Topics in Macroeconomic Theory II

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 II
Module code:	BEEM148
Module level:	M
Academic year:	2020/1
Module lecturers:
Module credit:	15
ECTS value:	7.5
Pre-requisites:	Only available to MRes Economics PhD pathway students
Co-requisites:	None
Duration of module:	Duration (weeks) - term 2: 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. 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	Lectures (3 per week)
Guided Independent Study	117	Reading, research, reflection; preparation for lectures and assessments.

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
100	0	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Final Paper	55	2,000 words	1-6	Verbal/Written
3 Problem Sets	45	1-4 Problems each	1-6	Verbal/Written

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
Final Paper (55%)	1 written assignment (2,000 words, 55%)	1-6	August/September Reassessment Period
Problem Sets (45%)	Problem Sets (1-4 problems, 45%)	1-6	August/September Reassessment Period

Syllabus plan

i. Fiscal Policy and Ricardian Equivalence
ii. Search and Matching: The Matching Model, Efficiency Wages, Growth and Unemployment.
iii. Monetary Economics: models with credit frictions, sticky prices, search.
iv. Insurance vs Incentives.

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

15/03/2021