To provide a rounded knowledge of modern macroeconomic theory and relevant empirical evidence.
Principal Learning Outcomes
Students should gain an ability to exposit and critically appraise modern theoretical models of the determination of the major macroeconomic variables, and an understanding of how they help explain the empirical evidence.
The module will typically cover the following topics: Solow growth model, growth accounting, convergence, overlapping generations model, endogenous growth, income inequality and growth, unified growth theory, institutions and geography. Introduction to DSGE models; nominal rigidities; the "Phillips curve"; monetary policy.
- Optional Core Module
- L1P6 - Year 1, L1P7 - Year 1, C8P8 - Year 1
- Optional Module
- G30B - Year 4
- Pre or Co-requisites
- A sound knowledge of core undergraduate macroeconomics and microeconomics, as represented by texts such as Blanchard, Macroeconomics (Prentice Hall). Maths techniques used will include differential and difference equations; however the emphasis will be on economic understanding.
- Assessment Method
- Coursework (10%) + 3 hour exam (90%)
- Exam Timing
Time Allowed: 3 Hours plus 15 minutes reading time during which notes may be made (on the question paper only) BUT NO ANSWERS MAY BE BEGUN.
Read all instructions carefully- and read through the entire paper at least once before you start entering your answers.
There are THREE Sections in this paper. Answer ALL questions in Section A, ONE question in Section B and ONE question in Section C. All questions carry equal weight (25 marks each).
Approved pocket calculators are allowed.
You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.
Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.