Economic Analysis
Module Code: EC3010
Module Title: Economic Analysis
- ECTS Weighting: 10
- Semester/Term Taught: Michaelmas + Hilary Term
- Contact Hours: 44 hours of lectures and 10 hours of tutorials
- Module Personnel: Lecturer - Professor Andrew Somerville / Lecturer - Professor Michael Wycherley
Learning Outcomes
Having successfully completed this module, the student will be able to:
- Be actively conversant with the terminology of microeconomics and macroeconomics; Interpret macroeconomic data;
- Synthesize a broad range of topics in modern microeconomics and macroeconomics.
Module Learning Aims
This module builds on the foundations of EC2010 Intermediate Economics, developing some of the topics from that module, and introducing some new ones.
Module Content
Module 1: Microeconomics: topics include general equilibrium and welfare; consumer's surplus, and extensions; risk and insurance; the portfolio problem; intertemporal choice; business financial decisions; Modigliani and Miller theorems on capital structure.
Module 2: Macroeconomics: intertemporal consumption and labour supply; investment theory; money demand; the analysis of business cycles; monetary policy; fiscal policy.
Recommended Reading List
Microeconomics: Varian, H.R., (2010), Intermediate Microeconomics (8th edn.). (New York: Norton); Varian, H.R., (1992), Microeconomic Analysis (3rd edn.). (New York: Norton); Gravelle, H., and R. Rees (2004), Microeconomics (3rd edn.). (London: Prentice Hall); Cowell, F.A., (2006), Microeconomics, (Oxford University Press).
Macroeconomics: Sorensen, Peter and Whitta-Jacobsen, Hans (2010), Introducing Advanced Macroeconomics: Growth and Business Cycles (2nd edn.). (McGraw Hill).
Module Pre Requisite
EC2010
Assessment Details
There will be two term tests each accounting for 10% of the overall grade. The annual examination accounts for 80% of the overall grade.
Module Website
Microeconomics: http://www.tcd.ie/Economics/staff/rsomrvll/
Macroeconomics: https://sites.google.com/site/wycherlm/ec3010