BS2549: Macroeconomic Theory - Cardiff University

This module, BS2549: Macroeconomic Theory provides students with a comprehensive foundation in macroeconomics, equipping them with the knowledge and analytical tools to understand key concepts, principles, theories, and techniques. A central focus of the module is on models of the business cycle, enabling students to analyse and differentiate between Classical and Keynesian perspectives, understand determinants of saving, investment, and employment, and explore factors driving long-term economic growth. Additionally, the module delves into recent developments in consumption, investment, and asset demand analysis, offering a thorough grounding in contemporary macroeconomic thought.

The syllabus covers a wide range of topics, including productivity, output, and employment; consumption, saving, and investment in both closed and open economies; and the analysis of business cycles using Classical, Real Business Cycle, and New Keynesian models. It also examines the macroeconomics of wage and price rigidity, the role of macroeconomic policies, and the determinants of long-term growth. Further topics include monetary policy, money supply, and government budgeting, as well as the implications of exchange rates in open economies. Students will develop a nuanced understanding of the asset market, household decision-making regarding consumption and saving, and the interaction between fiscal and monetary policy, ensuring a well-rounded grasp of macroeconomic theory and practice.