Module code: ECOM065

Module Overview

This module introduces students to the tools necessary to address intermediate to advanced topics and perform independent research in such topics. It covers techniques for macroeconomics and it exposes students to research papers and topics. The module also aims to expose students to a wide range of models and approaches, ensuring they are sufficiently familiar with the literature to perform future independent research at the frontier.

Module provider


Module Leader

PRACA CAVACO NUNES Ricardo (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: 54

Lecture Hours: 33

Guided Learning: 30

Captured Content: 33

Module Availability

Semester 2

Prerequisites / Co-requisites


Module content

Indicative content includes:

  • Complete markets

  • Recursive competitive equilibrium

  • Risk sharing

  • Introduction to asset pricing

  • Introduction to optimal fiscal policy

  • Monetary Policy

  • Time-Inconsistency and Imperfect Commitment

  • Model solution techniques

  • Other selected topics

Assessment pattern

Assessment type Unit of assessment Weighting
Examination EXAMINATION (180 MIN) 100

Alternative Assessment

Not Applicable.

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of the tools used in theoretical and applied macroeconomics, and with the opportunity to apply these tools to real world issues.

Thus, the summative assessment for this module consists of:

• A three-hour examination 

Formative assessment and feedback

In addition to this, they are shown the correct approach to tutorial problems. Office hours are devoted to more targeted, individually based feedback on specific problems.

Module aims

  • Introduce students to advanced tools of modern macroeconomics.
  • Introduce students to some of the types of models worked within the literature
  • Introduce students to academic papers and research topics in the literature.

Learning outcomes

Attributes Developed
001 Acquire the technical tools for macroeconomic modelling KCPT
002 Understand the foundations of modern macroeconomic theory KCPT
003 Develop versatility in modelling techniques depending on the economic question KCPT
004 Understand the foundations of modern macroeconomic policy KCPT
005 Have a view of the frontier topics in Macroeconomic Modelling KC

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:
•    familiarise students with basic skills used in macroeconomic analysis.
•    enhance basic skills in relating real-world phenomena with macroeconomic models
•    enhance basic skills in discussing and reasoning about macroeconomic problems by using a conceptually rigorous analytical framework
•    give broad but still focused overview on selected frontier topics in Macroeconomic Modelling

The learning and teaching methods include:
•    Presentation and discussion within small-group interactive lectures.
•    Exercises that help deepen the knowledge of the material are assigned to students and discussed in class.
•    Readings that present the frontier of macroeconomic research.

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: ECOM065

Other information

Employability: Students develop a deep knowledge of the macroeconomy, financial markets and fiscal and monetary policies. They develop skills necessary in the finance industry, in central banks and in the Treasury. Moreover, students explore research topics that will make them employable in an academic setting.
Digital capabilities: Students get acquainted with programming languages and solve macroeconomic models.

Resourcefulness and resilience: the module introduces techniques and methods at a level appropriate for academic research. Students sharpen their understanding of economic models and learn how to ask interesting questions that warrant research at the frontier. They have to become resourceful and approach problems from a  theoretical, quantitative and empiricial perspective. They learn how to come up with interesting sources of data that can validate or refute an economic argument. They learn how to understand the weaknesses of an economic theory and how to develop new ones in order to address the ever-changing nature of the economic phenomena.


Programmes this module appears in

Programme Semester Classification Qualifying conditions
Economics MRes 2 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 2024/5 academic year.