NBS8252 : Macroeconomic Theory
- Offered for Year: 2025/26
- Module Leader(s): Dr Roberto Bonilla Trejos
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
Semesters
Your programme is made up of credits, the total differs on programme to programme.
| Semester 2 Credit Value: | 10 |
| ECTS Credits: | 5.0 |
| European Credit Transfer System | |
Aims
The module starts with an introduction to growth theory to study the economy’s performance in the long run. It then moves to study the IS-PC-MR to develop students’ understanding of how the economy works in the short run and analyse monetary policy, to give students the opportunity to apply these models to the analysis of various economic shocks and evaluate the effect of policies on the economy. Finally, the module covers unemployment theory, including efficiency-wage theories, contracting, insider/outsider theory, and search and matching models.
Outline Of Syllabus
Lectures 1-2:
Growth Theory: The Solow Model
Lectures 3-5
The IS-PC-MR model in a closed economy
Economic Shocks and policy response
Extending the model to an open economy
Lecture 6-7
Unemployment theory: 1)Efficiency-wage theories, 2)Contracting, insider/outsider theory
3) Search and matching models
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Scheduled Learning And Teaching Activities | Lecture | 7 | 2:00 | 14:00 | PiP lectures |
| Guided Independent Study | Assessment preparation and completion | 1 | 41:00 | 41:00 | N/A |
| Scheduled Learning And Teaching Activities | Small group teaching | 3 | 1:00 | 3:00 | PiP Seminars |
| Guided Independent Study | Independent study | 1 | 42:00 | 42:00 | N/A |
| Total | 100:00 |
Teaching Rationale And Relationship
Lectures provide the theoretical framework for the study of Macroeconomics.
Seminars provide an opportunity to enhance and test the understanding gained in lectures and private study.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
| Description | Length | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|---|
| Written Examination | 90 | 2 | A | 100 | Standard written examination |
Formative Assessments
Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Prob solv exercises | 2 | M | Practice questions are available |
Assessment Rationale And Relationship
The written exam consists of a set of scenarios that test students’ ability to select the appropriate framework for analysis, use it to predict the most likely outcomes for the macroeconomy and present the argument in a logical and coherent way, paying attention to the limitations of the models used.
RESIT INFORMATION: If students are eligible to a second attempt resit will be an exam and the resit calculation will be based 100% on the completed exam.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- NBS8252's Timetable