This course aims to give students a thorough grounding in undergraduate macroeconomic theory and includes theories of how consumption, unemployment, and inflation behave over the business cycle, and the conduct of monetary policy. In addition, the course contains coverage of long run growth and theories of economic convergence, viewed through the lens of exogenous and endogenous growth models.

Lectures: 10 x 2-hour lectures

Tutorials: 9 x 1-hour tutorials

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1. In-course exam: online; Individual; 45 minutes; 30%; ILOs 1-5.
2. Degree exam: in-person; Individual; 120 minutes; 70%; ILOs 1-5.

The main aims of this course are:

■ To provide students with a thorough grounding in advanced undergraduate macroeconomic theory.

■ To expose students to modern debates in economic theory in topical fields such as inflation, unemployment and growth theory.

■ To provide students with the background in economic theory to enable them to take advanced courses in the theory of economic policy and contemporary economic policy.

■ To develop skills in manipulating basic economic models for policy applications.

By the end of this course students should be able to:

1. Apply the economic theory models taught in course to address contemporary questions in economic policy.

2. Effectively use analytical skills to manipulate formal macroeconomic models.

3. Effectively communicate using non-technical language the key implications of theoretical models and their relevance for modern debates in economic policy.

4. Critically evaluate how well the models taught in course can explain the "stylised facts" relating to economic growth and business cycles.

5. Identify and explain the central mechanisms driving the models' economic implications and/or predictions.