Advanced Macroeconomics
| Code | School | Level | Credits | Semesters |
| ECON3071 | School of Economics | 3 | 20 | Autumn China |
- Code
- ECON3071
- School
- School of Economics
- Level
- 3
- Credits
- 20
- Semesters
- Autumn China
Summary
This subject presents recent developments in macroeconomics. There will be a mix of theory and applications. The main theories to be covered may include overlapping generations models, dynamic optimization, real business cycle theory, intertemporal open economy models and the theory of economic growth. Various theories will be illustrated using examples drawn from various policy issues, as appropriate.
Pre-requisite: ECON2029&ECON2047
Please note this module is assessed at the end of in Autumn semester. First sit/ Resit exams are scheduled normally in the summer and can take the same form as the missing/ failed component of the assessment (exam, essay etc.) or other form, as decided by the School.
Target Students
Year 4 Economics students
Classes
- One 1-hour seminar each week for 4 weeks
- Two 1-hour-30-minute lectures each week for 10 weeks
Assessment
- 25% Coursework 1: group presentations
- 75% Exam 1 (1-hour-30-minute): 1.5-hour written exam
Assessed by end of autumn semester
Educational Aims
•Explain how macroeconomic researchers identify issues in macroeconomics that are important research topics;•Explain some of the techniques used by macroeconomic researchers to create knowledge;•Apply macroeconomic theory to analyze the potential of macroeconomic policy to improve economic welfare;•Collaborate with others to present the content of a recent article on macroeconomics from a professional journal;•Describe the role and limitations of government in improving individual welfare.Learning Outcomes
Knowledge and Understanding:
A1-Demonstrate a broad knowledge of core areas of economics
A3-Show understanding of analytical methods, both theory- and model-based.
A4-Demonstrate understanding of verbal, graphical, mathematical and econometric representation of economic ideas and analysis, including the relationship between them.
A5-Show understanding of relevant mathematical and statistical techniques.
A7BSc - Demonstrate more extensive knowledge and skills of quantitative or theoretical modelling areas of economics and/or econometrics.
Intellectual Skills:
B1-apply complex ideas to solve problems
B2-work with abstract concepts and in a context of generality
B3-reason logically and work analytically
Professional / Practical Skills:
C2-select and apply appropriate techniques to solve problems
C3-justify conclusions using economic arguments with appropriate rigor
Transferable Skills:
D1-apply mathematical, statistical and graphical techniques in an appropriate manner
D2-communicate effectively and clearly in written and oral formats
Conveners
- Jingong Huang