BAEcon Development Studies and Social Statistics

Year of entry: 2022

Course unit details:
Macroeconomic Analysis 4

Course unit fact file
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 Pre-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. The role of money: a simple model of money (ch. 2, MME – with references to ch. 1)
  2. Inflation, the Phillips curve and the Lucas Critique (ch. 4, MME)

Part II: Banking

  1. Banking, liquidity and financial intermediation (ch. 8, MME)
  2. Money stock fluctuations and output (ch. 10, MME)
  3. Bank risk (ch. 13, MME)
  4. Liquidity risk and bank panics (ch. 14, MME)

Part III: Government debt and inflation

  1. Deficits and the national debt (ch. 15, MME)
  2. The temptation of inflation (ch. 18, MME)

Teaching and learning methods

Synchronous activities (such as Lectures or Review and Q&A sessions, and tutorials), and guided self-study

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

  • 30% Coursework (one single piece of homework)
  • 70% Final Exam
     

Feedback methods

 Students can receive further feedback from tutorials and office hours.

Recommended reading

Bruce Champ, Scott Freeman and Joseph Haslag, Modeling Monetary Economies. Cambridge University Press, 4th Edition. (MME)

Teaching staff

Staff member Role
Michele Berardi Unit coordinator

Additional notes

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

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