Macroeconomics

This course is an intensive and critical exploration of ‘Macroeconomics’, which is the branch of economics that studies economic aggregates – in particular, over-all levels of prices, output, and employment in the economy.  Students are expected to solidify their understanding of ‘workhorse’ economics models that explain: the determination of output, employment, unemployment, interest rates, and inflation; the process of economic growth; the dynamics of international trade; and the workings of financial markets. Topics will be treated from a theoretical, mathematical and applied standpoint. As an intermediate course, emphasis will be given to: relevant mathematical derivations of the models; linking the models to real world issues of contemporary relevance; and fostering opportunities for actual engagement with relevant economic data and policies. While consolidating students’ understanding of core concepts in Macroeconomics, it provides a pluralistic view of the field by critically examining the ideational roots, relevance, applicability and limitations of key ideas. The ultimate objectives are to bridge the students’ theoretical and factual knowledge of current economic issues, and to help them gain an understanding of real-world macroeconomic policies and their effects.
 

Format
The course program follows a textbook reference, and companion reading assignments to interrogate the material covered by the reference. Every week, a lecture is given pertaining to a specified topic. There will be periodic seminar sessions in which ideas covered in the lectures are processed further and interrogated through discussions; assigned student presentations and problem sets; and small group learning activities.