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| Module Availability |
| Spring |
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module
Mark (%)
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| 2 hour Examination |
70
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| Coursework |
30
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Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module |
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| Module Overview |
| Macroeconomic policy and performance are fundamental to our daily lives. This course gives the students a systematic way of thinking about Macroeconomic issues. The students will end up with a model that they could use independently to understand macroeconomic bahaviour and policy issues in the real world |
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| Prerequisites/Co-requisites |
| None |
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| Module Aims |
| The aim of this module is to provide students with an economic model necessary fo the study of macroeconomic problems. The module demonstrates how to aggregate microeconomic behaviour of economic agents to analyse macroeconomic performance. Particular reference is made to the micro-foundations of macro models and to the role that imperfections play in labour and product markets and to the role of institutions in designing macroeconomic policies |
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| Learning Outcomes |
By the end of this module students will:-
- appreciate how different schools of thought approach analysis of macroeconomic problems
- be aware of the areas of agreement and remaining controversy among different schools of thought
- understand how to build up economic models based on rational inter-temporal optimizing behaviour of all agents
- understand microfundations of consumption and investment
- understand the role of market imperfections
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| Module Content |
The following is an indication of the likely topics to be covered:-
- new Keynesian micro-foundation
- micro-foundations of consumption choices
- micro-foundations of investment choices
- exogenous growth and convergence
- endogenous and Schumpeterian growth
- principles of dynamic optimization
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| Methods of Teaching/Learning |
Lectures (11)
General and small group discussions
Question and answer interactive format
Directed self-study
and Tutorials (5): one-hour fortnightly
Problem based learning
Interative sessions
Encouraged peer support
Directed self-study
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| Selected Texts/Journals |
Compulsory reading:-
Carlin W. and Soskice D. (2006) Macroeconomics Imperfections, Institutions and Policies, Oxford University Press
Recommended Reading:-
Blanchard O. (2009) Macroeconomics, 5th edition, Pearsons
Burda M. and Wyplosz C. (2009) Macroeconomics: A European Text, 5th edition, Oxford University Press |
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| Last Updated |
10 March 2011 |
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