ADVANCED MACROECONOMICS 1 - 2020/1
Module code: ECOD001
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.
CANTORE Cristiano (Economics)
Number of Credits: 0
ECTS Credits: 0
Framework: FHEQ Level 8
JACs code: L130
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
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 type||Unit of assessment||Weighting|
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 three-hour exam worth 70% of the final mark.
- Problem sets worth 30% of the final mark typically submitted in week 5, 6, 9 and 11.
Due to the limited size of the cohort and the level of study, formal formative assessment is being replaced with informal discussions during and outside of lectures.
Students will receive verbal feedback during the lectures through direct interaction. Moreover, they will receive their problems sets back with written comments.
- 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.
|001||Understand and apply linear state-space time series analysis to macroeconomics data.||KC|
|002||Understand and apply basic dynamic programming||KCT|
|003||Understand how to build up economic models based on rational inter-temporal optimizing behaviour of all agents||KCPT|
|004||Solve and simulate DSGE models, and use them for policy analysis||KCPT|
|005||Read, interpret and critically discuss the advanced, state-of-the-art papers and books related to the material covered||KT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 123
Lecture Hours: 27
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 for ADVANCED MACROECONOMICS 1 : http://aspire.surrey.ac.uk/modules/ecod001
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 2020/1 academic year.