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:	2021/2
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 Activity	33	Lectures (3 per week)
Guided Independent Study	117	Reading, research, reflection; preparation for tutorials; completion of assignments

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Practice Problems	Varies	1-6	Verbal/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
Average of Assignments	100	1-4 Problems or Research-Paper-Based Exercises 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
Average of Assignments (100%)	Average of Assignments (100%)	1-6	August/September Reassessment Period

Syllabus plan

Topics of current macroeconomics research interest, which vary but may include:

Fiscal Policy and Ricardian Equivalence.
Search and Matching: The Matching Model, Efficiency Wages, Growth and Unemployment.
Monetary Economics: Models with Credit Frictions, Sticky Prices, Search.
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

16/02/2021