Macroeconomics - EC213
Macroeconomics
EC213
- Outline Objective
Lecturer
This is an intermediate macroeconomics module dealing with the theory and practice of
macroeconomics. It builds upon the concepts and principles covered in first year
macroeconomics. The objective of the module is to understand, in more detail, the core
models in (short-run) macroeconomic theory and to learn how these theories can be
applied to various short-run policy issues, both domestically (Ireland) and in an
international (EU/eurozone) setting.
Name
Office
Ext
E-mail
Dr. Gerard
Turley
Room 205 St.
Anthony’s
building
3095
[email protected]
J.E. Cairnes School of Business and
Economics, NUI Galway
Day
Time
Venue
Group A
Lectures:
Tuesday
Tuesday
Thursday
11 – 12
3–4
12 – 1
Fottrell Theatre, ARTSMILL
Cairnes Theatre, Concourse
Fottrell Theatre, ARTSMILL
Group B
Lectures
Wednesday
Thursday
Thursday
5–6
11 – 12
3-4
Colm O hEocha Th, ARTSMILL
UC102 Aras Ui Chathail
O Tnuthail Th, ARTSMILL
Times
Upon completion of this module the student should be able to:
 Understand macroeconomic theory
 Understand what it is like to think like a macroeconomist
Overall Learning
Outcomes
 Build and formulate macroeconomic modules
 Develop an understanding of different macro schools of thought
 Apply the macro theory and models to policy-related issues
 Analyse various macroeconomic issues and problems
 Work (source, gather, interpret, use) with macro data
 Comprehend the macroeconomy (and macro policy) of Ireland and the eurozone
Format
Programme(s)
The module comprises 12 weeks (7 Jan – 27 Mar) of lectures, plus bi-weekly tutorials
2BC1 – 2BC5, 1EM1, 1OA1, 1OC5, 1UL1, 2BCA1, 4BF1, 1DB1, 3CL1, 4CL1
Gerard Turley | Macroeconomics | EC213
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Macroeconomics - EC213
Course Material
A cwebsite is available at www.nuigalway.ie/blackboard/
On Blackboard you will find the module outline, lecture notes, assignments,
announcements and other relevant material. Students are required to check Blackboard
regularly (at least once a week). Please note that lecture notes will be available only as
topics (see page 3) are covered in lectures. For those students who like to have lecture
slides at the start of the module, I will provide, on Blackboard, a semester-long short
template of lecture notes (a kind of roadmap) at the start of the semester.
1.
Assessment
Office Hours
Core Textbooks
End of Year Examination*
50%
A final exam in April/May 2013
2.
Coursework/Continuous Assessment (see details below) 50%
Comprising MCQ Exam (in March) and Assignments
[* 35 per cent rule = A min. of 35% is required in the final written examination before
marks for coursework may be included in the determination of the overall mark]
Wednesday 10 – 1 (to be confirmed)
The core textbook is The Macroeconomy of the Eurozone: An Irish Perspective (2003) by
Brendan Walsh and Anthony Leddin, published by Gill & Macmillan. Unfortunately as
the 2013 edition is not available until later this year we will be using the older 2003
edition. A small number of copies are available in the library. If you choose to buy this
textbook there are a number of options. A very small number of printed copies are
available in the bookshop, selling at about 49 euro. There are two cheaper options. One
is to buy a second hand copy of the 2003 edition. The other is to rent the e-version of it.
That can be done, online, and the cost is 30 euro. The website to purchase from is
www.coursesmart.co.uk and prices will only be listed in sterling. Payment must be made
by debit/credit cards. It works equally well on a PC and Mac and apps can be easily
downloaded
for
use
on
mobile
devises,
see
http://www.coursesmart.co.uk/go/int/uk/mobile
For additional readings, try Macroeconomics, (2011 edition) written by Rudiger
Dornbusch, Stanley Fischer and Richard Startz and published by McGraw Hill. There
are several copies in the library, of various editions. Online resources are available at
http://www.mhhe.com/dornbusch11e and use of this resource will greatly help
students with the module content.
Coursework/Continuous Assessment
50 per cent of the overall mark for the module will be given over to coursework, comprising a MCQ exam in March (date to
be confirmed but probably in Week 9) worth 20 per cent and two marked assignments (with details below).
Coursework
MCQ Exam
2 Assignments
Totals
20 per cent
30 per cent
Assignments are to be submitted to the Economics Department (more details later). No late submissions will be accepted.
Each of the two assignments will be marked on a 0 (awful standard), 3 (poor standard), 6 (ok standard), 9 (good standard),
12 (very good standard) and 15 (excellent standard) scale. The plan is to have the two assignments due at different times of
the semester, one earlier (planned for Week 4) and one later (planned for Week 10), with the MCQ exam timetabled at a
different date (Week 9, probably). This is subject to change.
Tutorials
In addition to formal lectures, students are required to attend tutorials. The tutor is Tom Pierse. Each session is of one
hour’s duration. Students sign up for tutorials online at www.nuigalway.ie/economics/tutorials. More information on online
registration will be given in lectures and on Blackboard announcements.
There will be bi-weekly tutorials, with students attending 5 tutorials in the semester. It is structured as follows
Group A students attend tutorials on weeks 3, 5, 7, 9 and 11
Group B students attend tutorials on weeks 4, 6, 8, 10 and 12
Gerard Turley | Macroeconomics | EC213
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Macroeconomics - EC213
Agenda
Topic
Readings
Chapters 1 in Walsh and Leddin (2003) and Dornbusch et al. (2011)
The New Economic School’s History of Economic Thought (HET) website
http://homepage.newschool.edu/~het/home.htm
Topic 1:

Paul Krugman (Nobel Prize Winner 2008)
Introduction to
Macroeconomics
http://web.mit.edu/krugman/www/islm.html
Revise
The Circular Flow of National Income, on YouTube at
http://www.youtube.com/watch?v=gaEY-p-21F8, or
http://www.youtube.com/watch?v=QSEuEPgQPC4&feature=related
Topic 2:

Chapter 23 in Walsh and Leddin (2003) and Chapter 2 in Dornbusch et al.
(2011)
Central Statistics Office website, www.cso.ie
National Income
Accounting
United Nations websites www.unece.org
World Bank Development Indicators (WDI) data.worldbank.org/indicator
Chapters 2-4 in Walsh and Leddin (2003) and Chapter 9 in Dornbusch et al.
(2011)
Topic 3:

The Keynesian Revolution webpage from the New Economic School’s HET
website
http://homepage.newschool.edu/~het/home.htm
Keynesian Income
Determination Y/AE
Model (fiscal policy)
Online material, at
http://www.chass.utoronto.ca/~reak/eco100/100_14.htm
and
Keynes and Keynesian economics
Topic 4:
Chapter 17 in Walsh and Leddin (2003) and Chapters 10 & 11 in Dornbusch
et al. (2011)

http://homepage.newschool.edu/~het/essays/keynes/hickshansen.htm
Hicks-Hansen IS/LM
Model (fiscal and
monetary policy)
http://www.youtube.com/watch?v=jh-DepAurtY&feature=related
http://pages.stern.nyu.edu/~nroubini/NOTES/CHAP9.HTM
Gerard Turley | Macroeconomics | EC213
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Macroeconomics - EC213
Topic 5:
Chapter 18 in Walsh and Leddin (2003) and Chapter 12 in Dornbusch et al.
(2011)

http://homepage.newschool.edu/~het/essays/keynes/international.htm
Mundell-Fleming
IS/LM/BP Model
(fiscal, monetary and
exchange rate policy)
and
http://www.fgn.unisg.ch/eurmacro/tutor/mundellfleming_index.html
Topic 6:

AD/AS Model
(demand-side and
supply-side policies)
Chapter 2 in Walsh and Leddin (2003) and Chapter 5 in Dornbusch et al.
(2011)
http://www.youtube.com/watch?v=RemyT7upOMI&feature=related
Tentative Lecture and Tutorial Schedule (to be confirmed):
4
Macroeconomics
Lectures
Tutorials
Introduction
Intro
National
National Accounts
Accounts
Classical v.
Group A
Keynesian
Group B
Y/AE model
5
Y/AE model
6
IS/LM model
7
IS/LM model
8
IS/LM model
9
IS/LM model
10
IS/LM/BP
model
11
AD/AS model
12
AD/AS model
Week
1
2
3
Gerard Turley | Macroeconomics | EC213
Group A
Group B
Group A
Group B
Group A
Group B
Group A
Group B
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