BAEcon Economics and Finance

The unit aims to: (i) introduce students to  simple macroeconomic dynamics; (ii) understand the implications of intertemporal decision making for consumption, investment and government policy; (iii) develop critical analysis and lay the foundation for macroeconomic courses in the third year; (iii) provide the employability skills of describing macroeconomic events and key global issues to non-economists with confidence.

 

For BSc Econ & BA Econ Pre-Requisite: ECON10182.

 ECON10182 Macro Analysis 2

 

The aims of this unit are to:

1. Introduce students to  introduction to simple macroeconomic dynamics.
2. Understand the the implications of intertemporal decision making for consumption, investment and government policy.
3. Develop critical analysis and lay the foundation for macroeconomic courses in the third year.
4. Provide the employability skills of describing macroeconomic events and key global issues to non-economists with confidence.

Economic Growth:

• Economic growth Malthus and Solow (Williamson, ch. 6).
• Income disparity among countries and Endogenous Growth (Williamson, ch. 7).

 

intertemporal Macroeconomics (Two-Period Model):

• Household’s intertemporal budget constraint and consumption decisions (Williamson, ch. 8).
• Credit Market Imperfections: Credit Frictions, Financial Crises (Williamson, ch.9).
• Public and Private Budget Constraints (Williamson, ch. 10).
• Taxation and Deficit Financing: Public Debt and Seignorage (Williamson, ch. 10).

 

The material is delivered via the online (Blackboard) provision of material (readings, clips) and Lectures.

The learning process of students is supported by tutorials (exercise questions and discussion based questions) and the provision of further online material (such as discussion boards and practice quizzes).

(i) have developed their understanding of modern macroeconomic theory and policy in particular with respect to intertemporal decision making and economic growth.

(i) problem-solving skills; (ii) skills of analysis, and the application of analytical models; (iii) the evaluation and critical analysis of arguments, theories and policies; (iv) synthesise and evaluate data.

(i) independently locate and assess relevant literature, and to draw on these to develop understanding and to construct arguments.

(i) select and deploy relevant information; (ii) communicate ideas and arguments in writing; (iii) apply skills of analysis and interpretation; (iv) manage time and work to deadlines; (v) use ICT to locate, analyse, organise and communicate information (e.g. internet, on-line databases, search engines,

library catalogues, spreadsheets, specialist programs, word processing and presentation software).

Mid-Term Exam - 30%

Final Exam - 70%

• Tutorial feedback.
• Office hours.
• Revision sessions.

Stephen D. Williamson, (2014) Macroeconomics, fifth edition, Person.