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Economics

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Intermediate Economics B

Module Code: ECU22012

Module Title: Intermediate Economics B

  • ECTS Weighting: 5
  • Semester/Term Taught: Semester 2
  • Contact Hours: 22 hours of lectures and 8/10 hours of tutorials
  • Module Personnel: Lecturer - Professor Davide Romelli

Module Learning Aims

This module aims to:

  • provide those with a fundamental level of economics with the required foundation in macroeconomic analysis/theory necessary for tackling more advanced economic policy and economic theory modules
  • provide the core building block for degree programmes specializing in economics, such as single or joint honors economics
  • provide the appropriate economic tools and terminology for the explanation and interpretation of macroeconomic phenomena;
  • provide the generic theoretical concepts required for a critical analysis of real world economic issues; and,
  • facilitate the use of the clear and concise English that is required for economic reasoning and policy-making.

Module Learning Outcomes

Having completed this module (successfully), you will be able to:

  • describe, interpret and evaluate economic events through the application of macroeconomic analysis/theory;
  • formulate and address economic policy issues using the language and approach of macroeconomic analysis/theory;
  • set up and solve theoretical macroeconomic problems related to the topics in this module; and,
  • articulate economic reasoning and results.

Module Content

This module provides students with a broad overview of intermediate-level economic theory, covering macroeconomic theory. The material is built around the study of the behaviour of the economy as a whole. The approach is based on microeconomic foundations and progresses from individual maximization problems, as studied in the microeconomics module, to macroeconomic issues and issues confronting the aggregate economy.
Topics discussed include:

  • IS-LM Model;
  • AS-AD Model;
  • The Open Economy;
  • Long-Run Growth;
  • Inflation and Unemployment;
  • Expectations.

Recommended Reading List

Macroeconomics: A European Perspective, Fourth Edition, 2021, Blanchard, Amighini and Giavazzi, Pearson.

Module Pre Requisite

ECU11011 & ECU11012 Introduction to Economics or equivalent (e.g. ECU11031 & ECU11032 Introduction to Economic Policy) and ECU11021 & ECU11022 Mathematics & Statistics (or equivalent).

Module Co Requisite

ECU22011 Intermediate Economics A

Assessment Details

There will be a mid-term test taking place in teaching week 8 accounting for 30% of the overall grade. The final exam accounts for 60% of the overall grade, while continuous assessment will be worth 10%.

Module Website

Lecture notes and additional material will be made available on Blackboard.