ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title MACROECONOMICS II
Code ECON224
Coordinator Dr L Liu
Economics
Lin.Liu@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2019-20 Level 5 FHEQ Second Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 24

   5

     5

 34
Timetable (if known) 120 mins X 1 totaling 24
  		  60 mins X 1 totaling 5
  		    30 mins X 1 totaling 5
  		 
Private Study 116
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Assessment 1: Written Unseen Examination Assessment Type: Written Exam Duration: 2 Hours Weighting: 100% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty app  2 hours    60       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Assessment 3: Video and Transcript Assessment Type: Practical Assessment Duration: 5 minutes maximum Weighting: 20% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty  5 minutes maximum    20       
Assessment 2: Weekly online tests Assessment Type: Practical Assessment Duration: 30 minutes per quiz (10 quizzes) Weighting: 20% Reassessment Opportunity: Yes Penalty for Late Submission: Stand  30 minutes per quiz     20       

Aims

To further extend the study of macroeconomic theory at the intermediate level by analysing business-cycle fluctuations in closed and open economies using the real business cycle model and also the new Keynesian model that are based on solid microfoundation

Learning Outcomes

(LO1) Understand the microfoundation of modern macroeconomic models

(LO2) Explain the implications of macroeconomic disturbances and fiscalpolicies using the real business cycle model

(LO3) Contrast the different implications of monetary policies in thereal business cycle model and in the new Keynesian model.

(LO4) Analyse business cycles in the open economy.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Communication skills

(S5) IT skills

(S6) International awareness

(S7) Lifelong learning skills

(S8) Ethical awareness

(S9) Teamwork

(S10) Organised and able to work under pressure

Teaching and Learning Strategies

Teaching Method: Lecture
Scheduled Directed Student Hours: 24
Attendance Recorded: Yes

Teaching Method: Tutorial
Scheduled Directed Student Hours: 5
Attendance Recorded: Yes

Self-Directed Learning Hours: 121
Description: These independent learning hours are aimed at supporting the directed student learning. The module leader will provide guidance in the form of suggested readings and topics to examine with the expectation that students are well prepared to contribute to the tutorial activities and to understand the content of lectures. Self-Directed Learning will include research activity, developing academic writing skills, and wider reading to support the module

Costs Information:
There are no specific costs attached to this module.

There are the following non-modular requirements:
ECON123 and ECON223

This module is a pre-requisite for the following modules:
ECON306, ECON343, ECON346, ECON363, and ECON364

Skil ls/Other Attributes Mapping

Skills / attributes: Ethical awareness
How this is developed: Taught
Mode of assessment (if applicable): Examination

Skills / attributes: Lifelong learning skills
How this is developed: Ability to critically appraise the work of others
Mode of assessment (if applicable)

Skills / attributes: International awareness
How this is developed: Taught
Mode of assessment (if applicable): Examination and Online Tests

Skills / attributes: IT skills
How this is developed: Accessing course materials and assessments via Vital, producing an 'issue' video.
Mode of assessment (if applicable): Online Tests and Video submission

Skills / attributes: Communication skills
How this is developed: Ability to raise questions on the materials, Producing an 'issue' video
Mode of assessment (if applicable): Examination and Video submission

Skills / attributes: Commercial awareness
How thi s is developed: Taught
Mode of assessment (if applicable): Examination and video submission

Skills / attributes: Numeracy
How this is developed: Taught
Mode of assessment (if applicable): Examination

Skills / attributes: Problem solving skills
How this is developed: Taught
Mode of assessment (if applicable): Online tests

Skills / attributes: Teamwork
How this is developed: Groupwork on the video assessment
Mode of assessment (If applicable): Video Submission

Skills / attributes: Organised and able to work under pressure
How this is developed: Producing an accessible ‘issue’ video to present analysis of a contemporary economic issue in a limited timeframe
Mode of assessment (if applicable): Video submission

Syllabus
 

Markets, Prices, Supply and Demand.
Consumption, Saving, and Investment.
An Equilibrium Business-Cycle Model.
Capital Utilization and Unemployment.
Government Expenditure.
Taxes.
The Public Debt.
The Demand for Money and the Price Level.
Inflation, Money Growth, and Interest Rates.
Money and Business Cycles I: The Price-Misperceptions Model.
Money and Business Cycles II: Sticky Prices and Nominal Wage
Rates.
World Markets in Goods and Credit.
Exchange Rates

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.