Macroeconomics 1 (P01216)

? Credit Points : 20 ? SCQF Level : 11 ? Acronym : MSE-P-MAC1

The aim of this course is to introduce students to the use of dynamic general equilibrium models to shed light on the key policy debates and empirical issues in macroeconomics.

Entry Requirements

none

Subject Areas

Home subject area

Economics, (Management School and Economics, Schedule H)

Delivery Information

? Normal year taken : Postgraduate

? Delivery Period : Semester 1 (Blocks 1-2)

? Contact Teaching Time : 4 hour(s) per week for 10 weeks

All of the following classes

Type	Day	Start	End	Area
Lecture	Wednesday	10:00	12:00	Central
Lecture	Wednesday	14:00	15:50	Central

Summary of Intended Learning Outcomes

Knowledge and understanding of the main aspects of the Classical, Keynesian (and New Keynsian), Monetarist and New Classical macromodels, focusing on explanations provided for macroeconomic fluctuations and policy effectiveness.
Knowledge and understanding of the stylized facts of long-run economic growth, of the models in which the driving forces of growth are both exogenously and endogenously determined and of the empirics of growth in the long-run.
Knowledge and understanding of the relationship between real and nominal variables via the introduction of money in the New Classical (flexible price) and New Keynesian (sticky price) models and of policy problems including time inconsistency.