Undergraduate Programme BA (Hons) Business Administration Stage 2, Academic Year 2011-12.

Module Guide Macroeconomics for Business (EC566)

Level H - 15 credits
Module Convenor: Professor Rob Fraser Module Aims:
A1: To develop understanding of the principles of macroeconomics as they relate to business A2: To enable students to see how these principles can help them to understand the current macroeconomic policy debate and how they may be applied to common macroeconomic situations they will meet in business.

Learning Outcomes:
LO1: Students will be able to understand aggregate demand, aggregate supply and the operation of the macroeconomy, and how public policies affect the macroeconomy LO2: Students will be able to apply fundamental macroeconomic principles and manipulate simple economic diagrams of relevance to business LO3: Students will be able to read about, discuss and form an opinion regarding current macroeconomic policy.

Teaching and Learning Strategy:

The classes for this course will be a mixture of Lectures, Seminars and Computer Laboratory Practicals. Lectures will be delivered to the entire class, while for Seminars and Practicals the class will be split into groups. Note that students are expected to match each hour of class contact for a 15 credit module with four hours of reading and other preparation associated with this class contact.

Class Times and Locations:

Classes will take place on Mondays at 2pm and Fridays at 9am, 10am and 11am during (Spring) term. The first class will take place on Monday 16th January 2011 at 2pm in KLT2. At this time students will be provided with a timetable for Lectures, Seminars and Computer Laboratory Practicals and their locations for the rest of the term.

Learning Support Material:

There are two textbooks which provide similar levels of learning support for this module: R Lipsey and A Chrystal (2011) Economics (12th Edition) Oxford University Press (L&C) W J Baumol and A S Blinder (2011) Macroeconomics: Principles and Policy (12th Edition) South-Western Cengage Learning (B&B). Note that L&C is focused on the UK economy, while B&B is focused on the US economy. Note also that additional on-line learning material is provided by the publishers of both L&C and B&B. Module Topics and Suggested Reading: The circular flow of the macroeconomy (L&C: chs 15,16; B&B: chs 5,8) Inflation and unemployment: definitions and causes (L&C: chs 24,25; B&B: chs 6,14) Aggregate supply, aggregate demand and fiscal policy (L&C: chs 17,18,19; B&B: chs 9,10,11,16) Money, the financial system, interest rates and monetary policy (L&C: chs 20,21; B&B: chs 12,13,15,17) International trade, the balance of payments and exchange rates (L&C: chs 22,26,27; B&B: chs 18,19,20).

ASSESSMENT STRATEGY
Task Description including duration of end of course exam Essay Final written examination (2 hours) Weighting 20% 80% Date Task Set Friday 24th February Summer 2012 Submission Date Wednesday 4th April

Contacting me:
As I work at the Medway Campus and the Canterbury Campus email is the best way to contact me: R.W.Fraser@kent.ac.uk Rob Fraser Professor of Agricultural Economics School of Economics University of Kent