ECON2004 Topics in Macroeconomics 2
The aims of the module are to learn to approach macroeconomic problems from a general equilibrium perspective, to provide a framework for macroeconomic analysis based on a microeconomic foundation and to enable students to evaluate critically various macroeconomic policy issues.
Module Details
Title: Topics in Macroeconomics 2
Code: ECON2004
Year: 2
Semester: 2
CATS points: 15 ECTS points: 7.5
Level: Undergraduate
Co-ordinator(s): Dr Alice Schoonbroodt, Professor Xavier Mateos-Planas
Pre-requisites and / or co-requisites
| Module | Code | Year |
|---|---|---|
| Principles of Macroeconomics | ECON1002 | 1 |
The aims of the module are (a) to learn to approach macroeconomic problems from a general equilibrium perspective, (b) to provide a framework for macroeconomic analysis based on a microeconomic foundation, (c) to enable students to evaluate critically various macroeconomic policy issues.
On successful completion of this unit, a you will
• understand the equilibrium approach to macroeconomics as a general method for analyzing real-world macroeconomic problems,
• be able to assess the implications of this model, and to relate them to the implications of alternative theoretical approaches to macroeconomic issues;
• understand the importance of microeconomic foundations in macroeconomic analysis.
The unit shows how market-clearing models with strong microeconomic foundations can be used to understand real-world phenomena and to evaluate alternative macroeconomic policies. It presents a single, unified framework for the study of short-term business fluctuation and long-term economic growth. The approach of the course follows the general recognition of the need to build the microeconomic foundations of macroeconomic analysis - that is, to explain aggregate economic phenomena as the implications of the choices of rational individuals who seek to improve their welfare within their limited means.
The use of macroeconomic foundations makes macroeconomics easier to understand because the performance of abstract economic processes like GDP and inflation is linked to something intuitively understood by all -rational individual behaviour.
Study time allocation
Contact hours: 28
Private study hours: 122
Total study time:
150
hours
Teaching and learning methods
There are two lecture periods per week. In addition, there will be several master classes and surgeries.
Resources and reading list
Available on Blackboard
Assessment methods
Assessment of the unit is by coursework (10%) and a two-hour written final examination (90%) at the end of the semester.
In the event of you having to resit this unit, your coursework marks will not be carried forward.