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BAEcon Economics and Social Statistics / Course details
Year of entry: 2021
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Course unit details:
Macroeconomic Analysis 4
|Unit level||Level 2|
|Teaching period(s)||Semester 2|
|Offered by||School of Social Sciences|
|Available as a free choice unit?||Yes|
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.
|Unit title||Unit code||Requirement type||Description|
|Macroeconomic Analysis 3||ECON20521||Pre-Requisite||Compulsory|
At the end of the course student should have developed an understanding of key aspects of modern macroeconomic theory and policy.
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
Online Learning and Guided Self-Study
- 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.
- Using library, electronic and online resources.
- Transferable skills: information retrieval; numeracy; time management.
- Final Exam (100%).
Students can receive further feedback from tutorials and office hours.
Stephen D. Williamson, (2014) Macroeconomics, fifth edition, Pearson.
|Independent study hours|
|Michele Berardi||Unit coordinator|
For every 10 course unit credits we expect students to work for around 100 hours. This time generally includes any contact times (online or face to face, recorded and live), but also independent study, work for coursework, and group work. This amount is only a guidance and individual study time will vary