deflator

Aggregate Expenditure Model

The autonomous expenditure multiplier

Money defined
-

functions of money, demand and supply.

Monetary institutions


t
he central bank and financial intermediaries

Aggregate Demand and Supply Model

䙩scal and monetary policy.

Unemployment and inflation.

The open economy


financing international trade


the balance of payments and exchange rates

The macroeconomic debate
today.


9.

Learning Outcomes (HWU Core Skills: Employability and Professional Career Readiness)

Subject Mastery

Understanding, Knowledge and Cognitive Skills

Scholarship, Enquiry and Research (Research
-
Informed Learning)

X


Form 20

Heriot
-
Watt University
-

Module Descriptor Template (RAY)

Version 3.0 (2007/2008)


Module Title

Introductory Macroeconomics

School

School of Management and Languages

On or Off
-
Campus

On

Module

Co
-
ordinator

M/s Valerie Dickie

SCQF
Level

7

Module
Code

C27BA2

Semester

2

Credits

15


2

/
2




Knowledge and understanding of

-

key concepts and principles of macroeconomics

-

economic theory, models of the economy and methods of elementary analysis

-

how to apply economic reasoning to policy issues in a critical manner

Development of

-

general study and enquiry skills

-

the abi
lity to apply knowledge and skills to the solution of elementary theoretical and applied problems in economics

-

the ability to deploy skills of abstraction, simplification and analysis


Personal Abilities

Industrial, Commercial & Professional Practice

A
utonomy, Accountability & Working with Others

Communication, Numeracy & ICT


The module aims to develop:

-

the ability to identify and assess key macroeconomic problems and policy options.

-

familiarity with the possibility that many economic problems m
ay admit of more than one approach, and may have more than one
solution

-

the ability to work autonomously and collaboratively

-

the ability to draw on text
-
based, graphical and statistical sources of information (sourcing and gathering information)

-

the

ability to handle data and to use it in analysing simple economic problems

-

the ability to communicate the results of economic analysis


10.

Assessment Methods

11.

Re
-
assessment Methods

Method

Duration of Exam

(if applicable)

Weighting (%)

Synoptic modules?

Method

Duration of Exam

(if applicable)

Examination

2 hours

60%


Examination

2 hours

Mid semester test

1 hour

20%




Coursework


20%










12.

Date and Version

Date of Proposal

February 2008

Date of Approval by
Sch
ool Committee


Date of
Implementation


Version
Number