University of Kent

Description

This core module builds on the first year teaching of macroeconomics to provide an intermediate course which covers core theory as well as policy issues and controversies in the global economy. The first term develops the core theory of fluctuations, labour markets, asset prices and money markets, and the open economy. The second term builds on micro-foundations to explain consumption, investment, business cycles and long-run growth, and analyses fiscal and monetary policy in depth. Throughout the module special attention is paid to empirical evidence and facts to support the theory models.

Learning outcomes

The module builds upon the first year economics modules and by the end you will

• be able to understand, analyse and critically assess the current macroeconomic problems widely addressed in the media such as unemployment persistence, exchange rate volatility and the impact of monetary and fiscal policies
• be able to form your own economic view on current macroeconomic problems
• understand the interrelationships between different macroeconomic policies
• build a solid economic background which will enable you to start a career as a macroeconomist
• be able to present macroeconomic analysis both verbally and in written form
• be able to construct and write answers to macroeconomic analytical questions
• be able to undertake further study in the different areas of macroeconomics such as international finance, monetary economics, growth theory, etc.

Reading list

Preliminary Reading:

Burda, M. and Wyplosz, C., Macroeconomics: A European Text, 4th edn.,Oxford University Press, 2005.

Factsheet

Credits	15 [7.5 ECTS]
Level	Intermediate
Term	(Stage 2) Autumn and Spring
Availability
Exclusion
Pre-requisites	Stage 1 Economics, and Mathematics and Statistics for Economics and Business (or equivalent).
Assessment	20% coursework, consisting of two class tests and two 1500 word essays 80% written examination of 3 hours duration
Contact hours	44 lectures and 20 seminars