ECON1002 Principles of Macroeconomics
This course provides an introduction to the main theories explaining the aggregate (or macro) behaviour of the economy. It starts by discussing how key macro variables are measured before turning to theories that explain the behaviour of the economy in the short and long run. Using this foundation, we discuss the main tools of macroeconomic policy (monetary and fiscal policy) and their role in stabilising the economy. We conclude by exploring the uses of macro policy in economies with international trade and turbulent financial markets.
Aims and Objectives
• Understand the measurement and limitations of key macroeconomic variables; • Understand the potential and limits of macroeconomic policy; • Explain the causes and consequences of the Financial Crisis
Having successfully completed this module you will be able to:
- Solve new problems using mathematics and economic reasoning
- Communicate economic ideas via diagrams and in writing
1. Intro to Macroeconomics 2. The long run: Economic growth and development 3. The short run: Business cycles and stabilization policy 4. Topics in Macroeconomics: Monetary and Fiscal Policy, The Financial System, International Finance and Exchange Rates, The Global Financial Crisis.
Learning and Teaching
Teaching and learning methods
Lectures and classes.
|Total study time||150|
Resources & Reading list
The method of assessment for this module is based on the in-course tests (10%) and a two-hour final examination (90%). In the event of resit of this module, in-course test marks will not be carried forward.
|Exam (2 hours)||90%|
Repeat type: Internal & External
Prerequisites: ECON1005 or ECON1007