Timetable information in the Course Catalogue may be subject to change.

University Homepage
DRPS Homepage
DRPS Search
DRPS Contact
DRPS : Course Catalogue : Business School : Common Courses (Management School)

Postgraduate Course: Understanding Economies (CMSE11600)

Course Outline
SchoolBusiness School CollegeCollege of Arts, Humanities and Social Sciences
Credit level (Normal year taken)SCQF Level 11 (Postgraduate)
Course typeOnline Distance Learning AvailabilityNot available to visiting students
SCQF Credits10 ECTS Credits5
SummaryThis MBA 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.
Course description Academic description
The course aims to support an understanding of business because macroeconomics affects all companies through: level of demand for products; interest rates - with their effect on the costs of the firm; and the exchange rate - which tends to intensify or reduce 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.

Outline content
Demand, Supply and the Market
The Determination of National Income
The Multiplier, Fiscal Policy and Foreign Trade
Money and Modern Banking
Interest Rates and Monetary Transmission
Aggregate Supply and Inflation
Exchange rates and the balance of payments.

Student learning experience
Pre-recorded lectures and online tutorials are supported via independent directed reading.
The online tutorials will provide a forum for feedback on understanding of concepts introduced in the pre-recorded lecture materials, clarity of problem solving, analytical skills and reasoning.

Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Course Delivery Information
Academic year 2023/24, Not available to visiting students (SS1) Quota:  None
Course Start Flexible
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 100 ( Lecture Hours 16, Seminar/Tutorial Hours 8, Online Activities 2, Formative Assessment Hours 40, Programme Level Learning and Teaching Hours 2, Directed Learning and Independent Learning Hours 32 )
Assessment (Further Info) Written Exam 0 %, Coursework 100 %, Practical Exam 0 %
Additional Information (Assessment) 100% Individual Assessment
A minimum of one piece of formative feedback will be provided per course. This may be offered asynchronously via discussion boards and emails, and synchronously in tutorials.

Feedback on assignments will be provided within 15 working days of submission. Summative marks will be returned on a published timetable, which will have been made clear to students at the start of the academic year.
No Exam Information
Learning Outcomes
On completion of this course, the student will be able to:
  1. Understand and discuss critically the macro-economy, particularly the elements measured by GNP, GDP and National Income.
  2. Understand and discuss critically the determinants of changes in the current and capital accounts of the balance of payments and their impact on exchange rates, and the implications of rising GNP for tax revenues and the current account of the balance of payments.
  3. Understand and discuss critically 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.
  4. Understand and discuss critically the role of government in expanding aggregate demand through fiscal policy.
  5. Understand and discuss critically the creation of money by the banking system and the limits due to reserve requirements, the role of the interest rate in affecting the demand for money, the role of money supply in inflation and the use of monetary policy to control inflation and the role of the central bank.
Reading List
D Begg, G Vernasca, S Fischer & R Dornbusch, Economics, 10th edition, McGraw Hill, 2011.
Additional Information
Graduate Attributes and Skills C1 Meaningful Interpersonal Interaction
C2 Effective Emotional Intelligence
C3 Authentic Leadership
C4 Ethical, Responsible and Sustainable Business Behaviour
C5 Appropriate Communication
C6 Understand and Make Effective Use of Data
C7 Creative and Entrepreneurial Practice
C8 Personal and Professional Competence
C9 Academic Excellence
C10 Intellectual Curiosity

KeywordsNot entered
Course organiserDr Augusto Voltes-Dorta
Tel: (0131 6)51 5546
Course secretaryMs Sarah Yaxley
Tel: (0131 6)50 3475
Help & Information
Search DPTs and Courses
Degree Programmes
Browse DPTs
Humanities and Social Science
Science and Engineering
Medicine and Veterinary Medicine
Other Information
Combined Course Timetable
Important Information