| Unit name | MRes Macroeconomics 2 |
|---|---|
| Unit code | EFIMM0026 |
| Credit points | 15 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
| Unit director | Professor. Yanos Zylberberg |
| Open unit status | Not open |
| Pre-requisites |
None |
| Co-requisites |
None |
| School/department | School of Economics |
| Faculty | Faculty of Social Sciences and Law |
This unit aims to broaden and deepen knowledge and understanding of selected topics in macroeconomics focusing in particular on issues of short term fluctuations and the foundations for the current workhorse dynamic models. In a first part, we will study the consumer problem: intertemporal choices, consumption, asset pricing and savings under uncertainty. In a second part, we introduce firms, the labour demand side and general equilibrium dynamics. We first analyse “Real Business Cycles” models in which monetary policy is neutral. We then discuss monetary policy in a New-Keynesian framework with (nominal) price and wage rigidities. The unit aims for students to be able to use these tools while understanding their limitations and to apply them when undertaking novel research.
Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities
online exam (85%) and coursework (15%)
Gali, J. Monetary Policy, Inflation and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press
Romer, D. Advanced Macroeconomics, (Fourth Ed.), McGraw-Hill, 2010.
