| 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. Hu |
| 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 two-hour lectures (sixteen hours in total), fortnightly small group tutorials (four hours in total) and two exercise lectures (four hours in total).
Formative assessment:
Two sets of exercises.
Summative assessment:
100% by 2½-hour closed book written exam. This examination contains questions which assess all of the ILOs.
David Romer (2012). Advanced Macroeconomics (fourth edition). McGraw-Hill, New York.
Bagliano, Fabio-Cesare and Bertola, Giuseppe (2004). Models for Dynamic Macroeconomics. Oxford University Press, Oxford.
Various journal articles, updated each year.
