Macroeconomic Theory
| Code | School | Level | Credits | Semesters |
| ECON2003 | Economics | 2 | 20 | Spring UK |
- Code
- ECON2003
- School
- Economics
- Level
- 2
- Credits
- 20
- Semesters
- Spring UK
Summary
This module will address both the fundamental and applied aspects of macroeconomic theory. In particular, the module will focus on:
- Introducing the modern theory of expectations and economic dynamics
- Using this approach to think about short run fluctuations
- Studying the role of macro policy on short run fluctuations.
The module will review the so-called modern approach to aggregate demand and aggregate supply. This entails incorporating into the classical approach to aggregate supply and aggregate demand insights from Keynesian economics. This will serve as a base to discuss the role of macro-policy in controlling for fluctuations in output and employment.
Target Students
Available for Year 2 Undergraduate students on Economics degree programmes, including BSc Jt Hons Maths and Economics students. Also available for Economics Exchange students. This module cannot be taken with ECON2018 Principles of Macroeconomics.
Classes
This module is delivered through a series of lectures and tutorials.
Assessment
- 100% Exam 1 (2-hour): Exam
Assessed by end of spring semester
Educational Aims
The main aim of this module is to introduce the main issues and developments of modern macroeconomics.The module aims to enable the participants to develop reflection of understanding of material through tutorial questions.Learning Outcomes
The learning outcomes are such that students will be able to:
Knowledge and Understanding:
- A1 Demonstrate a broad knowledge of core areas of economics
- A4 Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
Intellectual Skills:
- B4 Be able to frame analysis of problems, identifying which parameters should be taken as fixed and why they might change.
Professional / Practical Skills:
- C1 Discuss and analyse government policy.
- C3 Be familiar with differing approaches to analysing a given economic problem and the history and development of economic ideas.
Transferable Skills:
- D1 Apply mathematical, statistical and graphical techniques in an appropriate manner.