Latest Module Specifications
Current Academic Year 2025 - 2026
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Description 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 sustainableperformance. 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Learning Outcomes 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml |
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Indicative Content and Learning Activities
Recap: Revision of fundamental macroeconomic indicators covered in Introduction to Macroeconomics; a brief analysis of long run economic growth patterns in high, middle and low income economies; role of economic growth in reducing poverty Market for Goods and Services: Analysis of expansionary fiscal policy, using AD/AS model; applications of expansionary fiscal policy in high, middle and low income economies; role of expansionary fiscal policy in meeting SDGs; role of supply side economics in meeting SDGs Market for Money: Analysis of demand for money; money supply and the role of the central bank in high, middle and low income economies; role of the World Bank in supporting sustainable economic growth Market for Labour: using demand and supply to analyse the operations of the labour market; labour market structures and regulations; the non-accelerating inflation rate of unemployment; policies to influence the actual and natural unemployment rates Policy Mix: Analysis of the importance of the policy mix, using AD/AS analysis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Indicative Reading List Books:
Articles:
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Other Resources None | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||