EC34510 - THE BUSINESS CYCLE AND MACROECONOMIC POLICY

Module Identifier

EC34510

Module Title

THE BUSINESS CYCLE AND MACROECONOMIC POLICY

Academic Year

2007/2008

Co-ordinator

Mr Nicholas Perdikis

Semester

Semester 1

Pre-Requisite

(EC10120 and EC10320) or (EC10510 and EC10610)

Course delivery

Lecture

16 Hours.

Group Work

3 Hours. In the form of presentations

Assessment

Assessment Type	Assessment Length/Details	Proportion
Semester Exam	1.5 Hours	100%
Supplementary Exam	1.5 Hours	100%

Learning outcomes

On completion of this module students will possess:

A taxonomy of the business cycle;

An understanding of the development of business cycle theory;

A feel for the difficulties involved in forecasting the business cycle;

An overview of the development of macroeconomic theory;

An understanding of the policy implications of various macroeconomic schools of though.

Aims

This module aims to provide students with an understanding of the causes of business cycles. It will also examine the basis on which counter cyclical macroeconomic policy is suggested and conducted. In so doing it will examine the contribution of the major schools of macroeconomics to the policy debate. The determinants of economic growth will also be examined.

Brief description

The principal aim of this module is to provide students with an understanding of the causes of business cycles. It will also examine the basis on which counter cyclical macroeconomic policy is suggested and conducted. In so doing it will examine the contribution of the major schools of macroeconomics to the policy debate. The cause of economic growth will also be examined.

Content

Overview of business cycles and economic growth
The nature and cause of economic growth
Real business cycles
Multiplier-accelerateor theory
Political business cycle
New classical and new Keynesian macro policies

Transferable skills

More specifically by taking this module students will enhance several transferable skills. Attendance at lectures should help note taking. Essay writing will enhance writing as well as time management skills and problem solving. The group presentations should also enhance teamwork, communication and presentational skills and reinforce further time management skills. The inclusion of web sites and encouragement to use the library fully should help to enhance basic IT and research skills.

Reading Lists

Books
B Snowdon and H R Vane A Macroeconomic Reader, Routledge
D Miles and A Scott A Macroeconomics: Understanding the Wealth of Nations, Wiley
R C O Matthews The Trade Cycle, CUP

Notes

This module is at CQFW Level 6