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:



Only available to MRes Economics PhD pathway students



Duration of module: Duration (weeks) - term 2:


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 ActivitiesGuided independent studyPlacement / study abroad

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled Learning and Teaching Activity33 Lectures (3 per week)
Guided Independent Study117Reading, research, reflection; preparation for tutorials; completion of assignments

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Practice ProblemsVaries1-6Verbal/Written

Summative assessment (% of credit)

CourseworkWritten examsPractical exams

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Average of Assignments1001-4 Problems or Research-Paper-Based Exercises each1-6Verbal/Written

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Average of Assignments (100%)Average of Assignments (100%)1-6August/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.

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