Macroeconomics Summary

Description

The overall objective of this subject is to provide students with an integrated neoclassical approach to address substantive macroeconomic questions so as to improve their critical thinking and analytical skills and enhance their understanding of aggregate economic behaviour. - Understand the development of macroeconomic thought and major macroeconomic theories. - Use the life cycle model to explain economic growth and identify important factors that lead to income differences across countries. - Analyse and simulate the dynamic responses of economic aggregates following changes in productivity, population, economic policies, and so on. - Extend the life cycle model to include fiscal policy and money to analyse the short-run and long-run economic effects of certain fiscal and monetary policy. - Use a two-country life cycle model to analyse important questions related to international trade and open economy.