Aims & Learning Objectives:
The aim of this course unit is to build on second year Macroeconomics and introduce topics that are the subject of recent academic research.
The learning outcomes are that students will achieve (i) an understanding of the scope of modern macroeconomics and its applications, (ii) an ability to read and understand current macroeconomic literature, (iii) an ability to use advanced macroeconomics concepts in analysing specific issues and (iv) examine how recent advances in macroeconomic theory has informed UK economic policy.
By the end of the unit students will be sufficiently competent in macroeconomics to pursue a masters in Economics.
Content:
The course unit covers specific areas in macroeconomic theory, such as the foundations of macroeconomic theory, expectations in macroeconomics, theories of unemployment and inflation and monetary policy and fiscal policy. Recent advances in these topics will be covered such as the dynamics of NAIRU and the natural rate of unemployment.
Key text: Heijdra, B and Van Der Ploeg, F, 2002, Foundations of Modern Macroeconomics, OUP
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