This module provides students with an understanding of the open economy, macroeconomics, growth in the long run and economic policy analysis. The module is complimentary to ECO213 Macroeconomics I where the closed economy was presented.
A. Demonstrate a thorough understanding of the effects of a change in fiscal and monetary policy on the level of income and the balance of payment in a fixed exchange rate regime.
B. Demonstrate a strong understanding of the effects of a change in fiscal and monetary policy on the level of income and the exchange rate in a flexible exchange rate regime.
C. Understand, analyse and critically assess current macroeconomic problems widely addressed in the media such as unemployment, inflation, macroeconomic policy and exchange rate volatility.
D. Demonstrate critical awareness of the interrelationships between different macroeconomic policies that are also relevant to other areas of macroeconomics.
The module will operate on a lecture and tutorial based format. The lectures outline the fundamental foundations of macroeconomics, present the theory and examine the empirical evidence related to different models. In each tutorial there will be specific exercises and analyses to be carried out plus topics to be discussed.