Study-Unit Description

Study-Unit Description


CODE ECN1021

 
TITLE Introductory Macro-Economics

 
LEVEL 01 - Year 1 in Modular Undergraduate Course

 
ECTS CREDITS 4

 
DEPARTMENT Economics

 
DESCRIPTION The study-unit will cover the following topics:

1. Aggregate Economic Activity and its measurement;
2. The consumption and its determinants;
3. Investment expenditure and its determinants;
4. Government and its role in the economy, mostly through fiscal policy;
5. Foreign trade and the balance of payments;
6. The income multiplier process;
7. Money, interest rates and monetary policy;
8. Aggregate demand, supply and price level;
9. The labour market including the relationship between unemployment and inflation;
10. Exchange rates and their effect on the economy.

Study-unit Aims:

The purpose of this study-unit is to enable students to understand economic issues which affect the economy as a whole and the basic economic tools and theoretical approaches necessary to comprehend the effects of policy measures. The study-unit is designed so as to satisfy the needs of all students including those with no prior knowledge of economics, but with a knowledge of mathematics equivalent to at least a pass in the SEC Intermediate Level Mathematics.

Learning Outcomes:

1. Knowledge & Understanding:

By the end of the study-unit the student will be able to understand economic issues which affect the economy as a whole and the basic economic tools and theoretical approaches necessary to comprehend the effects of policy measures.

2. Skills:

By the end of the study-unit the student will be able to apply macroeconomic theories to practical policy measures, with a focus on the Maltese economy.

Main Text/s and any supplementary readings:

Economics Principles and Policies. W. Baumol and A. Blinder.
Macroeconomics and the Maltese Economy. Lino Briguglio.
Principles of Macroeconomics. K. E. Case, R. C. Fair and S.Oster.
Economics, John Sloman.

Additional reading in order to view updated statistics

The Central Bank of Malta Quarterly Review (online)
NSO Press Releases (online)

 
STUDY-UNIT TYPE Independent Online Learning, Lecture & Tutorial

 
METHOD OF ASSESSMENT
Assessment Component/s Assessment Due Resit Availability Weighting
Examination (2 Hours) SEM2 Yes 100%

 
LECTURER/S

 
The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints.
Units not attracting a sufficient number of registrations may be withdrawn without notice.
It should be noted that all the information in the study-unit description above applies to the academic year 2018/9, if study-unit is available during this academic year, and may be subject to change in subsequent years.

https://www.um.edu.mt/course/studyunit