Overview

The content is divided in six main topics: 1. Economic growth, with analysis of both the Solow model and endogenous growth models. The module will provide a detailed description of physical and human capital, and total factor productivity. 2. Labour market. Analysis of both demand and supply of labour, as well as models of competing monopolies. Also, discussion of unemployment and the effects of institutional factors, including the effects of employment protection legislation. 3. Business cycles, with a specific focus on consumption and investment and different economic school of thoughts (Keynesian and Real Business Cycle). 4. Fiscal policy and public finances: this topic will focus on taxation, government consumption and government debt. 5. Monetary policy: this topic will focus on different approaches to monetary policy in theory and in practice, including a detailed discussion of the operating and intermediate instruments of monetary policy. It will also entail discussion of inflation and money demand and supply. 6. International macro: this topic will focus on currencies and exchange rates as well as international trade and trade policy.

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

-good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

-excellent -A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Analyse the determinants of inflation and unemployment.

• Analyse the determinants of short run economic performance, or business cycles.

• Analyse the determinants of the long run performance of various economies around the world.

• Analyse the inter-linkages between various macro variables.

• Understand and explain the principles and motivation underlying government economic policy.