ECF5580 Macroeconomic theory and policy for developing countries

This unit provides a rigorous analytical framework and practical tools and techniques for macroeconomic policy analysis and formulation in developing countries and emerging markets. It uses a basic small open economy model and how it can be extended to answer important macroeconomic questions that arise in emerging markets and developing economies in the context of an integrated and volatile global economy. It discusses how and to what extent monetary, fiscal, and exchange rate policies can be used to achieve macroeconomic stability and sustainable and equitable economic growth taking into account domestic and international shocks and political constraints. The unit blends rigorous theory with practical applications with extensive use of case studies.