Module Directory

This module familiarises students with the tools of macroeconomic analysis and show how these tools can be applied in macro-policy issues.

National income accounting; theories of growth; the government budget, fiscal and monetary policies in the short-run; balance of payments and exchange rates; international monetary regimes and domestic stabilisation policies; wage-price flexibility and adjustment to macroeconomic shocks; unemployment, inflation, and the natural rate; monetary policy, dynamic inconsistency, and credibility; microfoundations of sticky wages and prices; microfoundations of aggregate consumption; the quantity theory of money and monetarism.

The aim of this module is:

• To familiarise the student with the tools of macroeconomic analysis and show how these tools can be applied in macro-policy issues.

By the end of this module, students will be expected to be able to:

1. Build alternative macroeconomic models.


2. Apply analytical reasoning to derive and compare their main predictions.


3. Conceptualise actual macroeconomic questions by means of these models.


4. Evaluate critically alternative macroeconomic policies.

Skills for your Professional Life (Transferable Skills)

By the end of this module, students will also be expected to develop key skills of:

• Problem solving


• Numeracy


• Communication


• Time management.


• Academic skills: literacy, numeracy and ICT skills, research, information and communication skills.


• Professional working skills: adaptability; flexibility, decision-making.


• External awareness: knowledge of work, creativity and originality. 


• Personal development planning: Time management, target setting and action planning, self management, reflection and evaluation.

The module will be delivered via:

• 2 lecture hours per week.
• 1 class per week.

Feedback for this module will occur through class meetings where we will go over the answers to problem sets and where you will be able to ask questions about your own method of solution; answers that will be posted on the website for the module that will give you written guidance on the appropriate method to approach the problems, assignments, and tests; and office hours where any additional questions can be addressed.

You should be sure that you use these methods to understand how to improve your own performance. For modules including a term paper, the term paper will be returned with individualised feedback that addresses what the marking criteria are and how you could improve your own work.