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ECONOMICS

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EC 2503
INTERMEDIATE MACROECONOMICS
CREDIT POINTS 30

Course Co-ordinator: Dr W D McCausland

Pre-requisite(s): EC 1505.

Macroeconomics is the branch of economics that seeks to answer such high level questions as: What determines the level of aggregate income? Through what channels is it influenced by the fiscal policy of national governments and the monetary policies of central banks? What determines the effectiveness of fiscal and monetary policies, and how do exchange rate regimes and capital mobility impact on policy effectiveness. What determines the level of macroeconomic activity and its growth or decay over time? What determines inflation and unemployment?

This course will equip you with the principles you need to make sense out of the conflicting and contradictory discussions and policies. It is designed to meet the interests of those wishing merely to take a further course in economics as well as those intending to proceed to honours. This course builds on, and is a natural extension of The Global Economy (EC 1505). It will further develop your analytical skills, and will investigate in a more rigorous and analytical way concepts introduced in EC 1505, so that you are able to study interesting and challenging problems in the global economy.

3 one-hour lectures per week (Tue 15:00, Thursday 12:00 and 15:00), 1 one-hour tutorial every two weeks, and 2 one-hour computer workshops in weeks 35 and 36.

1st Attempt: 1 two-hour examination (70%); continuous assessment (30%) consisting of a piece of computer aided assessment (20%) and a graded tutorial presentation (10%).

Resit: 1 two-hour written examination (100%).