This course introduces the student to methods and issues in contemporary macroeconomics. A good understanding of the various macroeconomic issues and models is vital for any student of economics, business and finance. A central theme is the inter-relationship between empirical macroeconomic outcomes and theoretical constructs for explaining or understanding these outcomes. These models can also be used to understand and re-invent macroeconomic policies. In this course we also aim to bring the themes in undergraduate macroeconomic studies closer to what is taught in graduate courses, and also closer to how macroeconomics is done in the best universities and policy institutions such as the U.S. Federal Reserve, the International Monetary Fund, the European Central Bank, Bank of England, the Reserve Banks of New Zealand and Australia.

On completion of the course, students should be able to:

• Possess a coherent set of ideas for understanding macroeconomic phenomena and policy issues
• Understand the assumptions, structure and micro-foundations of a macroeconomic model and understand its power and shortcomings
• Formulate a relevant model and use such analytical tools in addressing a key macroeconomic question independently
• Understand the different ways in which economic issues can be tackled.

A combination of tutorial problem sets, in-tutorial tests, a mid-term examination and a final examination.

Two/Three hours of lectures and a one-hour tutorial each week throughout the semester.

ECON1101 Microeconomics 1, and ECON1102 Macroeconomics 1 or ECON1100 Economics 1 (H)

Please refer to Course Website