This module provides students with an introduction to macroeconomic theory and will allow the student to both specialize in the field itself or understand its use in the various other fields of economics. The key aim is for students to acquire a solid grounding in macroeconomic theory. We thus provide and discuss the basic insights of modern macroeconomics, using building blocks from microeconomics. We analyze perfect and imperfect competition in a general equilibrium setting, the role of capital, consumption, investment, and accumulation, as well as the more recent developments on firm heterogeneity, multi-product firms, and multinational firms in a global perspective and the related implications for location (geography and agglomeration) and the institutional framework.
A Critically appraise the basic macroeconomic characteristics of the World Economy
B Apply the building blocks of macroeconomic analysis
C Critically review sectoral allocation and the role of capital and capital accumulation
D Demonstrate knowledge of the main differences between perfect & imperfect equilibrium frameworks and apply this in research
E Critically evaluate the main differences between neoclassical and endogenous growth
F Assess the role of location and geography in economic interaction
G Critically evaluate the role of economic institutions and their implications for the economy
H Demonstrate the ability to reproduce empirical results in published research.
Weekly lectures and tutorials with practical exercises and assignments