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.
- Core Module
- L1P6 - Year 1, L1P7 - Year 1
- 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.
Answer ALL questions from Section A (50 marks), ONE question from Section B (25 marks) and ONE question from Section C (25 marks). Answer Section A questions in one booklet, Section B questions in a separate booklet; and Section C questions in a separate booklet.
Approved pocket calculators are allowed.
Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book. If you answer more questions than are required and do not indicate which answers should be ignored, we will mark the requisite number of answers in the order in which they appear in the answer book(s): answers beyond that number will not be considered.
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.