FACULTY OF HUMANITIES SCHOOL OF SOCIAL SCIENCES ECONOMICS COURSE UNIT OUTLINE 2012 ECON10082: The UK Economy: Macroeconomics Semester:

Two Credits: 10
Lecturer(s): Room: Email: Office Hours: Tutors: Administrator: Lectures: Tutorials: Dr. Sakir Devrim Yilmaz Room 2.014 in the Arthur Lewis Building sakir.yilmaz@manchester.ac.uk Friday 10-12 http://www.socialsciences.manchester.ac.uk/intranet/ug/sohol/ TBA on blackboard site Leo Wells, Room G.001 Arthur Lewis Building Monday 1-2pm, Thursday 2-3pm (University Place Theatre B) Allocate yourself to a tutorial group using the Student System ***IMPORTANT INFORMATION PLEASE READ*** Pre-requisite(s): First year students: A-Level Economics or its equivalent Second year students: ECON10042 or A-Level Economics or equivalent Resits: Please note that if you fail to pass this course as a whole, you will be required to resit all examined components of the course in the August resit examination period. Communication: Students must read their University e-mails regularly, as important information will be communicated in this way Feedback opportunities: -during term time, book a slot in the weekly office hour(s) of the lecturer or the tutor -email the lecturer or tutor to make additional appointments if office hour slots are booked -although it may not be possible to answer even simple questions by email, asking questions by emails may be a good start Mode of assessment: Summative Assessment (Formal assessment): Assessment will be via a multiple choice examination of 40 questions to be answered in one hour and 30 minutes. This will carry 90 per cent of the overall mark . In addition, 10 per cent of the overall mark will be awarded through completion of an essay. Please see Section 5 of this document for important information about assessment. Preparation for 4 tutorials, including completing 6 multiple choice quizzes.

Formative Assessment (It does not count towards final grade):

2.

Aims and objectives

Aims: The aims of the course are: (i) to develop a deeper knowledge of the principles of macroeconomic analysis and (ii) use these principles to understand the macroeconomic dimensions of recent UK economic history. Objectives: On successful completion of the course, students should be able to: (i) demonstrate knowledge of recent UK macroeconomic performance (ii) be able to demonstrate a theoretical understanding of this performance in terms of economic analysis (iii) critically evaluate aspects of recent UK macroeconomic policy. 3. Plan of semester(s)
Tutorials Tutorial 1 A Questions & Quiz 1 Tutorial 1 B Questions & Quiz 1 Tutorial 2 A Questions & Quiz 2 Tutorial 2 B Questions & Quiz 2 Tutorial 3 A Questions & Quiz 3 Tutorial 3 B Questions & Quiz 3 Easter Break Tutorial 4 A Tutorial 4 B Tutorial 5 A Revision Tutorial 5 B Revision Deadlines

Week beg. Lectures 30.01.12 L1 & L2 06.02.11 L3 & L4 13.02.11 L5 & L6 20.02.11 L7 & L8 27.02.11 L9 & L10 05.03.11 L11 & L12 12.03.11 L13 & L14 19.03.11 L15 & L16 23.04.11 16.04.11 16.04.11 L17 & L18 23.04.11 30.04.11 07.05.11

4.

Syllabus and reading list

General Reading: Bespoke Textbook: We have made special arrangements with Pearson Education to publish a specially designed text book that covers the recommended reading material for the two course modules ECON10081 The UK Economy Microeconomics and ECON10082 The UK Economy Macroeconomics. This text contains the recommended chapters from the two main texts for these modules in a single volume and is available from Blackwells at approximately the price of one of these texts. The title of the book is The UK Economy Microeconomics and Macroeconomics. If you have not already done so I strongly urge you to consider purchasing this book as it has been specially designed for these two course modules while helping you to save money. Alternatively the individual textbooks are: Griffiths, A. and Wall, S. (2007), Applied Economics: An Introductory Text (11th edition), Prentice Hall and Sloman, J. (2002/06) Economics, 5th/6th edition, Prentice Hall. Additional relevant material may be found in Sawyer, M. (ed.) (2005) The UK Economy: A Manual of Applied Economics, 16th edition, Oxford University Press. A number of further, more specific readings may be provided as the course unfolds. Note that more specific readings may be given and material, including lectures and all supporting data used in tables and diagrams, will be posted on the course website

Topics & Specific Reading:

