NBS8252 : Macroeconomic Theory

Semester 2 Credit Value: 10
ECTS Credits: 5.0


To develop students’ understanding of how the economy works through macroeconomic models. To give students the opportunity to apply these models to the analysis of various economic shocks and evaluate the effect of policies on the economy.

Outline Of Syllabus

Lectures 1-4 Developing the IS-PC-MR model and using it to analyse the most common shocks in a closed economy context
Lectures 5-7 Extending the closed economy model to analyse how open economies work.

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Scheduled Learning And Teaching ActivitiesLecture72:0014:00N/A
Guided Independent StudyAssessment preparation and completion132:0032:00N/A
Guided Independent StudyDirected research and reading125:0025:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching41:004:00N/A
Guided Independent StudyIndependent study125:0025:00N/A
Teaching Rationale And Relationship

Lectures provide the theoretical framework for the study of Macroeconomics.
Seminars provide an opportunity to enhance and test the understanding gained in lectures and private study.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
Written Examination902A100N/A
Formative Assessments
Description Semester When Set Comment
Prob solv exercises2MPractice questions are available
Assessment Rationale And Relationship

The written exam consists of a set of scenarios that test students’ ability to select the appropriate framework for analysis, use it to predict the most likely outcomes for the macroeconomy and present the argument in a logical and coherent way, paying attention to the limitations of the models used.

Reading Lists