The Macroeconomic Environment

Module code: EC7090

Module co-ordinator: Dr Deborah Gefang

Description

Macroeconomics studies the interactions between the big issues that affect the economy -- growth, inflation, unemployment, output fluctuations, and crises. In this course, we aim to develop an understanding of the methods of advanced macroeconomic analysis and to apply the methods in studying selected current issues in macroeconomics. The topics discussed in the course have been chosen so that they can be related to specific policy decisions and policy regimes, emphasizing the links between the development of macroeconomics as a subject and as a vehicle for understanding and improving real world policy decisions.

Topics covered

  • Basic concepts and the circular flow of income
  • The basic demand side model
  • Investment and the IS curve
  • Financial markets and the LM Curve
  • Monetary and fiscal policies
  • Supply and inflation
  • Supply and the labour market
  • Trade and exchange rates
  • Special topics – EU single market and world economy

Learning

  • Twenty one-hour lectures
  • Five one-hour tutorials

Assessment

Two-hour examination (100%)

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