Module code: ECOM060

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


Module Leader

CANTORE Cristiano (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

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

Overall student workload

Independent Learning Hours: 117

Lecture Hours: 22

Tutorial Hours: 11

Module Availability

Semester 1

Prerequisites / Co-requisites


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 (2 'take home' problem sets) 30
Examination Final Examination (2 hours) 70

Alternative Assessment


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.



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) (C,K) CK
002 Understand and interpret economic models based on rational inter-temporal optimizing behaviour of all agents (C,K,T,P) CKPT
003 Introduction to solving and simulating DSGE models, and use them for policy analysis (C,K,T,P) CKPT
004 Read and interpret state-of-the-art papers and books related to the material covered (K,T) KT
005 Apply the concepts, tools and results to economic problems (C,K,P) CKP

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

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 two 'take home' 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
Upon accessing the reading list, please search for the module using the module code: ECOM060

Other information


Programmes this module appears in

Programme Semester Classification Qualifying conditions
Economics MRes 1 Compulsory A weighted aggregate mark of 50% is required to pass the module

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.