Advanced Macroeconomics - ECO00082M
Module summary
This module aims to give you a solid grounding in modern macroeconomic theory at the graduate level.
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 2 2025-26 |
Module aims
To equip students with a thorough knowledge of modern macroeconomic theory and its applications.
Concepts such as rational expectations and dynamic general equilibrium will be widely used. It will generally include analysis of both the short run, or business-cycle, behaviour of a macroeconomy; and of the long-run, or growth, behaviour.
The determination of real variables such as output and employment, and of nominal variables such as inflation and the nominal interest rate, will be studied, as will their interaction. In general the module will draw on more than one school of thought, such as Classical ideas and Keynesian ideas and their modern variants.
Macroeconomic policy and its potential for improving the operation of the economy will also receive substantial attention.
A significant proportion of the module will be devoted to topics in international macroeconomics, such as the behaviour of the current account of the balance of payments and of the exchange rate.
Module learning outcomes
On completing the module a student will be able to:
· understand, explain and constructively criticise well-known macroeconomic models
· evaluate the extent to which well-known macroeconomic models can explain real-world data and macroeconomic experiences
· use well-known macroeconomic models to illuminate current debates about macroeconomic policy
· read and understand original research articles about macroeconomics in academic journals
Indicative assessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Special assessment rules
None
Indicative reassessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Module feedback
Feedback will be provided in line with University policy
Indicative reading
Blanchard, O. & Fischer, S., Lectures on Macroeconomics, MIT Press, 1989
Romer, D., Advanced Macroeconomics, McGraw-Hill, 5th ed., 2019
Obstfeld, M. & Rogoff, K., Foundations of International Macroeconomics, MIT Press, 1996