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 Michael Wycherley / Lecturer - Professor Eleanor Denny
Having successfully completed this module, the student will be able to:
- Be actively conversant with the terminology of behavioural and experimental economics and macroeconomics; Design an economics experiment and analyse the resulting data; Interpret macroeconomic data;
- Synthesize a broad range of topics in modern behavioural economics 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 1: Macroeconomics: intertemporal consumption and labour supply; investment theory; money demand; the analysis of business cycles; monetary policy; fiscal policy.
Module 2: Behavioural and Experimental Economics: departures from standard economic models such as irrationality, prospect theory and hyperbolic discounting; choice architecture; experimental methods; and analysis techniques.
Recommended Reading List
No prescribed text, readings and cases will be provided by the lecturers throughout the module.
Module Pre Requisite
There will be a MT assignment and an HT assignment, each accounting for 15% of the overall grade. The annual examination accounts for 70% of the overall grade. Late submissions that have not been agreed in writing beforehand will be penalised 10% per day.
Macroeconomics: https://sites.google.com/site/wycherlm/ec3010 accessible directly or via Blackboard.
Behavioural and Experimental economics: Blackboard.