1. The economy in the short-run: the demand side. Consumption and Savings; Investment; Government Spending and Fiscal Policy; Net trade. Course Text: pp. 115-182. 17Sloman, Ch. 16.1-16.3, 17.1-17.5, 18.1-18.2, 19.1-19.2. Griffiths and Wall, Ch. 16, 17, 18, 19, 27. Sawyer, Ch 2, 4 and 5, 7. 2. Money and Finance: Money, interest rates and inflation. Course Text: pp. 183-214. Sawyer, Ch. 6. Sloman, Ch. 20, 21. Griffiths and Wall, Ch.20, 21. Also please visit the Bank of England website at www.bankofengland.co.uk. 3. The economy in the long-run: the supply side. Productivity, the (aggregate) labour market. Course Text: pp. 215-282. Sloman, Ch. 22.1-22.3; Griffith and Wall, Ch. 23, 24. Also, note some references on the website. 4. The international economy: international trade, exchange rates, and exchange rate regimes. Course Text: pp. 283-302. Sawyer, Ch. 1 and 7. Sloman, Ch. 15.1-15.2. Sloman, Ch. 15. Griffiths and Wall, Ch. 15, 26, 27, 28 and 29. 5. Recent British Economic Performance, Northern Rock and the Credit Crunch Readings and data available on the website Work Required for Tutorials You are expected to prepare for tutorials by: 1. Attending lectures, 2. Reading the course texts and any other appropriate materials 3. Thinking about the subject matter. You will then be in a position to complete the relevant quizzes (found on the Blackboard site for this course) and complete the essays as required. An essay (of around 1000 words) must be submitted at the relevant tutorial and they will be marked, annotated and returned later. The Essay Question is:

1. Evaluate the UKs economic performance in recent decades from both an historical and
international perspective. Please note that 10% of your grade depends on your handing in the essay on time. Late submission of essay: 40% of marks if submitted by Friday, 0% of marks if submitted after that. The essay (of around 1000 words) must be submitted at UG Office. Students must complete a three part coursework coversheet which includes a receipt stamped by the UG Office on submission of their work. Students must write their tutor name clearly on the front page of their essay. Essay Deadline: Wednesday April 18th Tutorial questions will be posted on the blackboard site. You are expected to consider and complete these questions before the tutorials and to bring your work with you.

The blackboard site will also include a set of short quizzes which are compulsory and which you should complete before the end of the term. Finally, the blackboard site includes a set of 30 multiple choice questions which have been designed as revision aids. You should complete them in the run up to the exam. 5. Further information about assessment

Examination(s) Weighting: Date: Length: Structure: Resits: 90% June examination period 1.5 hours 40 multiple choice questions Please note that if you fail to pass this course as a whole, you will be required to resit all examined components of the course in the August resit examination period All students must be aware that any past-examination papers MUST be referred to appropriately. Any past examination paper is merely an aid to revision and MUST NOT be used as an exemplar as to the content and style of an examination. Content and style of examination paper may change from year to year and ALL students must adequately prepare based on their own syllabus (and not that from previous years), in conjunction with the current Course Unit Outline. Please see the University's past examination papers website: http://www.campus.manchester.ac.uk/ssc/pastpapers/Humanities/S ocial Sciences/index.shtml

Past examination papers:

Examination period:

14.05.12 08.06.12

Re-sit Examination period:

20.08.12 31.08.12

Assessment criteria The criteria used by ES in the assessment of examinations and coursework can be found in the following documents. Document Degree BEconSc Programme Handbook (available from Arthur Lewis Building, G.001) BA (Econ), BA IBFE, and Economic Studies Second and Third Year Handbooks and Course other undergraduate Unit Guides (available from Arthur Lewis Building, G.001) degrees Postgraduate Programme Handbooks (available from Arthur Lewis Building, 2.003)

Plagiarism Plagiarism is presenting the ideas, work or words of other people without proper, clear and unambiguous acknowledgement. It also includes self-plagiarism (which occurs where, for example, you submit work that you have presented for assessment on a previous occasion), and the submission of material from essay banks (even if the authors of such material appear to be giving you permission to use it in this way). Obviously, the most blatant example of plagiarism would be to copy another students work. Hence it is essential to make clear in your assignments the distinction between: the ideas and work of other people that you may have quite legitimately exploited and developed, and the ideas or material that you have personally contributed. Plagiarism is a serious academic offence and the consequences are severe. Guidelines on plagiarism are included in the documents listed above or can be found, together with general guidelines on the universitys examinations process, on the StudentNet website. (http://www.studentnet.manchester.ac.uk/crucial-guide/academic-life/formalprocedures/conduct-and-discipline/ ) January exam marks The marks for January examinations, as issued to undergraduate students by Faculty Office and to graduate students by Programme Directors, are provisional marks and are provided for information only. Students are advised that: 1. 2. these marks may be raised or lowered by the external examiners; once marks have been agreed by the internal examiners and issued to students, they can only be changed via the external examiners; 3. if the mark for a particular exam is both marginal and critical to the overall classification of a student, the exam paper/assessed essay will be referred to the appropriate external examiner; 4. questions of compensation will be dealt with in June, when the full range of results is available; 5. marks are never confirmed until the meeting of the relevant Examinations Board in June; 6. the University does not countenance student appeals against the academic judgements of Examiners; 7. the grounds on which a student may appeal are specified on the website http://www.studentnet.manchester.ac.uk/crucial-guide/academic-life/formalprocedures/academic-appeals/