- Module Code:
- Year of study:
- Year 2, Year 3 or Year 4
- Taught in:
- Full Year
The aim of the course is to provide a critical overview of various contributions to mainstream macroeconomic theory. It aims to shed light on how debates have evolved in the context of an analysis of short-run fluctuations and the analysis of growth. It also seeks to introduce students to alternative macroeconomic theories, broadly classed together as heterodox macroeconomics propositions. As such, the course has the explicit aims to teach macroeconomics from a lens provided by the history of economic thought and to introduce the students to a set of topics from pluralist macroeconomics.
Objectives and learning outcomes of the module
On successful completion of the course, a student should be able to demonstrate the ability to:
- have a basic understanding core contributions to mainstream macroeconomic theory, both for short- and long-run analyses of macroeconomic processes.
- summarize major contributions to mainstream macroeconomic theory with sufficient technical proficiency.
- have a basic critical awareness of the distinct nature of heterodox alternatives to mainstream macroeconomic analyses.
- have a critical understanding of the core assumptions underlying competing approaches to macroeconomic modelling, such as Neoclassical, Monetarist, New Keynesian, Post Keynesian and Marxist approaches.
- understand and critically evaluate the policy implications of competing theoretical models of the macroeconomy.
- critically comment on current macroeconomic debates.
Method of assessment
Assessment weighting: Exam 70% / Coursework 30% (two essays of 2,500 words worth 15% each). Resubmission of coursework regulations do not apply to this course.