IF0EC2: Foundation Economics - Macroeconomics

Module code: IF0EC2

Module provider: International Study and Language Institute

Credits: 20

Level: Foundation Level

When you'll be taught: Semester 2

Module convenor: Dr Vee Muruko-Jaezuruka, email: v.muruko-jaezuruka@reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s): IN THE SAME YEAR AS TAKING THIS MODULE YOU MUST TAKE IF0EC1 (Compulsory)

Pre-requisite or Co-requisite module(s):

Module(s) excluded: IN TAKING THIS MODULE YOU CANNOT TAKE IF0C2J (Compulsory)

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 2 October 2024

Overview

Module aims and purpose

The module introducesÌýstudents to the basic principles of macroeconomics. Students will learn the basic concepts and modelsÌý used by economist to comprehend the overall performance of the economyÌýand the discussions found in the media. The module will put emphasis on major important issues related to economic growth, standard of living, inflation and unemployment.Ìý

The Module Lead at the °ÄÃÅÁùºÏ²Ê¿ª½±¼Ç¼ Malaysia isÌýEsther Chang (e.chang@reading.edu.my)

Module learning outcomes

By the end of the module, it is expected that students will be able to:Ìý

1. explain the basic principles of macroeconomics.Ìý
2. demonstrate an understanding of macroeconomics problems and political issues.Ìý
3. discuss the basic concepts and tools of macroeconomic analysis in the real world.

Module content

• Introduction to Macroeconomics
• Economic Growth and the Economic CycleÌýÌý
• National income andÌýthe Standard of Living
• Aggregate Ddemand and Aggregate Supply and the Price Level.Ìý
• Consumption and InvestmentÌý
• Unemployment.Ìý
• Inflation and the Phillips Curve.
• Money
• Fiscal and Monetary Policy.
• Iinternational Trade and Exchange Rate.
• Balance of Payments and exchange rate Protectionism.Ìý

Structure

Teaching and learning methods

Lectures and seminars. The lectures will cover all the basic learning materials. Seminars will cover material based on lecture topics and will provide time for students to ask questions.Ìý

Weekly surgery hours for individual assistance as required.Ìý

For students studying at our campus in Malaysia: This module may be taught in a different semester and the breakdown of study hours may differ to those set out in the Study Hours table (please refer to the Module Handbook for the correct breakdown). In addition, you will be required to complete an additional 40 hours of study, taking the total number of study hours to 240 for this module. This is to comply with the Malaysian QualificationsÌýAgency (MQA)

Study hours

At least 42 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: /cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Coursework will be set for most of the tutorials.Ìý

Reassessment

Additional costs