EC5206 - Macroeconomic Policy

Changes to the interest rate or government expenditure levels intend to change business and consumer behaviour. The sought-after skill to correctly anticipate such changes requires an in-depth knowledge of monetary and fiscal policy, which this subject provides. The subject evaluates the views of various schools of thought on the desirability of conducting monetary and fiscal policy using current real world policy dilemmas. The subject provides important skills to students in economics, to students interested in international trade and to students interested in banking and finance.

Learning Outcomes

• show advanced and integrated knowledge of theoretical models to demonstrate the effects of fiscal and monetary policy in a closed or open economy;
• critically evaluate the trade-offs that governments and central banks must negotiate when conducting fiscal and monetary policy and predict their decisions;
• identify, analyse and interpret macroeconomic (national accounts) data for a selected country to produce advanced-level advice on the appropriateness of its current fiscal and monetary policy stance.

Subject Assessment

• Written > Examination (centrally administered) - (35%) - Individual
• Written > Test/Quiz 1 - (30%) - Individual
• Oral > Presentation 1 - (35%) - Individual.

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.