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BAEcon Development Studies and Social Statistics

Year of entry: 2021

Course unit details:
Macroeconomic Analysis 4

Unit code ECON20532
Credit rating 10
Unit level Level 2
Teaching period(s) Semester 2
Offered by School of Social Sciences
Available as a free choice unit? Yes

Overview

The unit aims to introduce students to a number of theories and models of modern macroeconomics, with particular attention to the role played by money and prices in the economy. Students will learn to use a unified theoretical framework to address important questions in macroeconomics and will develop a deep understanding of the role of money, banks and financial intermediation in an economy.

Pre/co-requisites

Unit title Unit code Requirement type Description
Macroeconomic Analysis 3 ECON20521 Co-Requisite Compulsory
Co-Requisite: ECON20521. For BA Econ and BSc Econ only

ECON20521

Aims

The unit aims to introduce students to a number of theories and models of modern macroeconomics, with particular attention to the role played by money and prices in the economy. Students will learn to use a unified theoretical framework to address important questions in macroeconomics and will develop a deep understanding of the role of money, banks and financial intermediation in an economy.

 

Learning outcomes

At the end of the course student should have developed an understanding of key aspects of modern macroeconomic theory and policy.

Syllabus

Part I: Money
The role of money
1. A simple model of money (ch. 2, MME – with some references to ch. 1) Inflation, the Phillips curve and the Lucas Critique
2. Inflation (ch. 4, MME)
3. Price surprises (the Phillips curve, expectations and the Lucas critique) (ch. 6, MME)

Part II: Banking
Banking and financial intermediation
4. Capital (ch. 7, MME)
5. Liquidity and financial intermediation (ch. 8, MME)
Central banks, money supply and output
6. Central banking and money supply (ch. 9, MME

7. Money stock fluctuations (ch. 10, MME) Bank risk, bank panics and moral hazard
8. Bank risk (ch. 13, MME)
9. Liquidity risk and bank panics (ch. 14, MME)

Part III: Government debt
Public debt and inflation
1. Deficits and the national debt (ch. 15, MME)
2. The temptation of inflation (ch. 18, MME)

Teaching and learning methods

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).

Employability skills

Innovation/creativity
critical thinking; problem posing, synthesis and analysis of data and information; critical reflection and evaluation.
Problem solving
Practical skills: using library; electronic and online resources.
Research
Using library, electronic and online resources.
Other
Transferable skills: information retrieval; numeracy; time management.

Assessment methods

  • Final Exam (100%).
     

Feedback methods

 Students can receive further feedback from tutorials and office hours.

Recommended reading

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

Study hours

Scheduled activity hours
Assessment written exam 1.5
Lectures 16
Tutorials 5
Independent study hours
Independent study 77.5

Teaching staff

Staff member Role
Michele Berardi Unit coordinator

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