| Unit name | Macroeconomics |
|---|---|
| Unit code | ECONM1011 |
| Credit points | 15 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
| Unit director | Professor. Jon Temple |
| Open unit status | Not open |
| Pre-requisites |
None |
| Co-requisites |
ECONM1010 |
| School/department | School of Economics |
| Faculty | Faculty of Social Sciences and Law |
This unit provides an introduction to modern macroeconomic theory and analysis.
Macroeconomics is concerned with aggregate economic outcomes such as GDP, consumption, and unemployment. It requires an understanding of the behaviour of individuals and firms, and how their decisions influence (and are influenced by) aggregate outcomes. For the analysis of macroeconomic policy decisions, it is important to recognise the constraints on policy-makers, and the important role played by expectations.
The unit provides an introduction to the relevant models and methods, but also emphasizes the importance of an intuitive understanding of the key ideas.
By the end of the unit:
Weekly lectures and fortnightly small group tutorials
Formative assessment:
An essay assignment. Word length: 1000 words.
Summative assessment:
100% by 3-hour closed-book written exam. The exam is divided into two sections A and B. It is compulsory to answer one question from Section A and two questions from Section B. Section A comprises technical questions. Section B provides a choice of essay questions. The exam as a whole will test both the extent of understanding and the analytical and technical abilities of the students, and their ability to evaluate the strengths and weaknesses of different approaches.
