BSc Economics

This unit introduces students to macroeconomic theory and policy analysis at an intermediate level. It develops critical analysis skills, prepares students for advanced macroeconomic courses in the second and third years, and enhances their ability to confidently describe key macroeconomic events and global issues to a non-economist audience.

This unit aims to:

· Introduce students to macroeconomic theory and policy analysis at an intermediate level.

· Develop critical analysis and lay the foundation for macroeconomic courses in the second and third years.

· Develop employability skills, such as engaging with economic magazines and newspaper articles in a critical manner and the ability to confidently describe recent key macroeconomic events and global issues to a non-economist audience.

On completion of this unit, successful students will be able to:

· Demonstrate an understanding of modern macroeconomic theory and quantitative methods at an intermediate level.

· Apply intermediate analytical models to assess macroeconomic policies and interpret their effects.

· Evaluate macroeconomic arguments, theories, data, and policies at an intermediate level.

· Communicate macroeconomic concepts and findings effectively in written formats.
 

The course is structured into three main topics. The first topic covers open economy macroeconomics, including openness in goods and financial markets, the IS-LM model in an open economy, and exchange rate regimes. The second topic focuses on economic growth, covering models of economic growth and the role of technological progress. The third topic addresses expectations, exploring financial markets, consumption, investment, and the relationship between expectations and macroeconomic policy.

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

Strong foundation in theoretical models and their applications at an intermediate level.

develop problem-solving skills; be able to apply analytical models; evaluate and critically analyse arguments, theories and policies; synthesize and evaluate data.

Competence in using models to assess real-world issues

Ability to communicate ideas and arguments in written format, effective time management, ability to work to deadlines, and group collaboration.

Tutorial discussion. Quizzes and formative assessments. Office hours and Q&A sessions. Revision sessions. Discussion boards.

Olivier Blanchard, Alessia Amighini and Francesco Giavazzi, Macroeconomics: A European Perspective, 4rd edition, Pearson Education Limited, 2021