Course unit details:
Macroeconomics
| Unit code | ECON60411 |
|---|---|
| Credit rating | 15 |
| Unit level | FHEQ level 7 – master's degree or fourth year of an integrated master's degree |
| Teaching period(s) | Semester 1 |
| Available as a free choice unit? | Yes |
Overview
The unit aims to introduce students to key concepts, methodologies, theories and techniques in modern macroeconomic analysis. Particular emphasis is placed on the modeling techniques of some of the most recent theoretical models used widely in the analysis of economic growth, consumption, and investment. As a bonus, it will also cover crime and its effects on economic growth.
Pre/co-requisites
Students must demonstrate an appropriate quantitative background
Aims
The unit aims to introduce students to key concepts, methodologies, theories and techniques in modern macroeconomic analysis. Particular emphasis is placed on the modeling techniques of some of the most recent theoretical models used widely in the analysis of economic growth, consumption, and investment. As a bonus, it will also cover crime and its effects on economic growth.
Learning outcomes
At the end of this course students should be able to
(i) know of the major issues as they arise in the field of macroeconomics,
(ii) understand alternative approaches to modeling economic growth, consumption, and investment,
(iii) critically evaluate the usefulness of macroeconomic techniques, and
(iv) develop models of their own from which to derive original results and policy implications
Syllabus
I. General Introductory Readings on Macroeconomics
II. Growth Models
1. Solow growth model
2. Augmented Solow model
3. Ramsey model: Infinite horizons
4. Diamond model: Overlapping generations
5. Endogenous growth models
III. Consumption
IV. Investment
V. Crime
Teaching and learning methods
Lecture and Tutorial
Assessment methods
| Method | Weight |
|---|---|
| Other | 20% |
| Written exam | 80% |
Midterm Test - 20%
Final Exam - 80%
Recommended reading
Basic Text:
Romer, David, 2006. Advanced Macroeconomics, 3rd edition, McGraw-Hill (or any other edition since).
Study hours
| Scheduled activity hours | |
|---|---|
| Lectures | 20 |
| Tutorials | 5 |
| Independent study hours | |
|---|---|
| Independent study | 125 |
Teaching staff
| Staff member | Role |
|---|---|
| Kyriakos Neanidis | Unit coordinator |
Additional notes