BAEcon Economics

See course Canvas pages.

(ECON10071A OR ECON10071B OR ECON20071) AND (ECON20032 OR ECON20532)

(ECON10071 OR ECON20071) AND (ECON20032 OR ECON20532)

The course focuses on the role of modern theories of economic growth and state of the art theories of economic fluctuations and economic policies. These elements have been increasingly recognized in recent years as playing a key role in shaping macroeconomic outcomes in the long and in the short run determining the effects of economic policies.

In the first part of the course (long run analysis), the aim will be to give students an overview of the main theories of economic growth, starting from the general equilibrium neoclassical growth model, then the endogenous growth model and the Schumpeterian growth model.

In the second part of the course (short run analysis), the course will focus instead on the Real Business Cycle and the New Keynesian models and various extension of monetary and fiscal policy models.

Students should be able to:

• master the main equilibrium concepts of economic growth.
• work with a saddle path graph.
• know long run policy implications of fiscal policies.
• understand the main mechanisms behind a monetary model.
• solve for the short and long term general equilibrium.
• solve for the optimal policy under discretion and commitment.

Provisional

Brief overview of the syllabus/topics:

1. Introduction. The Neoclassical Growth Model. The Ramsey Model;
2. The Endogenous Growth Model;
3. Income differences among countries;
4. The Real Business Cycle Model;
5. The Basic New Keynesian Model;
6. Monetary Policy Design in the New Keynesian Model;
7. Monetary Policy Trade-offs: Discretion Vs Commitment;
8. Revision Class

Textbooks:

1. Advanced Macroeconomics, David Romer fourth Edition;
2. Monetary Policy, Inflation and the Business Cycle, Jordi Galí, Second Edition.

Additional reading (book chapters, blogs, and journal articles) will be provided through Canvas

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

Intellectual skills: (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

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

Transferable skills and personal qualities: (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).

 

• Tutorials.
• Office hours.
• Revision sessions.
• Discussion boards.

Tuition fees for home students commencing their studies in September 2027 will be £10,050 per annum. Tuition fees for international students will be £33,100 per annum.

For general information please see the undergraduate finance pages.

All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).

We know that student finance can be complicated. The links below provide further information to help guide you.

Learn more about student finance options for UK students.

Learn more about fees and finance for international students.

As an international student you may be eligible for our Global Futures Scholarships. This is open to students starting their studies in September 2026.