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Department of Economics

Intermediate economic analysis

Course Code:
153400107
Unit value:
1
Year of study:
Year 2
Taught in:
Full Year

This course seeks to shed some light on how the analytical debates have evolved within mainstream macroeconomics. It documents how the original division between the ‘Classics’ and Keynes has been reproduced under various forms throughout post-war macroeconomic theory, and sets out to examine more closely how that has happened, in response to which developments in the economy, and to assess the extent to which these particular contributions allow to account for observed economic phenomena.

Particular attention is given to issues of method and to the political-economic and intellectual environment in which certain theories gained ascendancy. The latter touches upon the prescriptions for the role of the state emerging out of the various theoretical propositions. At the end of the course the set of critical remarks raised throughout are brought together in an attempt to move beyond the confines of mainstream economic analysis.

This course is a prerequisite for Advanced Economic Analysis. It is a compulsory and core course for students taking BSc Economics.

Prerequisites

15 340 0003 - Introduction to Economic Analysis AND 15 340 0120 - Introduction to Quantitative Methods, OR 15 340 0121 - Quantitative Methods for Economists

Objectives and learning outcomes of the course

To raise student's understanding of general economic analysis above the level of the Introduction to Economic Analysis course and allow them to start accessing professional literature.

Method of assessment

Assessment weighting: Exam 80% / Coursework 20%. Resubmission of coursework regulations do not apply to this course. Please note: BSc Economics students who fail Intermediate Economic Analysis will be obliged to either swap to BSc Development Economics or take a leave of absence and re-take the exam the following year.

Suggested reading

  • Hal R Varian, Intermediate Microeconomics: A Modern Approach, 6th Edition, 2003.
  • Saul Estrin and David Laidler, Introduction to Microeconomics, 4th Edition, 1995.
  • 'Introduction', p.1-6 in Hillier, B, The Macroeconomic Debate. Models of the Closed and Open Economy, Oxford and Cambridge: Basil Blackwell, 1991
  • Chapter 1, p.1-31 in Snowdon, B, Vane, P. and Wynarczyk, P. Modern Guide to Macroeconomics, Edward Elgar, 1994

The main texts that recur most frequently throughout the course are listed below. No single particular textbook however is used:

  • Carlin, W. and Soskice, D., Macroeconomics and the Wage Bargain, Oxford: Oxford University Press, 1990
  • Chrystal, A. and Price, S., Controversies in Macroeconomics, Hertfordshire: Harvester Wheatsheaf, 1994
  • Green, F. and Nore, P. (eds.), Economics. An Anti-Text, London: MacMillan, 1977.
  • Helleiner, E., States and the Reemergence of Global Finance. From Bretton Woods to the 1990s, New York: Cornell University Press, 1994
  • Hillier, B, The Macroeconomic Debate. Models of the Closed and Open Economy, Oxford and Cambridge: Basil Blackwell, 1991
  • Snowdon, B, Vane, P. and Wynarczyk, P. Modern Guide to Macroeconomics, Edward Elgar, 1994
  • Trevithick, J. A., Involuntary Unemployment. Macroeconomics from a Keynesian Perspective, London: Harvester Wheatsheaf, 1992