EC214: Macroeconomics

Module code: EC214

Module provider: Economics; School of Philosophy, Politics and Economics

Credits: 20

Level: 5

When you’ll be taught: Semester 1

Module convenor: Dr Christos Mavrodimitrakis , email: c.mavrodimitrakis@reading.ac.uk

Pre-requisite module(s): BEFORE TAKING THIS MODULE YOU MUST ( TAKE EC140 AND TAKE EC141 ) OR ( TAKE EC148 AND TAKE EC144 ) (Compulsory)

Co-requisite module(s): IN THE SAME YEAR AS TAKING THIS MODULE YOU MUST TAKE EC213 (Compulsory)

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

Module(s) excluded: IN TAKING THIS MODULE YOU CANNOT TAKE EC202 (Compulsory)

Placement information: NA

Academic year: 2025/6

Available to visiting students: Yes

Talis reading list: Yes

Last updated: 3 April 2025

Overview

Module aims and purpose

Macroeconomics aims to provide a solid theoretical and practical understanding of macroeconomics, building on (i) the material covered in first-year Principles of Economics 1 and 2 modules, and (ii) the mathematical tools and concepts obtained from the first-year Mathematical Methods for Economists module. 

This second-year course is designed to provide a systematic understanding of the main concepts and models of macroeconomics, both graphically and algebraically, related to output, economic growth, inflation, and unemployment. In addition, you should have a deeper appreciation of the interrelationship between these macroeconomic variables and government policy, stabilisation (fiscal/monetary) or structural, and hence be able to get an understanding of major economic events around the globe critically analyse relevant issues discussed in the news, and by politicians. 

Module learning outcomes

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

1. demonstrate a systematic understanding of the main concepts and models of macroeconomics, both graphically and algebraically;
2. understand their relation to empirical evidence and world events;
3. apply those models to study the effects of fiscal and monetary policies on the key macroeconomic variables;
4. identify the challenges that policy-makers face in the aftermath of the Great Recession;
5. understand the policy responses to tackle the economic consequences of Covid-19;
6. obtain the tools necessary to master the material of third year compulsory (or optional) courses with macroeconomic content.

Module content

Topics may include:

• The Goods and Financial Markets – the Demand-side of the Economy
• The Labour Market – the Supply-side of the Economy
• The IS-PC-MR (3-equation) Model and Monetary Policy
• Fiscal Policy and the Government Budget Constraint
• Supply-side Institutions and Structural Policies
• Economic Growth, Innovation and Productivity
• The (Small) Open Economy

Structure

Teaching and learning methods

Lectures will develop all the main module material. Tutorials will cover exercise material designed to facilitate understanding of lecture topics.

Study hours

At least 30 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.

Reassessment

Additional costs