Introductory description

This module allows students to develop an understanding of fundamental and intermediate concepts in macroeconomic analysis by equipping them with a range of appropriate analytical skills, including descriptive, graphical and mathematical methods. This allows students to develop the capacity to apply analytical techniques to real world problems.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Typically, topics covered will include those such as: Macro (Term 2)

• Consumption, saving and investment.
• Aggregate demand, the multiplier and the IS curve
• The labour discipline model of equilibrium unemployment
• Wage setting, inflation and the Phillips Curve
• Social Preferences over inflation and unemployment, the central bank
• Monetary policy stabilisation: central bank responses to economic shocks
• Fiscal policy stabilisation
• Economic growth in historical and global perspective
• The Solow model of economic growth

Learning outcomes

By the end of the module, students should be able to:

• Subject Knowledge and Understanding:...demonstrate knowledge of economic behaviours, outcomes, trends, developments, phenomena, institutions and policies.
• Subject Knowledge and Understanding:...demonstrate an understanding of key concepts, principles, theories and models in Economics
• Subject Specific/Professional Skills:...demonstrate the capacity for abstract reasoning and to simplify economic problems through the application of theoretical models.
• Subject Specific/Professional Skills:...demonstrate the capacity to interpret economic data and to use data to inform the selection and application of appropriate economic tools of analysis

Indicative reading list

Please see Talis Aspire link for most up to date list.

View reading list on Talis Aspire

Subject specific skills

Students will have the opportunity to develop skills in:
Abstraction to render and economic problem or situation in terms of an economic model;
Interpretation of abstract economic models through their application to historical events and current policy questions;
A working knowledge of a short-run macroeconomic model suitable for the analysis of monetary and fiscal policy decisions;
A working knowledge of a model of long-run economic growth suitable for interpreting global development outcomes;
Interpretation of economic data.

Transferable skills

Students will have the opportunity to develop:
Analytical thinking/reasoning;
Critical thinking;
Written and verbal communication skills;
Some exposure to mathematical reasoning and basic data analysis.