ECON42430 Macroeconomic Theory

Academic Year 2022/2023

The focus of this module is on developing macroeconomic models that enable us to understand issues relating to stabilisation policy. The famous IS-LM model is introduced and used to analyse monetary and fiscal policies, with a particular focus on the small open economy.

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Curricular information is subject to change

Learning Outcomes:

On successful completion of this module, students should be able to understand the main problems facing governments and central banks in pursuing macroeconomic policy objectives, with particular reference to achieving a level of economic activity that maximizes employment and at the same time achieves a low rate of inflation.

Indicative Module Content:

IS-LM model
AS-AD model and stabilization policies
Phillips curve, monetary policy and credibility
Barro-Gordon model
Open economy and Mundell-Fleming model

Student Effort Hours: 
Student Effort Type Hours
Autonomous Student Learning








Approaches to Teaching and Learning:
Lecture in class: 2 hours per week
Enquiry & problem-based learning: Tutorials with assessment. The students need to give the solution of the tutorials in advance and they will be graded on them. During the tutorial, they will be provided feedback on their answers.
Debates and case-based learning: Students will be presented with real economic examples and they will be asked to debate on whether the models described in class can explain those examples. 
Requirements, Exclusions and Recommendations

Not applicable to this module.

Module Requisites and Incompatibles
ECON20020 - Intermediate Macroeconomics

Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Continuous Assessment: Attendance and homeworks in tutorials Throughout the Trimester n/a Graded No


Class Test: One-hour test (Evening, out of class) Week 6 n/a Alternative linear conversion grade scale 40% No


Examination: Two-hour MCQ and exercises 2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No


Carry forward of passed components
Resit In Terminal Exam
Summer Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Online automated feedback

How will my Feedback be Delivered?

The students will receive group feedback after they deliver their assessment for the tutorials through their tutors and based on their assessment. This will happen five times during the semester.

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 31, 32, 33 Fri 12:00 - 12:50
Lecture Offering 1 Week(s) - 20, 21, 23, 24, 25, 26, 29, 30, 32, 33 Mon 15:00 - 15:50
Tutorial Offering 2 Week(s) - 21, 23, 25, 29, 31 Tues 11:00 - 11:50
Tutorial Offering 3 Week(s) - 22, 24, 26, 30, 32 Wed 10:00 - 10:50
Tutorial Offering 5 Week(s) - 22, 24, 26, 30, 32 Wed 12:00 - 12:50