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Unit information: MRes Macroeconomics 1 in 2020/21

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Unit name MRes Macroeconomics 1
Unit code EFIMM0020
Credit points 15
Level of study M/7
Teaching block(s) Teaching Block 1 (weeks 1 - 12)
Unit director Professor. Hu
Open unit status Not open
Pre-requisites

None

Co-requisites

MRes Mathematics for Economics

School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description

This unit aims to broaden and deepen knowledge and understanding of selected topics in macroeconomics. These topics will include dynamic optimization, and the application of dynamic models to consumption, investment and growth in continuous time. The unit aims to build in students the ability to know, understand and evaluate these tools and to apply them when undertaking novel research. To help in this, the material will include some empirical work which will highlight the scope and limitations of these tools.

Intended learning outcomes

This unit provides a thorough and in-depth treatment of the basic concepts in macroeconomics and introduces fundamental analytic paradigms rigorously, with a view to equip the students with sufficient foundational understanding of the discipline to be able to access the journal articles first-hand, to evaluate them critically and to start independent research projects at basic levels. Students will also learn to the application of computational software such as MATLAB to these tools, its scope and limitations.

Teaching details

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

Assessment Details

online exam (85%) and coursework (15%)

Reading and References

Bagliano, F.-C. and Bertola, G. Models for Dynamic Macroeconomics, OUP

Barro, R. J. and Sala-i-Martin, X. Economic Growth, MIT Press

Chiang, A. C. Elements of Dynamic Optimization, McGraw-Hill

Romer, D. Advanced Macroeconomics, (Fourth Ed.), McGraw-Hill

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