What explains business cycle fluctuations in modern economies? Can fiscal or monetary policy interventions improve macroeconomic performance? And what determines economic growth over long periods of time? This module explores modern macroeconomic theory at the postgraduate level, as an aid to understanding contemporary macroeconomic issues. We study short-term fluctuations in macroeconomic performance (e.g., in GDP, unemployment or inflation) and how macroeconomic policy may be used to address these, as well as the determinants of long-term economic growth. The emphasis is on learning theoretical concepts and analytical techniques, to evaluate macroeconomic issues and understand theoretical mechanisms behind empirical patterns.
Lecture 24, Seminar 5, Workshop 3, Independent Study 118, Assessment Preparation 50
Spring
Take home test 1.5 hours worth 30%.
Examination. closed book on campus exam 2 hours worth 70%.
Reassessment Method: Like for like
The University is committed to ensuring that core reading materials are in accessible electronic format in line with the Kent Inclusive Practices. The most up to date reading list for each module can be found on the university's reading list pages.
On successfully completing the module, students will be able to:
1) Draw on a systematic understanding and critical awareness of current problems in macroeconomics to construct complex economic arguments related to short-run and long-run macroeconomic performance.
2) Understand and critically evaluate rigorous tools of theoretical macroeconomic analysis.
3) Apply a large number of theoretical models of the macroeconomy, interpret their predictions, and critically evaluate their limitations.
4) Contribute to critical debates about policy interventions in the macroeconomic context.
5) Deal with complex macroeconomic issues systematically and communicate conclusions from economic analysis clearly.
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