Course Catalogue

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This course provides an overview of the determinants of long-run economic growth and the role of economic policy in achieving sustainable growth. Macroeconomic theory as well as time-series and cross-sectional data are employed to illustrate the various concepts covered. The course is comprised of 5-units: (i) Measuring the macroeconomy; (ii) Overview of long-run economic growth; (iii) Production model; (iv) Solow model; and (v) Romer model. Active applications of the theory and data are encouraged through a variety of asynchronous and synchronous activities.

One 2-hour lecture per week for 10 weeks.

Students must be registered on one of the associated programmes listed in this course specification.

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ILO(s)

Macroeconomics aims to introduce students to modern long-run macroeconomic theory and policy. It thus provides insights into cross-country trends including: (i) per capita output and its growth; (ii) total factor productivity; (iii) demographic and health data; (iv) physical and human capital; and (v) income and wealth inequality.

By the end of the course students will be able to:

1. Evaluate the importance of macroeconomic data in understanding how economic growth has dramatically changed global welfare and why the gains have not been evenly distributed across countries.

2. Assess the importance of physical and human capital accumulation as well as the role of new ideas in determining economic growth.

3. Apply the tools required to set up and solve simple models of long-run economic growth.

4. Evaluate the role of economic policy in helping or hindering sustained growth.

Critically assess the usefulness of growth models for understanding what determines the wealth of nations

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.