Dublin City University
Area of Study
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits2
Recommended U.S. Quarter Units3
Hours & Credits
The purpose of this module is examine and critically assess a number of models that set out to explain macroeconomic performance, i.e., the determination of output, inflation and unemployment. In turn, these assessments contribute to a view as to the usefulness of monetary and fiscal policies as a means of achieving improved economic performance. The models considered range from short-run to long-run models but the primary focus is on short-run and medium-run models of the economy. A key underlying consideration is the importance of the expectations of economic agents and the signals given by policy makers in the adjustment from one equilibrium to another. The module is delivered through a combination of lectures and tutorials with some online activities.
1. explain how equilibrium is determined in short and medium run macroeconomic models, and assess the conclusions of these models for macroeconomic policy.
2. compare and contrast the analytical approaches of the New Classical and New Keynesian traditions and their policy implications
3. show how the concept of rational expectations has impacted on our understanding of how economies respond to changes in factors affecting economic performance
4. identify drivers of economic growth and explain their role within the context of exogenous and endogenous growth models
5. critically appraise macroeconomic policy-making both at the state and at the international level