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EC9A2: Advanced Macroeconomic Analysis

  • Roberto Pancrazi

    Module Leader
  • Giovanni Ricco

    Module Lecturer
  • Omer Moav

    Module Lecturer
35 CATS - Department of Economics
Spring Module
Autumn Module

Principal Aims

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"

"Subject Knowledge and Understanding: Develop a critical knowledge of recent research in some key areas of macroeconomics. 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"

Syllabus

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.

Context

Optional Module
L1PJ - Year 1

Assessment

Assessment Method
Coursework (100%)
Coursework Details
In class test (50%), In class test (50%)
Exam Timing
N/A

Exam Rubric

Time Allowed: 3 Hours

Answer ALL questions.

Use a separate answer booklet for each section.

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.

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.

Reading Lists