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Module Overview
This module explores advanced topics in macroeconomics, offering a deep dive into key issues such as economic growth, business cycles, unemployment, inflation, and fiscal and monetary policy. Students will examine the role of expectations, general equilibrium models, and open economy macroeconomics. Core frameworks, including the Solow growth model, IS-LM analysis, and New Keynesian models, are studied in detail. The module also integrates contemporary debates on macroeconomic stabilisation and global economic trends, preparing students to critically evaluate policy impacts and economic developments.
Learning Outcomes
Upon completing this module, students will be able to:
- Analyse the drivers of economic growth and their implications for policy-making.
- Examine the causes and effects of business cycles, unemployment, and inflation.
- Apply key macroeconomic frameworks, including the Solow growth model, IS-LM analysis, and New Keynesian models.
- Evaluate fiscal and monetary policy tools in achieving macroeconomic stability.
- Assess the impact of global economic trends and open economy dynamics on national economies.
Module Overview
This module focuses on the application of econometric techniques to analyse economic data, bridging theory and practice. Key topics include regression analysis, hypothesis testing, time-series models, panel data analysis, and forecasting methods. Students gain practical experience using econometric software such as Stata, R, or EViews. The emphasis is on interpreting results and applying quantitative techniques to address real-world economic challenges, including policy analysis, risk assessment, and financial modelling.
Learning Outcomes
Upon completing this module, students will be able to:
- Apply econometric techniques, such as regression and hypothesis testing, to economic data.
- Analyse and interpret time-series and panel data models effectively.
- Use econometric software like Stata, R, or EViews for data analysis and forecasting.
- Conduct quantitative analyses to address issues in policy-making, financial modelling, and risk assessment.
- Critically evaluate the results of econometric models and their relevance to real-world economic problems.
Module Overview
This module explores the principles and policies governing international trade and finance, providing students with a comprehensive understanding of global economic interactions. Topics include trade theories such as comparative advantage and the Heckscher-Ohlin model, as well as trade policies like tariffs and quotas. Students will examine exchange rate systems, balance of payments, and the dynamics of global trade agreements and regional integration (e.g., EU, NAFTA). The course also addresses the impact of globalization on economic development, focusing on international capital flows, foreign direct investment (FDI), and the role of international financial institutions in shaping global trade and finance.
Learning Outcomes
Upon completing this module, students will be able to:
- Understand and apply core theories of international trade, including comparative advantage and the Heckscher-Ohlin model.
- Analyse trade policies such as tariffs, quotas, and their effects on global markets.
- Evaluate the functioning of exchange rate systems and balance of payments in international finance.
- Assess the role of global trade agreements and regional economic integration in shaping trade dynamics.
- Examine the impact of globalization, international capital flows, and FDI on economic development.
Module Overview
This module examines critical economic issues faced by developing countries, including poverty, inequality, population growth, and human capital development. Students will explore theories of economic development, structural transformation, rural-urban migration, and sustainable development strategies. The module incorporates real-world case studies to evaluate policy interventions, the impact of foreign aid, and the role of institutions in fostering economic growth and poverty reduction. Through analysis of these topics, students gain a comprehensive understanding of the challenges and opportunities in economic development.
Learning Outcomes
Upon completing this module, students will be able to:
- Understand key theories and concepts of economic development.
- Analyse the causes and consequences of poverty, inequality, and population growth in developing countries.
- Evaluate the processes of structural transformation and rural-urban migration.
- Develop sustainable development strategies for addressing economic and environmental challenges.
- Assess the effectiveness of policy interventions, foreign aid, and institutional roles in promoting economic growth and reducing poverty.
This module examines the theoretical foundations and practical applications of monetary policy, focusing on its role in stabilizing economies. Key topics include money supply and demand, interest rate determination, inflation targeting, and central bank operations. Students explore contemporary challenges such as digital currencies and financial stability. Case studies on major central banks, including the Federal Reserve and the European Central Bank, provide real-world insights into the implementation and effectiveness of monetary policy.
