Applied Macroeconomics
Description
This module builds on the foundations of macroeconomics. In applied macroeconomics, the economy will be analysed in the long-run (the classical model) and the short-run (keynesian model). In these models, we examine national output, the level of unemployment and the price level and show how government policies such as stabilisation policies or investment policies affect the macroeconomy. Case studies will be a feature of the module to take account of current developments. Students will identify, act on, and evaluate their professional and personal actions with the knowledge and appreciation of interconnections among economic, environmental, and social perspectives.
Learning Outcomes
Describe and distinguish between the Keynesian and Classical schools of economic thought.
Analyse economic growth, the natural rate of unemployment and inflation in the long-run, and the effects of savings and government debt.
Construct and manipulate the IS /LM model as a framework for macroeconomic analysis in the short-run
Identify short-run and long-run issues in macroeconomics
Demonstrate knowledge and understanding of current macroeconomic problems by applying theories to concrete cases.
Students will identify, act on, and evaluate their professional and personal actions with the knowledge and appreciation of interconnections among economic, environmental, and social perspectives.