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Module Title
LI Macroeconomics
School
Birmingham Business School
Department
Economics
Module Code
08 29189
Module Lead
David Dickinson and Ceri Davies
Level
Intermediate Level
Credits
20
Semester
Semester 1
Pre-requisites
Co-requisites
Restrictions
Available to all students who have been allowed onto the second year of a degree programme for which it is a compulsory module or who have passed Principles of Economics
This module is the intermediate macroeconomics modules. It considers theories of behaviour of the aggregate economy beyond the introductory Principles of Economics module. The main purpose of the module is to provide richer theoretical foundations for the study of macroeconomics in the short- and long-run and to equip students with the basic toolbox of macroeconomic analysis. The topics covered include: IS/LM and AD/AS in closed and open economies, inflation, unemployment, monetary policy, growth, fiscal policy and theories of consumption and investment. Issues arising from modern behavioural macroeconomics are also discussed.
Learning Outcomes
By the end of the module students should be able to:
demonstrate knowledge and critical understanding of the concepts of ‘comparative static analysis’ and ‘dynamic macroeconomic equilibrium’;
use the theoretical models developed throughout the module to analyse the impact of shocks and macroeconomic policy on aggregate economic variables;
critically evaluate these theoretical models with reference to empirical evidence, including macroeconomic policy examples;
explain how macroeconomic relationships derive from the behaviour of individual economic agents (i.e., consumers, firms and policymakers).