Learning Outcomes
Upon completing this module, students will be able to:
- Understand the principles of money supply, demand, and interest rate determination.
- Analyse the mechanisms and objectives of inflation targeting and central bank operations.
- Evaluate the role of monetary policy in economic stabilization and growth.
- Examine contemporary challenges in monetary policy, including the rise of digital currencies and maintaining financial stability.
- Apply theoretical concepts to case studies of major central banks, such as the Federal Reserve and the European Central Bank.
- Critically assess the effectiveness of monetary policy in addressing economic and financial challenges.
Module Overview
This module provides an in-depth introduction to financial markets, instruments, and investment theories. Key topics include asset pricing models, risk and return analysis, portfolio theory, and the efficient market hypothesis. Students explore the role of financial intermediaries, derivatives, and market regulation, with a focus on their interaction with the macroeconomy. The module also examines financial crises, systemic risks, and their implications for global financial stability, equipping students with a comprehensive understanding of financial markets and investment decision-making.
Learning Outcomes
Upon completing this module, students will be able to:
- Understand the fundamental concepts of financial markets, instruments, and investment theories.
- Analyse asset pricing models and risk-return relationships in investment decisions.
- Apply portfolio theory and evaluate the implications of the efficient market hypothesis.
- Assess the role of financial intermediaries, derivatives, and regulatory frameworks in financial markets.
- Examine the interaction between financial markets and macroeconomic factors, including financial crises and systemic risks.
Module Overview
This module explores the role of government in the economy, focusing on the provision of public goods, taxation, externalities, income redistribution, and welfare economics. Students will analyze how fiscal policies influence resource allocation, equity, and economic efficiency. Through case studies on public policy issues such as healthcare, education, and environmental regulation, the module highlights the trade-offs and challenges involved in policy-making. It equips students with the analytical tools needed to evaluate and design effective public policies.
Learning Outcomes
Upon completing this module, students will be able to:
- Understand the economic rationale for government intervention in markets.
- Analyse the provision of public goods and the effects of taxation and redistribution policies.
- Evaluate the impact of externalities and welfare economics on resource allocation and economic efficiency.
- Assess the trade-offs in public policy-making through case studies on healthcare, education, and environmental regulation.
- Critically examine the effectiveness of fiscal policies in addressing equity and efficiency objectives.
Module Overview
This module examines the economic aspects of environmental issues and policies, focusing on the tools and strategies needed to address global environmental challenges. Topics include market failure, externalities, and environmental valuation techniques. Students will explore approaches to climate change mitigation, sustainable resource management, and pollution control, emphasising regulatory and market-based instruments such as carbon pricing and cap-and-trade systems. Real-world case studies, including global environmental agreements and the economics of renewable energy, provide practical insights into environmental decision-making.
Learning Outcomes
Upon completing the module, students will be able to:
- Understand the economic principles underlying environmental issues and policies.
- Analyse market failures and externalities in the context of environmental challenges.
- Evaluate environmental valuation techniques for assessing resource and ecosystem services.
- Develop strategies for climate change mitigation and sustainable resource management.
- Assess the effectiveness of regulatory and market-based instruments in controlling pollution.
Module Overview
This module equips students with the skills and knowledge required to conduct independent economic research using advanced research methods. Key topics include formulating research questions, conducting literature reviews, designing research frameworks, and analysing data. Students will develop research proposals and apply both qualitative and quantitative methodologies. Practical sessions focus on using tools for data collection and analysis, with an emphasis on econometric software, preparing students for rigorous academic and applied research in economics.
Learning Outcomes
Upon completing this module, students will be able to:
- Formulate clear and researchable questions relevant to economic issues.
- Conduct comprehensive literature reviews to establish a research foundation.
- Design robust research frameworks incorporating qualitative and quantitative methods.
- Use econometric software for data collection, analysis, and interpretation.
- Develop and present detailed research proposals with actionable insights.
