ADVANCED MACROECONOMICS 1 - 2019/0

Module code: ECOM059

Module Overview

This course gives the students a systematic way of thinking about macroeconomic issues. The course will present the methodology and tools to study dynamic macroeconomic problems and will cover a broad range of macroeconomic theories of business cycle.

Module provider

Economics

Module Leader

CANTORE C Dr (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

JACs code:

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

None.

Module content

Indicative content includes:


Deterministic Difference Equations
Stochastic Difference Equations
Introduction to Matlab and programming in Dynare
Neoclassical Growth Models and different market structures
Real Business Cycle theory
Fiscal Policy
The New Keynerian Model: Sticky Prices and Sticky Wages
Medium Scale DSGE Models
Dynamic Programming
LQ model and Optimal Policy

Assessment pattern

Assessment type Unit of assessment Weighting
Coursework COURSEWORK (4 PROBLEM SETS) 30
Examination FINAL EXAMINATION (2 HOURS) 70

Alternative Assessment

None

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their technical skills relating to, and understanding of, economic problems involving game theory.

Thus, the summative assessment for this module consists of:


A two-hour exam worth 70% of the final mark.
2 ‘take home’ problem sets worth 15% of the final mark each typically submitted in week 7 and 12.


Formative assessment

Informal discussions during and outside of lectures.

Feedback

Students will receive verbal feedback during the lectures through direct interaction. Moreover, they will receive their problems sets back with written comments.

Module aims

  • Provide students with a thorough understanding of key macroeconomics models, concepts and results.
  • Enable students to prepare for research in this field.
  • Enable students to develop the skills to work independently.

Learning outcomes

Attributes Developed
001 To develop the understanding of macroeconomic theory and the theory of macroeconomic policy at a level propedeutic for the pursuing of a research career (ie. PhD in Economics) CK
002 Understand and interpret economic models based on rational inter-temporal optimizing behaviour of all agents CKPT
003 Introduction to solving and simulating DSGE models, and use them for policy analysis CKPT
004 Read and interpret state-of-the-art papers and books related to the material covered KT
005 Apply the concepts, tools and results to economic problems CKP

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Overall student workload

Independent Study Hours: 117

Lecture Hours: 22

Tutorial Hours: 11

Methods of Teaching / Learning

The learning and teaching strategy is designed to: develop students’ independent research skills, by training them to do critical analysis of papers in scientific journals and do many problem sets, making sure concepts and methods are mastered.

The learning and teaching methods include:
• Interactive lectures and discussion of cases within these.

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

Reading list for ADVANCED MACROECONOMICS 1 : http://aspire.surrey.ac.uk/modules/ecom059

Other information

None.

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2019/0 academic year.