Unit name | Advanced Macroeconomics |
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Unit code | ECONM3023 |
Credit points | 15 |
Level of study | M/7 |
Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
Unit director | Professor. Jon Temple |
Open unit status | Not open |
Pre-requisites |
ECONM1011 |
Co-requisites |
None |
School/department | School of Economics, Finance and Management |
Faculty | Faculty of Social Sciences and Law |
This unit builds on the first-term unit to broaden and deepen knowledge and understanding of macroeconomics. Additional topics will illustrate and reinforce advanced macroeconomic theory. Topics will include advanced analysis of economic growth, monetary policy analysis, consumption, investment and unemployment and some coverage of stochastic dynamic general equilibrium models. The unit will include empirical applications of the material so that rigorous analysis is combined with applications to both econometric testing and policy analysis, ideally encouraging students to explore models using relevant computer software. The unit will contain some additional technical material to prepare students for study at PhD level, primarily in the fields of optimal control theory and/or the basic principles of dynamic programming.
Aims:
Students will be familiar with advanced macroeconomic modelling methodologies, including models at the research frontier;
Material will be delivered by lecture. This will be supplemented by small-group classes to facilitate student-led learning and to enable diagnostic assessment of their progress. Coursework will consist primarily of technical and problem-solving exercises which will be discussed in class. Classes will also be used to discuss different approaches and for student presentations.
Formative assessment: exercises and presentations.
Summative assessment: closed-book exam (three hours, 100% of unit mark).