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Department of Economics

EC9A2: Advanced Macroeconomic Analysis

  • Roberto Pancrazi

    Module Leader

  • Marija Vukotic

    Module Lecturer

  • Omer Moav

    Module Lecturer

  • Thijs Van Rens

    Module Lecturer

Total students will not give an accurate representation of student numbers until module registration is complete

17total
students
60total
lecture hours
30total
seminars
90total
contact hours
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:...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
L1PL - Year 1

Assessment

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

Reading Lists