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:	2023/4
Module lecturers:	Dr Sebastian Merkel - Convenor
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	Reading, preparation for classes and assessments

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Discussions	Varies	1-6	Oral/Written

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
100	0	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Assignments	100	5 bi-weekly assignments, worth 20% each	1-6	Oral/Written
	0
	0
	0
	0
	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
Assignments	Assignments	1-6	August examination period

Syllabus plan

Topics of current macroeconomics research interest, which vary but may include:
i. Economic growth: Neoclassical Growth Model, Optimizing Behaviour in Dynamic Models , Endogenous Technological Change, Imitation and Convergence, Growth and Development Accounting, Appropriate Technology, Political Economy
ii. Heterogeneous Agents and Firms: Firm Dynamics, Income Distribution.
iii. Fiscal Policy: Taxation, Unemployment Insurance, Social Insurance Design
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

16/05/2022