National income accounting; theories of growth; the government budget, fiscal and monetary policies in the short-run; balance of payments and exchange rates; international monetary regimes and domestic stabilization policies; wage-price flexibility and adjustment to macroeconomic shocks; unemployment, inflation, and the natural rate; monetary policy, dynamic inconsistency, and credibility; microfoundations of sticky wages and prices; microfoundations of aggregate consumption; the quantity theory of money and monetarism.

The aim of the module is to familiarize the student with the tools of macroeconomic analysis and show how these tools can be applied in macro-policy issues. Upon successful completion of the course students should be able to build alternative macroeconomic models; apply analytical reasoning to derive and compare their main predictions; conceptualize actual macroeconomic questions by means of these models; and evaluate critically alternative macroeconomic policies.

The module contributes towards the key skills of problem solving, numeracy, communication, and time management.

Employability skills include: Academic skills: literacy, numeracy and ICT skills, research, information and communication skills. Professional working skills: adaptability; flexibility, decision-making.
External awareness: knowledge of work, creativity and originality.
Personal development planning: Time management, target setting and action planning, self management, reflection and evaluation.