EC9A2-35 Advanced Macroeconomic Analysis
Principal Learning Outcomes
"Subject Knowledge and Understanding: Have a comprehensive overview and a sound understanding of macroeconomic Theory. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars and background reading The summative assessment methods that measure the achievement of this learning outcome are: Assessments"
"Key SKills Enable students to pursue their own research agenda in the field. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars and background reading The summative assessment methods that measure the achievement of this learning outcome are: Assessments"
The module will typically cover the following topics:Consumption and Investment. Topics: Intertemporal decisions, PIH, LCH, consumption under uncertainty, CEQ, CCAPM, equity premium puzzle, precautionary savings, liquidity constraints, Tobin’s q-theory, irreversible investment. Methods: Dynamic optimization under uncertainty (optimal control, dynamic programming, stochastic dynamic programming) in discrete time.Economic Growth. Topics: Growth accounting, neoclassical growth model, endogenous growth, poverty traps. Methods: Dynamic optimization in discrete or in continuous time, phase diagrams, OLG models. Business Cycles. Topics: RBC models, determination of employment and real wages, welfare costs of fluctuations, taxation and efficiency, new Keynesian models, monetary policy. Methods: Calibration and simulation, solving rational expectations models, Blanchard-Kahn conditions, Dynare, structural VARs. Markets with Frictions. Topics: Labour market frictions and unemployment, financial frictions.
- Optional Module
- L1PJ - Year 1
- Assessment Method
- Coursework (100%)
- Coursework Details
- In class test (50%), In class test (50%)
- Exam Timing
Time Allowed: 3 Hours
Read all instructions carefully- and read through the entire paper at least once before you start entering your answers.
Answer ALL questions.
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.