| Unit name | Macro 3 - Macroeconomics with an Extended Essay |
|---|---|
| Unit code | ECON30002 |
| Credit points | 30 |
| Level of study | H/6 |
| Teaching block(s) |
Teaching Block 4 (weeks 1-24) |
| Unit director | Dr. Demery |
| 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 to Graduate Diploma students. The course is organised in three broad sections: the first two concern the short-run behaviour of the macro-economy and the third examines the long-run. In the first section we cover topics in the theory of aggregate demand. We begin with an application of the IS/LM model: the choice of monetary instrument under uncertainty. We then look in greater detail at the 'component parts' of the IS/LM model: the consumption function, the investment function and the demand for money. In the second section we examine competing models of short-run aggregate supply, concentrating on New Classical and New Keynesian theories. In the final broad section we cover the theory of economic growth and the empirical literature on convergence.
