Macroeconomic theory
Lecturer to be advised
6 points
* Two 1.5 hour lectures per week
* First semester
*
Clayton
* Prerequisites: ECO4660
Objectives On completion of the subject students should understand the basic theoretical structures common to modern dynamic macroeconomics. In particular, students will be able to analyse critically the economic reasons underlying the formation of policy and movements of various macro-aggregates; understand key determinants affecting economic growth and fluctuations; enhance their understanding of the basic theoretical approaches employed in specialist fields such as international economics, economic development/growth, applied general equilibrium and financial economics.
Synopsis This subject provides the underpinnings of modern macroeconomics that are basic to models of growth and cyclical fluctuations as well as models of monetary and fiscal policies. A selective overview of topics includes neoclassical and endogenous growth theories; overlapping generations models with and without money; policy ineffectiveness issues; equilibrium business cycle as well as traditional Keynesian models of fluctuations; and models of incomplete nominal adjustment such as those of New-Keynesian and the Lucas-Supply variety.
Assessment Examination (3 hours): 100%
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