Topics in Macroeconomic Theory I
Module description
This module will cover topics in advanced macroeconomics with emphasis on fundamentals and
applications to recent theoretical advances.
Full module specification
| Module title: | Topics in Macroeconomic Theory I |
|---|---|
| Module code: | BEEM145 |
| Module level: | M |
| Academic year: | 2019/0 |
| Module lecturers: | |
| Module credit: | 15 |
| ECTS value: | 7.5 |
| Pre-requisites: | Only available to MRes Economics PhD pathways students |
| Co-requisites: | None |
| Duration of module: |
Duration (weeks) - term 1: 11 |
Module aims
The module explores burgeoning areas of modern macroeconomics, with the aim of enabling students to
write independent research in macroeconomics at the research frontier.
ILO: Module-specific skills
- 1. address complex questions at the frontier of macroeconomic research systematically and creatively.
- 2. make sound judgements and communicate their conclusions to specialists and non-specialists.
ILO: Discipline-specific skills
- 3. demonstrate self-direction and originality in tackling and solving macroeconomics problems.
- 4. continue to advance their knowledge and understanding, and to develop new skills to a high level.
ILO: Personal and key skills
- 5. identify, tackle and solve relevant research problems in macroeconomics
- 6. work independently and responsibly on complex research problems.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 33 | 117 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching | 33 (3 per week) | Lectures |
| Independent Study | 117 | Independent study |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Practice Problems | Varies | 1-6 | Oral/Written |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 45 | 55 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Exam | 55 | 3 hours | 1-6 | Oral/Written |
| 3 Problem Sets | 45 | 1-4 Problems each | 1-6 | Oral/Written |
| 0 |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Examination | Examination 55% (3 hours) | 1-6 | August examination period |
| Problem Sets | Problem set 45% (1-4 problems) | 1-6 | August examination period |
Syllabus plan
i. Economic growth: Neoclassical Growth Model, Optimizing Behaviour in dynamic models under
certainty, Endogenous Technological Change, Imitation and Convergence, Growth and Development
Accounting, Appropriate Technology, Political Economy
ii. Heterogeneous Agents and Firms: Firm Dynamics, Income Distribution, Fiscal policy Analysis.
iii. Monetary Economics: models with credit frictions, sticky prices, search.
Indicative learning resources - Basic reading
- Romer, Advanced Macroeconomics, McGraw-Hill Advanced Series in Economics, New
York, 2012.
- Ljungqvist and Sargent, Recursive Macroeconomic Theory, MIT Press, 2004.
- Stokey and Lucas, with Prescott, Recursive Methods in Economic Dynamics, Harvard
University Press, 1989.
- D. Acemoglu, Introduction to Modern Economic Growth, Princeton University Press, 2009.
- Barro and Sala-i-Martin, Economic Growth, McGraw-Hill, 1997.
- Obstfeld and Rogoff, Foundations of International Macroeconomics, MIT Press, 2000.
- Aghion and Howitt, Endogenous Growth Theory, MIT Press 1998.
- Pissarides, Equilibrium Unemployment Theory, MIT Press 2000.
- Walsh, Monetary Theory and Policy, MIT Press, 2010.
Module has an active ELE page?
Yes
Origin date
24/06/2019
Last revision date
24/06/2019