HEQF credits: 18
HEQF course level: 7
Third year‚ first semester course‚ 4 lectures per week and workshops per week.
Students must have completed ECO2003F and ECO2004S; STA1000S and STA1001F or equivalent e.g. MAM1010F.
This is a compulsory core module for all students taking Economics programmes. The course is divided into (i) microeconomics and (ii) macroeconomics. Microeconomics covers general equilibrium analysis under perfect competition and market failure (externalities, public goods and imperfect information). Welfare economics is also discussed.The macroeconomics module is developed using micro foundations. It first covers explanations for the business cycle in a closed economy with money. The basic market-clearing model is then relaxed to account for sticky prices and Keynesian effects. The course then focuses on an open monetary economy with foreign trade, capital flows and an exchange rate. The course also reviews the experience of the 2008 international financial crisis.
Lecture times: 2nd and 3rd period.
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 : 27 Mar 2017