PP440
Micro and Macro Economics (for Public Policy)
This information is for the 2018/19 session.
Teacher responsible
Dr Ethan Ilzetzki and Professor Daniel Sturm
Availability
This course is compulsory on the MPA in European Policy-Making, MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MPA in Social Impact and Master of Public Administration. This course is available on the MPA Dual Degree (ÐÓ°ÉÂÛ̳ and Columbia), MPA Dual Degree (ÐÓ°ÉÂÛ̳ and Hertie), MPA Dual Degree (ÐÓ°ÉÂÛ̳ and NUS), MPA Dual Degree (ÐÓ°ÉÂÛ̳ and Sciences Po), MPA Dual Degree (ÐÓ°ÉÂÛ̳ and Tokyo) and MSc in Political Science and Political Economy. This course is available with permission as an outside option to students on other programmes where regulations permit.
Course content
This course is an introductory graduate course providing an economics background suitable for high-level public policy-making. The emphasis is on acquiring sound models and methods suitable for appraising policy-making issues in a wide variety of contexts. The first term (MT) covers microeconomics and the second term (LT) covers macroeconomics.
MT (Microeconomics): demand and supply in competitive markets: consumer optimisation and demand for goods: firms, optimisation and the supply of goods; market power; externalities in consumption and production; provision of public goods; asymmetric information and market failure
LT (Macroeconomics): understanding macroeconomic data; long-run economic growth; business cycles; aggregate demand; money, inflation and monetary policy; stabilization policy; fiscal policy and government debt; the labour market and unemployment; exchange rates and international economic policy; the financial system and the macroeconomy.
Teaching
20 hours of lectures and 10 hours of seminars in the MT. 20 hours of lectures and 10 hours of seminars in the LT. 2 hours of lectures in the ST.
Formative coursework
Students will complete weekly problem sets. Some of these will be marked to provide indicative assessment.
Indicative reading
A full reading list will be distributed at the beginning of the course.
Assessment
Exam (70%, duration: 3 hours, reading time: 15 minutes) in the summer exam period.
Policy memo (10%) in the MT.
Policy memo (10%) in the LT.
Continuous assessment (10%) in the MT and LT.
Key facts
Department: School of Public Policy
Total students 2017/18: Unavailable
Average class size 2017/18: Unavailable
Controlled access 2017/18: No
Value: One Unit
