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This course will address a variety of questions that are relevant in macroeconomics and for our current understanding of the global economy.

We will cover five topics chosen in the following (non-exhaustive) list: 'The very long run and demographics', 'Business cycles', 'Hyperinflation', 'The liquidity trap', ‘ Income and wealth inequalities', 'Sustainable development and Easter Island economics', and 'Market Economy vs Planned Economy and USSR economic development’.

We will explore each topic using a three pronged approach.

• Looking at data either current or historical ones and/or at some historical episodes
• Discussing how economists have addressed the topic in history
• Presenting a mathematical modelling of the topic using modern language and modern tools, and, where appropriate, using the computer to manipulate data, solve the model and/or give quantitative predictions.

Through this course you will develop your appreciation of the value of macroeconomic theory and mathematical modelling for the understanding of historical and current economic issues.

Suitable for: Final year Economics (L100 / L101 / L102), Econ/Geog (LL17), Phil/Econ (VL51) and PPE (4V86) students.

Pre-requisites: ECON0006/0010: Mathematics for Economics and ECON0016: Macroeconomic Theory and Policy (or equivalents).

Assumed knowledge: Students should have taken intermediate macro and micro modules and should be able to use basic mathematical tools (derivation, optimisation, difference equation). They should be able to use a spreadsheet. They should also be able to read economic papers/news and to summarise/discuss them.