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  • Agenda, week by weekWhat the Module Covers, in Order
  • Key factsThe Practical Details
  • MilestonesThe Dates, and What Is Due on Each
  • Key termsTerms You Have to Know
  • Questions and answersWhere to Go When You Are Stuck

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Module Handbook: Macroeconomics 201
Fenwick University · Semester 2 · Twelve teaching weeks · Dr A. Okonjo
What the Module Covers, in Order
Weeks 1 to 2
National accounts
Output, the circular flow, and what a deflator hides.
Weeks 3 to 4
Money and banking
How deposits are created, and what a central bank actually sets.
Weeks 5 to 6
Inflation
Demand pull, cost push, and why expectations do most of the work.
Weeks 7 to 8
Labor markets
Unemployment, participation, and the Phillips curve in practice.
Weeks 9 to 10
The open economy
Exchange rates, the balance of payments, and the trilemma.
Weeks 11 to 12
Policy
Fiscal rules, debt sustainability, and the 2008 and 2020 responses.
The Practical Details
Module codeECON 201
Credits20 credits at level 5
Contact hours3 hours a week
Assessment40% coursework, 60% exam
Set textChapters 1 to 14
Office hoursTue 14:00 to 16:00
The Dates, and What Is Due on Each
6 Feb
Seminar groups close. Pick one on the module page before this date.
13 Mar
Data exercise due by 16:00. Worth 15% of the module mark.
24 Apr
Essay due by 16:00. Two thousand words, worth 25%, one resubmission allowed.
8 May
Revision lecture. The examination format is walked through in full.
22 May
Examination, worth 60%. Two hours, one essay and four short answers.
Terms You Have to Know
Output gap
The difference between what an economy is producing and what it could produce at full capacity.
Real rate
The interest rate once inflation is taken out. It is what borrowing actually costs.
Crowding out
Government borrowing lifting rates far enough to reduce private investment.
Sticky prices
Prices that do not move quickly when demand does, which is why policy works at all.
The trilemma
Fix your exchange rate, allow free capital flows, or set your own rates. Never all three.
Automatic stabiliser
Spending that rises in a downturn with nobody deciding, such as unemployment benefit.
Where to Go When You Are Stuck
QI have missed a seminar.
Watch the recording, then bring the exercise to office hours. Two absences are fine, four are not.
QCan I use a different textbook?
Yes. The set text is one route through the same material, and every seminar sheet stands alone.
QThe maths is beyond me.
Come to the Thursday support hour in Ashby 2.03. It runs from week two and assumes nothing.
QWhen do marks come back?
Fifteen working days after each deadline, with written feedback on the essay and a mark on the portal.
Module ECON 201, semester 2, twelve teaching weeks. Coursework 40% (15% data exercise, 25% essay) and examination 60%. Dates confirmed by the department on 12 January.

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