- UCAS course code
- L900
- UCAS institution code
- M20
Bachelor of Arts (BAEcon)
BAEcon Development Studies
In-depth study into the problems and options faced by the developing world.
- Typical A-level offer: AAA including specific subjects
- Typical contextual A-level offer: ABB including specific subjects
- Refugee/care-experienced offer: BBB including specific subjects
- Typical International Baccalaureate offer: 36 points overall with 6,6,6 at HL, including specific subjects
Fees and funding
Fees
Tuition fees for home students commencing their studies in September 2025 will be £9,535 per annum (subject to Parliamentary approval). Tuition fees for international students will be £29,500 per annum. For general information please see the undergraduate finance pages.
Policy on additional costs
All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).
Scholarships/sponsorships
Scholarships and bursaries, including the Manchester Bursary , are available to eligible home/EU students.
Some undergraduate UK students will receive bursaries of up to £2,000 per year, in addition to the government package of maintenance grants.
You can get information and advice on student finance to help you manage your money.
Course unit details:
Macroeconomics 1
Unit code | ECON10241 |
---|---|
Credit rating | 10 |
Unit level | Level 1 |
Teaching period(s) | Semester 1 |
Available as a free choice unit? | Yes |
Overview
The aims of this course are:
- To provide a self-contained introduction to macroeconomics for economics students and general social scientists.
- To cover the preparatory material for more specialist courses in macroeconomics in the second and third years.
- To provide key employability skills such as the ability to commentate and analyse recent key macroeconomic events and global issues relating to the macro economy.
Pre/co-requisites
This course unit is for BA Econ students only (anyone from another degree programme wanting to take it should take ECON10252 in the second semester).
Aims
The aims of this course are:
- To provide a self-contained introduction to macroeconomics for general social scientists.
- To cover the preparatory material for more specialist courses in economics in the second and third years.
- To provide key employability skills such as the ability to commentate and analyse recent key macroeconomic events and global issues relating to the macro economy.
Learning outcomes
- Demonstrate knowledge of the major macroeconomic issues and policy objectives.
- Understand the concept of macroeconomic modelling and how differing approaches fit into the modern debate on pluralism in macroeconomics.
- Demonstrate a detailed understanding of the extended Keynesian income-expenditure model alongside alternative models to represent a macro-economy.
- Understand the role of the commercial and central bank in the creation of money in the economy.
- Use the models covered to analyze a variety of fiscal and monetary policy choices to derive basic normative implications.
- Demonstrate critical awareness of the exchange rate and interest rate mechanism for macroeconomic policy including pathologies such as the financial crisis and currency wars.
Syllabus
Provisonal
Introducing the Macroeconomic Variables Part I: Overview of Macroeconomics, National Income and Economic Growth
• Gross Domestic Product
• Comparing Real and Nominal GDP
• Long Run Growth and Short Run Fluctuations in Economic Activity
Introducing the Macroeconomic Variables Part II: Unemployment, Inflation and International Trade
• Measuring and Understanding the Components of the Labour Market
• The GDP Deflator and Consumer Price Measures of Inflation
• An Introduction to International Trade
Macroeconomic Modelling:Modelling the Macroeconomic Variables, Two Baseline Models and Economic Schools of Thought:
• The Three Markets and the Three Agents
• The Circular Flow Model and an Overview of the Keynesian Cross and the AS/AD Model
• Introduction to Economic Policy and a Delineation for the Schools of Economic Thought
Money and The Financial Markets:
• The Definition of Money
• The Market for Central Bank Money and Monetary Policy
• How Money is Created and the Money Multipliers
• The Theory of Liquidity Preference and Money Market Equilibrium
• The Financial Markets and the Mechanics of Monetary Policy
• An Overview of the Financial Crisis
The Market for Goods and Services:
• The Interest and Exchange Rate Channels
• Components of Gross Domestic Product and the Goods Market
• Fiscal Policy
• The Multiplier and the Crowding Out Effect
• Encompassing the Open Economy
• The Market for International Trade and the Case of Brexit (2016).
The Labour Market:
• A Static View of the Labour Market
• Equilibrium and Disequilibrium Unemployment
• An Introduction to a Dynamic View of the Labour Market and Unemployment Duration
• The Phillips Curve and the Concept of Expectations
The Aggregate Supply Aggregate Demand Model:
• Introduction to the Aggregate Supply and Aggregate Demand Model
• Short Run and Long Run Equilibrium in the AS/AD Model
• Economic Policy Analysis Using the AS/AD model
• The Financial Crisis Revisited and the State of Macroeconomics
Teaching and learning methods
Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study
Employability skills
- Analytical skills
- To provide a detailed and qualified economic perspective of recent and global macroeconomic events. The ability to provide critical analysis of key macroeconomic policy choices by governments and central banks.
Assessment methods
Summative Assessment (Compulsory)
80% Exam
20% Mid-Term
Formative Assessment (Non-Compulsory)
4 Sets Home Works/Formative Assessment
Weekly Lecture Quizzes
Feedback methods
There will be a set of exercises in a seperate folder on Blackboard which will be considered homeworks (or formative assessment). Formative assessment is 'non' compulsory, but highly recommended for your successful progression towards the final assesment. Students should complete their homeworks at home and then see a teaching assistant for feedback on their written attempt.
Your solution sheet and any comments from your TA will prvide your feedback for the homeworks. See Blackboard for times and locations of feedback sessions. Please remember to take the written attempt of your homework with you.
Please be careful to take note of the period for which the feedback sessions run, normally up and until one week before the begining of the examination period, and not during holiday periods.
Additional Feedback Opportuities:
The course meetings are an ideal opportunity to ask questions to your lecturer and interact generally in a context based learning environment; time will also be set aside after the meeting for you to ask questions directly to your lecturer in a smaller group.
Use the lecture quizzes, in the lecture folder each week, to get immediate feedback on the key practice questions from the lecture. Follow the guidance given carefully, before a reattempt, to reinforce areas where you need to improve your knowledge. During term time, drop in to ANY teaching assistant (TA) led FEEDBACK SESSIONS advertised in the Revision Zone of the course website on Blackboard.
Recommended reading
The Textbook for this course will be:
Paul Middleditch (2018), “Introduction to Macroeconomics”, Pearson Ed. (Chapters 1 to 7 and 10)
The eBook is available on Blackboard as an e Text for all studenrs.
If tou would like a pronted vrsion as well you can purcahse a copy from Blackwlls Bookshop, Oxford Raod
Available in Blackwell’s Oxford Road, next to Arthur Lewis Building, Manchester - close to Arthur Lewis Building
The book should provide background reading for lectures and allow students to deepen their knowledge about topics covered or discussed in the lectures.
Teaching staff
Staff member | Role |
---|---|
Paul Middleditch | Unit coordinator |
Additional notes
For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary