HEQF credits: 18
HEQF course level: 6
Second year‚ second semester‚ 3 or 4 lectures and 1 or 2 tutorials/workshops per week.
ECO1010F/S/H/X and ECO1011F/S and STA1001F/H or MAM1002W/X, or MAM1010F/S or MAM1012F/S or MAM1004H or MAM1005H or MAM1006H. A student will be permitted to take ECO2004S without having passed ECO2003F, although it is desirable to pass ECO2003F prior to taking ECO2004S.
The course builds upon ECO1011S and aims to provide students with the analytical tools and formal models to explain the behaviour of output, inflation, employment, interest rates and other economic aggregates. These tools are used to understand current economic issues, forecast the behaviour of the economy, and assess the impact of policy choices. Specifically, the course starts with analysing the short run behaviour of the economy through the IS-LM model (building on the Keynesian model introduced in the first year) before it moves on to consider the medium run through the AS-AD model. Finally, it looks at the factors that influence long run growth using the Solow growth model. Analysis of the open economy, such as trade and exchange rate regimes is also undertaken.
Course information is disseminated by means of hand–outs‚ announcements at lectures and the notice board and Vula. It is the student’s responsibility to be familiar with all course information.
Last updated : 19 Feb 2018