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Unit information: MRes Macroeconomics 2 in 2021/22

Unit name MRes Macroeconomics 2
Unit code EFIMM0026
Credit points 15
Level of study M/7
Teaching block(s) Teaching Block 2 (weeks 13 - 24)
Unit director Dr. Abraham
Open unit status Not open




School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description including Unit Aims

This unit aims to broaden and deepen knowledge and understanding of selected topics in macroeconomics focusing in particular on issues of short term fluctuations and the foundations for the current workhorse dynamic models. In a first part, we will study the consumer problem: intertemporal choices, consumption, asset pricing and savings under uncertainty. In a second part, we introduce firms, the labour demand side and general equilibrium dynamics. We first analyse “Real Business Cycles” models in which monetary policy is neutral. We then discuss monetary policy in a New-Keynesian framework with (nominal) price and wage rigidities. The unit aims for students to be able to use these tools while understanding their limitations and to apply them when undertaking novel research.

Intended Learning Outcomes

This unit follows on from MRes Macroeconomics I, and provides:

1. A thorough and in-depth treatment of important concepts in macroeconomics, and a rigorous introduction to fundamental analytic paradigms,

2. A deep understanding of the discipline (including the empirical macroeconomic literature) to be able to access the journal articles first-hand, to evaluate them critically and to start independent research projects,

3. Applications of computational software such as MATLAB to evaluate workhorse macroeconomic models.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Information

online exam (85%) and coursework (15%)


If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.

If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIMM0026).

How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours of study to complete. Your total learning time is made up of contact time, directed learning tasks, independent learning and assessment activity.

See the Faculty workload statement relating to this unit for more information.

The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit. The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates within the Regulations and Code of Practice for Taught Programmes.