EC30330 - MACROECONOMIC BEHAVIOUR AND SYSTEMS

Module Identifier	EC30330
Module Title	MACROECONOMIC BEHAVIOUR AND SYSTEMS
Academic Year	2002/2003
Co-ordinator	Dr Reza Arabsheibani
Semester	Semester 2
Other staff	Dr Reza Arabsheibani
Pre-Requisite	EC10320 , MA13610
Mutually Exclusive	EC34510
Course delivery	Lecture	22 Hours
	Seminars / Tutorials	6 Hours
Assessment	Semester Exam	3 Hours	70%
	Semester Assessment		30%

Learning outcomes

By the end of this module students should:

Have gained a detailed understanding of how the open economy operates.

Have an appreciation of how the theory is applied to contemporary issues in macroeconomics, such as the European Monetary System.

Understand how different schools of thought view the economy and how this produces radically different prescriptions for the role of monetary and fiscal policy.

Understand the Solow model of long run growth.

Aims

This module aims to provide students with a thorough grounding in aggregate economic behaviour at an intermediate level. This will build on the foundations provided in EC10320. In particular the module focuses on the theoretical explanations of how the macroeconomy works, as well as relevant policy issues. Having completed this course students will be in a position to proceed, in the third year, to the study of more advanced topics in macroeconomics.

Brief description

This module provides a thorough treatment of the standard intermediate macroeconomics.

Content

Introduction to IS/LM
Open economy IS/LM
Aggregate supply
Investment and consumption
Time consistency
Economic growth

Transferable skills

Independent work on assessed coursework requiring basic researching skills
Appreciation of contemporary political and economic issues
Contribution to seminar discussion and debate

Reading Lists

Books
N G Mankiw. (2000) Macroeconomics. 4th ed.
G K Shaw, M J McCrostie and O Greenaway. (1997) Macroeconomics.
R J Barrow and V Grilli. (1996) European Macroeconomics.
K Pilbeam. (1998) International Finance. 2nd ed.