|Delivery Type||Delivery length / details|
|Lecture||20 one hour lectures|
|Seminars / Tutorials||5 seminars|
|Workload Breakdown||25 contact hours 100 hours of study and review for lectures and tutorials 30 hours of preparation for the coursework 45 hours of revision for the examination|
|Assessment Type||Assessment length / details||Proportion|
|Semester Exam||3 Hours Written examination||80%|
|Semester Assessment||Coursework 1,500 words||20%|
|Supplementary Exam||3 Hours Repeat failed element||80%|
|Supplementary Assessment||Repeat failed element||20%|
On completion of this module, students should be able to:
* Demonstrate a detailed understanding of the nature causes and consequences of business cycles and the principal schools attitudes towards stabilization policy.
* Critically analyze problems associated with business cycles and their consequences for firms and economies.
* Apply simple economic models to explain business cycles.
* Evaluate the different schools of thought that exist with regard to the stabilization of business cycles.
* Critically evaluate the principal policy instruments and policies (fiscal and monetary) for stabilizing business cycles.
As part of the general moe towards 20 credit standardization across Part Two modules, the existing EC34510 Business Cycle and Macroeconomic Policy module is expanded and turned into a new 20 credit module. This is a core module for single honours N310 Business Finance.
This module examines the nature, causes and consequences (domestic and international) of business cycles and the policies required to deal and manage with them.
- The nature of business cycles, their measurement and character. The relationship between business cycles and economic growth.
- Schumpeter and the Business Cycle
- Keynesian Theories of the Business Cycle
- The Political Theory of the Business Cycle
- Real Business Cycle Theory
- The International Transmission of Business Cycles
- The New Classical attitudes to and approaches to stabilization
- The New Keynesian consensus
|Skills Type||Skills details|
|Application of Number||Numerical problems and data analysis will be treated in tutorial exercises, appropriate assignments, and examination questions.|
|Communication||Participation in discussion-based seminars will enhance the verbal communication skills of the participants. Written communication proficiency will also improve as a result of the compulsory coursework component of the module.|
|Improving own Learning and Performance||Students will improve their learning by undertaking directed but independent study and work. Time management will be crucial in preparation for the assessments.|
|Information Technology||Accessing course information and documents from Blackboard and internet for referencing material, and use of word-processing skills for the assignment.|
|Personal Development and Career planning||The module helps students to develop various personal and interpersonal skills, generally transferable in career terms.|
|Problem solving||Problem solving skills are covered in lectures and applied in tutorials and coursework. The module will enhance students' ability to think critically on macroeconomic issues and helps to apply various research methods and approaches to problem solving from a policy perspective.|
|Research skills||Students are expected to obtain, select, and assimilate information from a variety of sources. This will introduce them to a range of research methods, which will facilitate development of appropriate rsearch skills necessary to produce high quality analytical reports.|
|Subject Specific Skills||The module helps students to be able to apply economic models and think critically in the abstract.|
|Team work||Participation in seminars through individual and group discussions will improve team-working skills of all the participants.|
Reading ListRecommended Text
Mankiew, G (2000) Macroeconomics 4th Edition Worth Primo search Matthews, R C O (1969) The Trade Cycle Nesbitt-CUP Primo search Miles, David (2002) Macroeconomics:understanding the wealth of nations/David Miles, Andrew Scott. Wiley Primo search Snowdon, B and H R Vane (2002) A Macroeconomic Reader Routledge Primo search Snowdon, B, Vane, H R and P Wynaczyk (2002) A Modern Guide to Macroeconomics Routledge Primo search
This module is at CQFW Level 6