Economics
Macroeconomics 2
Module code: L1032
Level 5
15 credits in autumn semester
Teaching method: Lecture, Seminar
Assessment modes: Coursework, Unseen examination
On this module, you’ll focus on two main topics.
The first is ‘The Long Run’, where you’ll explore how economies grow and gradually raise the standard of living, decade by decade. Once the basic analysis is in place, you’ll examine why there are such huge disparities in living standards around the world.
The second is ‘Expectations’, where you’ll gain a deeper understanding of the behavioural background to modelling saving and investment decisions. You’ll learn how this emphasises the intrinsically forward-looking nature of saving and investment decisions. You’ll then analyse the financial markets which coordinate these decisions.
Module learning outcomes
- Demonstrate understanding of the core concepts and key features of the macro economy as they relate to the medium run and long run, respectively
- Evaluate the consequences of economic shocks or policy interventions on macroeconomic outcomes鈥攊n particular, output, unemployment and inflation鈥攂ased on the New Keynesian synthesis and the Solow growth model
- Recognise limitations of the theoretical framework used and identify uncertainties around such analyses
- Develop an analytical reasoning to help evaluate ideas, and demonstrate a capacity to provide economic arguments both verbally and in writing