Description
This module covers key concepts and standard theoretical models aimed at understanding the basics of macroeconomic policy. In this course, we will be developing a general equilibrium model based on an analysis of three different markets - goods, financial, and labour market 鈥 focusing on the short (year-to-year) and medium run (less than 5 years) macroeconomic dynamics to better understand the role of macroeconomic policies for business cycles stabilisation.
By modelling the macroeconomy, we will also be able to analyse and explain some of the crucial questions facing economic policy-makers in present times, including the Global Financial Crisis, the policy response to the Covid19 lockdown, the UK mini-budget crisis, the recent inflationary pressures, etc. To this purpose, you will be trained to collect and interpret macroeconomic data in the light of relevant theoretical models.
While 'SESS0008: Introduction to Macroeconomics' can be taken as a stand-alone course, it also provides the necessary foundation for the intermediate unit, 'SESS0021: European Macroeconomics', and together these two units provide a solid background for more advanced studies (see SESS0068: 鈥業nternational Macroeconomics鈥.
Course assessment - MCQ test (30% weighting) and 2 hours examination (70% weighting).
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Textbook: 鈥淢acroeconomics: A European Perspective鈥 by Blanchard, Amighini, Giavazzi- 2021 (4th edition)
Module deliveries for 2024/25 academic year
Last updated
This module description was last updated on 19th August 2024.
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