Postgraduate Course: Understanding Economies (CMSE11600)
Course Outline
| School | Business School |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
| Course type | Online Distance Learning |
Availability | Not available to visiting students |
| SCQF Credits | 10 |
ECTS Credits | 5 |
| Summary | This 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
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.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | Online MBA students only, unless with the express permission of the Director of MBA Programmes |
Course Delivery Information
|
| Academic year 2024/25, Not available to visiting students (SS1)
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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 )
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| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
|
| Additional Information (Assessment) |
100% Individual Assessment |
| Feedback |
Formative
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.
Summative
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.
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| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Understand and discuss critically the macro-economy, particularly the elements measured by GNP, GDP and National Income.
- 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.
- 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.
- Understand and discuss critically the role of government in expanding aggregate demand through fiscal policy.
- 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.
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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
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| Keywords | Not entered |
Contacts
| Course organiser | Dr Wynne Lam
Tel:
Email: wlam4@ed.ac.uk |
Course secretary | Ms Sarah Yaxley
Tel: (0131 6)50 3475
Email: Sarah.Yaxley@ed.ac.uk |
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