EC9D5: Macroeconomics B
Arthur Galichere
Module Leader
Omer Moav
Module Lecturer
Introduction
EC9D5-30 Macroeconomics B
Principal Aims
Students will have had the opportunity to develop a rigorous understanding of the principles of macroeconomic analysis and some important applications.
Principal Learning Outcomes
Subject Knowledge and Understanding:...have a rigorous understanding of the theoretical foundations of macroeconomic analysis. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.
Subject-specific Skills/Professional Skills:...demonstrate a rigorous understanding of how modern macroeconomic models relate to policy and empirical evidence. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.
Cognitive Skills:...demonstrate a rigorous and critical understanding of growth and modern macroeconomics. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, independent study. The summative assessment methods that measure the achievement of this learning outcome are: Examination and test.
Syllabus
This module covers the two main branches of Macroeconomics: Business Cycles and Economic Growth. It introduces key facts, models, and methods used to analyse short-run fluctuations and long-run development.
The syllabus includes, but is not limited to, the following topics:
Part 1: Business Cycles
Introduction to business cycle facts and main economic questions
Dynamic optimisation in discrete time
Households' behaviour: consumption and saving
Firms' decisions: investment, profits, and dividend policy
The Real Business Cycle (RBC) model: structure and performance
Introduction to solving and simulating macroeconomic models
Part 2: Economic Growth
Key facts and questions in the study of long-run growth
The Solow model, convergence, and growth accounting
The Overlapping Generations (OLG) model
Endogenous growth theory: AK models, technical change, and R&D
The relationship between inequality, poverty, and growth
Deep determinants of development
Context
- Optional Core Module
- L1P6 - Year 1, L1P7 - Year 1
- Optional Module
- G300 - Year 3
- Pre or Co-requisites
- The module demands a deep understanding of core undergraduate macroeconomic principles.
Assessment
- Assessment Method
- Coursework (20%) + In-person Examination (80%)
- Coursework Details
- In-person Examination (80%) , Test 1 Macro B (10%) , Test 2 Macro B (10%)
- Exam Timing
- January
Exam Rubric
Time Allowed: 3 Hours, plus 15 minutes reading time during which you may make notes on the question paper. You must not start writing in your answer booklet until you are instructed.
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 (25 marks each), ONE question in Section B (25 marks) and ONE question in Section C (25 marks).
Answer each whole question in a separate booklet.
Approved scientific (non-graphical) 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.