Postgraduate Course: Understanding Economies (EMBA) (CMSE11231)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Course type | Standard |
Availability | Not available to visiting students |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Credits | 10 |
| Home subject area | Common Courses (Management School) |
Other subject area | None |
| Course website |
None |
Taught in Gaelic? | No |
| Course description | This course focuses on macroeconomics and is designed to provide sufficient understanding of the dynamics and developments in the economy to enable participants to engage in informed debate and to interpret relevant reports on contemporary economic issues. Understanding the economy is vital as it affects all companies in terms of the level of demand for products, the cost of interest rates and the exchange rate (which intensifies or reduces competition even for firms not overtly engaged in trade). Each of these elements interact both with themselves and with other factors, such as government policy. |
Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
|
Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
| Additional Costs | None |
Course Delivery Information
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| Delivery period: 2014/15 Semester 1, Not available to visiting students (SS1)
|
Learn enabled: Yes |
Quota: None |
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Web Timetable |
Web Timetable |
| Course Start Date |
15/09/2014 |
| Breakdown of Learning and Teaching activities (Further Info) |
Total Hours:
100
(
Lecture Hours 20,
Summative Assessment Hours 30,
Programme Level Learning and Teaching Hours 2,
Directed Learning and Independent Learning Hours
48 )
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| Additional Notes |
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| Breakdown of Assessment Methods (Further Info) |
Written Exam
100 %,
Coursework
0 %,
Practical Exam
0 %
|
| No Exam Information |
Summary of Intended Learning Outcomes
Knowledge and Understanding:
¿ The elements measured by GNP, GDP and National Income
¿ The role of savings and investment and, more generally, the role of leakages (savings, taxation and imports) and injections (investment, Government expenditure and exports) in determining the level of GDP.
¿ The implications of rising GNP for tax revenues and the current account of the balance of payments.
¿ The role of government in expanding aggregate demand through fiscal policy.
¿ The creation of money by the banking system and the limits due to reserve requirements
¿ The role of the interest rate in affecting demand for money.
Cognitive and Subject-Specific Skills:
¿ Apply a systems-thinking perspective when analysing economic and business problems
¿ Apply logical thought when analysing cause and effect in the presence of interdependence
¿ Apply symbols and simple equations to model real-world phenomena
¿ Analyse and understand data in the presence of multi-causal phenomena
Transferable Skills:
¿ Skills of argument development and persuasion.
¿ Demonstrate skills of critical thinking and make effective use of data and analytical tools.
¿ Plan and manage independent study and research, and communicate effectively in writing.
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Assessment Information
| Written Examination - 100% |
Special Arrangements
| None |
Additional Information
| Academic description |
Not entered |
| Syllabus |
Demand, supply and the market. Determination of national income. The multiplier, fiscal policy and foreign trade. Money and modern banking. Interest rates and money transmission. Aggregate supply and inflation. |
| Transferable skills |
Not entered |
| Reading list |
Not entered |
| Study Abroad |
Not entered |
| Study Pattern |
Not entered |
| Keywords | Not entered |
Contacts
| Course organiser | Prof Jonathan Crook
Tel: (0131 6)50 3802
Email: j.crook@ed.ac.uk |
Course secretary | Miss Kate Ainsworth
Tel: (0131 6)51 3854
Email: Kate.Ainsworth@ed.ac.uk |
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