Unit name | Macroeconomics with Extended Essay |
---|---|
Unit code | EFIM30053 |
Credit points | 30 |
Level of study | H/6 |
Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
Unit director | Dr. Marion Prat |
Open unit status | Not open |
Pre-requisites |
NOne |
Co-requisites |
None |
School/department | School of Economics |
Faculty | Faculty of Social Sciences and Law |
This unit is only available for student on the Graduate Diploma
The unit will take a modern look at the macroeconomy, incorporating both recent insights into how the economy works and also pedagogical concerns that macroeconomics has become too mathematical. Students will understand both that (i) macroeconomic models are simplifications of a complicated economy and also; (ii) that such models are only provisionally correct, since they are dependent on empirical verification.
The main topics to be studied will be:
(i) the determinants of long-run economic growth and productivity and income differences between countries;
(ii) the components of aggregate demand - investment and consumers’ expenditure;
(iii) the consequence of market failures in credit and labour markets for macroeconomic behaviour;
(iv) the operation and efficacy of fiscal and monetary policy in developed economies;
(v) the workings of the international monetary system and the organisation of trade.
Students will be able:
There will be 36 hours of large group lectures (or exercise lectures) and 9 hours of small group classes.
Summative assessment:
[1] 17% Essay (1500-2000 words), which assesses learning outcomes 1-4.
[2] 50% 2 hour Final Exam in January Exam Period, which assesses learning outcomes 1-4.
[3] 33% Extended Essay. This is to give students an opportunity for more extended study and the writing of a critical survey of more recent research, and will provide a useful basis for any future work at postgraduate level. This assess all learning outcomes.