Objectives of Programme's Learning Outcomes

• Solve new problems
• Abstract and manipulate theories and use these to solve problems
• Adapt an argument to a similar situation
• Use knowledge from different fields to address issues
• Address literature and interact within other scientific fields
• Have a good knowledge of related fields using mathematics

Learning Outcomes of UE

This unit focuses on short to medium term open economy macroeconomics (determination of GDP, unemployment and inflation). It aims at enabling the students to :
- use the national accounts (including balance of payments and public finance data);
- master the behavioural underpinnings of macroeconomic equilibria (consumption, investment, money demand and supply, Taylor rule <i style="mso-bidi-font-style:normal">TR</i>);
- understand fix-price equilibria (<i style="mso-bidi-font-style:normal">IS/TR</i>; Mundell-Fleming under fixed and floating exchange rates) and flex-price equilibria (Phillips curve, aggregate demand and supply);
- apply the notions above to current economic policy issues  (especially fiscal and monetary policy).

Content of UE

See learning activity.

Prior Experience

Not applicable.

Type of Assessment for UE in Q2

• Presentation and/or works
• Written examination

Q2 UE Assessment Comments

Multiple choice questions (60%); open questions (40%). Optional paper at the beginning of the term.

Type of Assessment for UE in Q3

• Written examination

Q3 UE Assessment Comments

See term 2. The marks of the optional paper are carried over.