EC5231 Business Cycles

Academic year

2026 to 2027 Semester 2

Further information on which modules are specific to your programme.

Key module information

SCOTCAT credits

15

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 11

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

TBC

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

Module coordinator

Prof A J Sutherland

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

Module Staff

Prof Alan Sutherland

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

Module description

The periodic and persistent fluctuations observed in aggregate economic output, inflation and employment have long been a major focus of macroeconomic analysis. The causes of these fluctuations, and the appropriate policy responses, have been the subject of extensive theoretical and empirical analysis. This module will provide an advanced treatment of the macroeconomics of business cycles and will extend and add detail to the coverage of the basic "Real Business Cycle" and "New Keynesian" approaches offered in the module EC5205 Macroeconomics. Recent theoretical and empirical approaches to analysing the role of goods, labour and financial market factors in causing and propagating economic shocks will be examined, and the role of monetary and fiscal policy will be analysed.

Relationship to other modules

Pre-requisites

BEFORE TAKING THIS MODULE YOU MUST PASS EC5205

Assessment pattern

50% coursework 50% exam

Re-assessment

100% exam

Learning and teaching methods and delivery

Weekly contact

2-hour lecture (8 weeks), 1-hour tutorial (5 weeks)

Scheduled learning hours

21

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

Guided independent study hours

130

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

Intended learning outcomes

  • By the end of the module, students will be able to understand and analyse the main empirical facts in relation to business cycles.
  • By the end of the module, students will be able to understand and analyse recent theoretical approaches to explaining business cycles.
  • By the end of the module, students will be able to understand and analyse the empirical strengths and weaknesses of the main approaches to explaining business cycles.
  • By the end of the module, students will be able to understand and analyse the policy prescriptions that follow from the main theoretical and empirical approaches in the business cycle literature.