Module Code - Title:
EC6091
-
MACROECONOMICS FOR POLICY-MAKING
Year Last Offered:
2025/6
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
This module aims to provide students an appreciation of the theory and empirics necessary to examine the international macro economy and to explore the key issues that are shaping our global economy. The topics covered provide the student with the tools to understand and analyse some of the main macroeconomic issues confronting policymakers.
Syllabus:
The syllabus is designed to expose students to the key theoretical aspects of macroeconomics relevant to policy making as well as analysing the contemporary global economic environment. The range of topics to be undertaken is outlined below. The module includes external invited speakers' and adjunct professor presentations, particularly with regard to topic 6 below.
1: Revision of key terminology and concepts within intermediate level macroeconomics
2: Review of macroeconomic growth models, their estimation and flaws
3: Macroeconomics and public policy: How budgets are made, how fiscal policy works in practice, tools to build better policies, debt dynamics.
4: Economic Growth and Distribution
5: Monetary Policy in the EMU and the global inflation outlook
6: Contemporary topics in the global economy
7: The Macroeconomics of climate change
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module, students will be able to:
1. Interpret macroeconomic data;
2. Explain the main factors determining the process of economic development and growth;
3. Demonstrate an understanding of the current economic issues and challenges facing the global economy
4. Apply economic theory to facilitate an in-depth understanding of issues confronting the global economy
Affective (Attitudes and Values)
On successful completion of this module, students will be able to:
1. Communicate and present complex arguments in written form with clarity and succinctness.
2. Develop critical thinking abilities, including the mastery of economic concepts and techniques
3. Appreciate the complexity of international economic policymaking
Psychomotor (Physical Skills)
On successful completion of this module, students will be able to:
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
This module will be delivered using standard lectures. Lectures will focus on teaching through real-world macroeconomic problems, relating theory to the macro policy making. Guest speakers may also be involved within the deleivery to help relate contemporary macroeconomic issues to policy practice.
The University of Limerick Graduate Attributes will be developed by: Broadening students' knowledge and proactivity through encouraging independent and directed research; emphasising student's responsibility to organise their time in an efficient manner and to work to specific deadlines.
The module will draw from recent policy developments and published research in the relevant topics to help extend student's understanding.
Research Findings Incorporated in to the Syllabus (If Relevant):
Prime Texts:
Foley, D. K. and Tavani, D (2019)
Growth and distribution
, Harvard University Press
Wildavsky, A. (2017)
Budgeting and governing
, Routledge
Field, B. C. (2020)
Environmental economics: an introduction
, McGraw-Hill Book Company (UK) Ltd.
Leamer, E. (2008)
Macroeconomic patterns and stories.
, Springer
Other Relevant Texts:
Ó Gráda, C., & O'Rourke, K. H. (2022)
The Irish economy during the century after partition
, The Economic History Review, 75(2), 336-370.
Vines, D., & Wills, S. (2018)
The rebuilding macroeconomic theory project: an analytical assessment
, Oxford Review of Economic Policy, 34(1-2), 1-42.
Programme(s) in which this Module is Offered:
MSECPATFA - ECONOMICS AND POLICY ANALYSIS
MSEPLITFA - ECONOMICS AND POLICY ANALYSIS (DOUBLE DEGREE)
Semester(s) Module is Offered:
Autumn
Module Leader:
stephen.kinsella@ul.ie