Macroeconomics

Module code: EC1001

Module co-ordinator: Professor Martin Kaae Jensen

Macroeconomics is the branch of economics that focuses on the performance and structure of an economy as a whole, rather than the behaviour of individual firms and consumers. In particular, macroeconomics aims to explain and predict the development of macroeconomic variables such as GDP (Gross Domestic Product), the rate of unemployment and the rate of inflation. Macroeconomic methods are used extensively by governments and central banks around the world when designing economic policy.

Topics covered

  • The foundations of the behaviour of the national economy and the public policies which affect it.
  • Concepts of national accounting, GDP, inflation, unemployment, balance of payments, growth.
  • Basic monetary and fiscal policy tools available to governments and authorities, the contexts in which they might be deployed and their likely consequences.
  • Specific topics linking agents' microeconomic behaviour with macroeconomic aggregates, such as income distribution and the labour market.

Learning

  • 20 one-hour lectures
  • 9 one-hour tutorials

Assessment

  • Exam, 2 hours (80%)
  • Coursework (20%)