Economics

Macroeconomics 2

Module code: L1032
Level 5
15 credits in autumn teaching
Teaching method: Lecture, Seminar
Assessment modes: Coursework, Unseen examination

The module is concerned with two main topics:

The Long Run is an introduction to how economies grow, gradually raising the standard of living, decade by decade. Once we have the basic analysis in place, we can begin to explain why there are such huge disparities in living standards around the world.

Expectations is a deepening of the behavioural background to modelling saving and investment decisions, emphasising the intrinsically forward-looking nature of saving and investment decisions and analysing the financial markets which coordinate these decisions.

Module learning outcomes

  • Have demonstrated systematic understanding of the principles at the forefront of economics
  • Be able to use the power of abstraction to focus upon the essential features of an economic problem and to provide a systematic framework for the coherent and critical evaluation of the effects of policy or other exogenous events.
  • Be able to analyse an economic problem or issue using an appropriate theoretical framework, recognise its limitations and appreciate uncertainties around such analyses.
  • Have learned to understand the importance of, and be able to construct, rigorous argument to help evaluate ideas, including those at the forefront of research.