This module builds on the main macroeconomic models studied at Level I. The first part of the module will be concerned with macroeconomic developments in the long run and discusses in a theoretical and empirical context topics such as exogenous and endogenous growth as well as structural unemployment and structural change. The second part will focus on the macro-economy in the short run. This includes discussion of empirical business cycle facts and the development of an appropriate framework which allows for the discussion of topical issues such as the short run effects of fiscal policy, unemployment fluctuations and exchange rate dynamics.
Learning Outcomes
By the end of the module students should be able to:
analyse the theoretical models of modern macroeconomics research to discuss the main issues relating to business cycles and long-run growth;
analyse issues relating to business cycles and long-run growth both in the UK and in the wider international economy;
appraise selected papers from professional journals.