Module overview
To provide students with a solid grounding in the techniques of modern macroeconomic theory, with particular emphasis on real business cycle models. The tools you will learn will enable you to understand cutting edge research and provide foundations on which you can build in your own research.
Aims and Objectives
Learning Outcomes
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- Use macroeconomic modeling techniques to generate predictions and calibrate macroeconomic models
- Apply macroeconomic methods to address economic questions, including the evaluation of policy
- Solve dynamic optimisation problems
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- Current research methods in macroeconomics
- Main theoretical and mathematical methods of macroeconomic analysis at the graduate level
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- Use quantitative modeling to derive positive and normative statements
Syllabus
The module covers the essential tools in modern macroeconomic theory, focusing on quantitative modelling. We will cover real business cycle and neoclassical models, focusing on the concepts of competitive equilibrium with complete markets and recursive competitive equilibrium, to provide a solid foundation in graduate macroeconomics. We will then draw on some applications of the methods.
Learning and Teaching
Teaching and learning methods
Lectures and masterclasses.
| Type | Hours |
|---|---|
| Independent Study | 125 |
| Teaching | 25 |
| Total study time | 150 |
Assessment
Assessment strategy
Assessment in this module is through coursework in form of two problem sets (each worth 10% of the final mark) and an end of module written examination (80%). This is supported by continuous formative assessment. This is the same for internal repeat. Assessment for referral and external repeat will be through end of module examination only.
Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Final Exam | 90% |
| Coursework | 10% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Final Exam | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
| Method | Percentage contribution |
|---|---|
| Final Exam | 100% |
Repeat Information
Repeat type: Internal & External