This module allows students to develop an understanding of fundamental and intermediate concepts in macroeconomic analysis by equipping them with a range of appropriate analytical skills, including descriptive, graphical and mathematical methods. This allows students to develop the capacity to apply analytical techniques to real world problems.
Principal Learning Outcomes
Subject Knowledge and Understanding:...demonstrate knowledge of economic behaviours, outcomes, trends, developments, phenomena, institutions and policies.
Subject Knowledge and Understanding:...demonstrate an understanding of key concepts, principles, theories and models in Economics
Subject Specific/Professional Skills:...demonstrate the capacity for abstract reasoning and to simplify economic problems through the application of theoretical models.
Subject Specific/Professional Skills:...demonstrate the capacity to interpret economic data and to use data to inform the selection and application of appropriate economic tools of analysis
Typically, topics covered will include those such as: Macro (Term 2)
• Consumption, saving and investment.
• Aggregate demand, the multiplier and the IS curve
• The labour discipline model of equilibrium unemployment
• Wage setting, inflation and the Phillips Curve
• Social Preferences over inflation and unemployment, the central bank
• Monetary policy stabilisation: central bank responses to economic shocks
• Fiscal policy stabilisation
• Economic growth in historical and global perspective
• The Solow model of economic growth
- Core Module
- X35B - Year 1
- Pre or Co-requisites
- This module is available to all students outside the Department of Economics (and other than students in WBS) conditional on: having taken ‘EC137 Economics 1: Micro’ and on having achieved a Grade B or better in Mathematics at A-level, or the equivalent.
- Assessment Method
- Coursework (20%) + 1.5 hour examination (Summer) (80%)
- Coursework Details
- 1.5 hour examination (Summer) (80%) , 2000 word essay (20%)
2000 word essay (20%) - Eligible for self-certification: No, 1.5 hour examination (Summer) (80%) - Eligible for self-certification: No CATS:
- Exam Timing