| CODE | ECN2230 | ||||||||
| TITLE | Macroeconomics for Finance | ||||||||
| UM LEVEL | 02 - Years 2, 3 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 5 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Economics | ||||||||
| DESCRIPTION | This study-unit takes a deeper look at the theory of economic output from a short run, medium run as well as long term perspective. The approach is theoretical with the theory being limited to algebraic expressions. The aim of this study-unit is to allow students to develop a good understanding of macroeconomic theory with a special focus on the goods market, financial markets, fiscal and monetary policy analysis in both the short and medium run and the impact of incorporating expectations within macroeconomic analysis. - The Crises of 2007-2010 - National Accounting - The Goods Market - The Financial Market - Interest rate determination with Financial Intermediaries - The IS-LM Model - The Labour Market - The AS-AD model - Expectations and the Financial Markets - Expectations, Consumption and Investment - Expectations, Output and Policy Study-Unit Aims: The study-unit commences with an assessment of the financial crises of 2007-2008 which aims to demonstrate the direct application of the theories which will be covered throughout the study-unit. The unit subsequently focuses on understanding of how the goods, labour and financial markets operate in an economy and applies the understanding of the theories covered to major historical events with respect to each of these markets. Subsequently the study-unit aims to undertake an indepth analysis that the impact that the inclusion of rational expectations can have on the analysis of the markets covered. This will be undertaken via the application of various models which have been developed over the more recent years. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Understand how the goods, labour, financial markets operate in an economy. - Understand any major historical events with respect to each of these markets. - Understand the importance of macroeconomic development in an economy. - Understand the historical development of major macroeconomic theories. - Appreciate the development of economic activity particularly within Malta and the EU over a specific period of time. - Apply the knowledge gained over the course of the module to better understand the unfolding of the financial crises of 2007-2010. 2. Skills: By the end of the study-unit the student will be able to: - Understand short term movements in the economy. - Collate data on the main economic indicators and analyze such data. - Undertake more objective and critical assessment of current economic development. - Assess current economic developments in light of the major macroeconomic theories. - Undertake more objective and critical assessment of current economic developments. Main Text/s and any supplementary readings: Main Text: - Blanchard, Amighini & Giavazzi, (2013) ,"Macroeconomics: A European Perspective ", Second Edition, Pearson Education Limited. Supplementary Readings: - Krugman & Wells (2012), "Macroeconomics", third edition, Worth Publishers. Articles from periodicals and academic journals to supplement the textbook readings will be provided. |
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| ADDITIONAL NOTES | Pre-requisite Study-unit: ECN1021 | ||||||||
| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Philip Von Brockdorff |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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