10 cp Prerequisites ECON103 Macroeconomics 1 Teaching Organisation 3 hours per week for twelve weeks or equivalent.
This unit is an extension of the macroeconomic analysis undertaken in ECON103. Monetary and fiscal policies are examined in detail including the impact they have on the economy and individuals and businesses in the economy. Economic models such as aggregate demand and aggregate supply and the IS-LM analysis will be used to understand the operation of the economy, including the effects of economic policies on economic growth and exchange rates. Alternative taxation policies and how they work in theory and practice will be evaluated.