EC3306 Economic Fluctuations

Academic year

2024 to 2025 Semester 2

Further information on which modules are specific to your programme.

Key module information

SCOTCAT credits

20

The Scottish Credit Accumulation and Transfer (SCOTCAT) system allows credits gained in Scotland to be transferred between institutions. The number of credits associated with a module gives an indication of the amount of learning effort required by the learner. European Credit Transfer System (ECTS) credits are half the value of SCOTCAT credits.

SCQF level

SCQF level 9

The Scottish Credit and Qualifications Framework (SCQF) provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Planned timetable

When confirmed, check online https://timetables.st-andrews.ac.uk/.

This information is given as indicative. Timetable may change at short notice depending on room availability.

Module coordinator

Dr N Chernyshev

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module Staff

Dr Nikolay Chernyshev

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module description

Economic growth is not steady but features a series of expansions and contractions. These economic fluctuations are of primary concern to economic policy makers and have been the source of some of the most intense debates in all of economics. A recurring theme of this course will be the question Where do economic booms and busts come from? and the module's main objective is to provide an advanced understanding of the macroeconomics behind this volatility. Students will be introduced to the main facts characterizing economic fluctuations as well as a range of formal analytical models that will help develop their understanding of key macroeconomic and monetary relationships. Finally, they will examine how well these models account for the observed facts.

Relationship to other modules

Pre-requisites

PERMISSION OF THE ECONOMICS HONOURS ADVISER

Assessment pattern

2-hour Written Examination = 50%, Coursework (incl. Class Test 25%) = 50%

Re-assessment

2-hour Written Examination = 100%

Learning and teaching methods and delivery

Weekly contact

20 hours of lectures over 11 weeks, 1-hour tutorial (x 5 weeks).

Scheduled learning hours

25

The number of compulsory student:staff contact hours over the period of the module.

Guided independent study hours

175

The number of hours that students are expected to invest in independent study over the period of the module.

Intended learning outcomes

  • Understand and critique analyses based on the RBC and other models
  • Apply economic models to analyse business cycle fluctuations
  • Find and use key economic data associated with economic fluctuations
  • Have a basic grasp of the methodological challenges posed and possibilities offered by different models of economic fluctuations