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On successful completion of the module, students should be able to:
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Explain key concepts relating to macroeconomic phenomena such as business cycle fluctuations, monetary and fiscal policies, inflation and unemployment, and long-term economic growth
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Demonstrate an understanding of the distinction between real and nominal macroeconomic variables and its importance in macroeconomic analysis
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Differentiate between the short, the medium and the long run time frames in macroeconomic analysis
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Identify the conditions required for macroeconomic equilibrium in the short and medium run
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Demonstrate how macroeconomic equilibrium is restored following a shock
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Evaluate the effects of monetary and fiscal policies on output, the interest rate and the price level
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Explain the principal determinants of long run economic growth and, in particular, the respective roles of capital accumulation and technological progress
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