ECON30120 Advanced Macroeconomics

Academic Year 2023/2024

This module will focus on a range of different topics in macroeconomics and it is taught in three parts. The first part will cover the dynamics of the business cycle. We will develop a model that will allow us to discuss how the economy and key macroeconomic variables (such as prices or interest rates) fluctuate. We will expand on traditional IS-LM analysis (that you studied in intermediate macro) to cover monetary policy rules, inflation expectations and the possibility of inflationary spirals or liquidity traps. This part of the class will be taught using a combination of mathematical models, graphical analysis and simulation exercises.

The second part will describe how agents in the macroeconomy make consumption, investment or savings decisions through the lens of the theory of rational expectations. This tool will allow us to discuss how different asset prices move, whether financial markets price assets accurately or whether they are excessively volatile, how people react to tax cuts and what drives movements in exchange rates. We will also review empirical evidence that tests this theory.

The final part will cover the drivers of long-run economic growth. We will examine how and why economies grow over the long run, what explains differences in economic development across countries, how economies behaved before the emergence of sustained growth in the Industrial Revolution and how innovation drives sustained economic growth.

Show/hide contentOpenClose All

Curricular information is subject to change

Learning Outcomes:

Following completion of the course and its predecessors, students will be familiar with most of the key concepts relating to macroeconomic dynamics over the short and long run. They will be in a position to understand and comment critically on a wide range of current macroeconomic issues. They will have expertise in modern Keynesian macroeconomics, in the issues raised by models based on rational expectations and the determinants of long-run economic growth. Students will be capable of interpreting macroeconomic models using both graphical and algebraic techniques as well as simulation exercises.

Student Effort Hours: 
Student Effort Type Hours
Lectures

22
Autonomous Student Learning

80
Total

102
Approaches to Teaching and Learning:
The module is based on lectures given by the module coordinator. Lecture notes are provided based on an online textbook. This is supplemented by a wide variety of articles and readings which give students the chance to dig deeply into each of the topics covered. 
Requirements, Exclusions and Recommendations
Learning Recommendations:

Students are strongly recommended to have taken the Intermediate Macroeconomics Course (Macroeconomics I) before registering for this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Examination: Final Exam 2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No

50
Examination: 2 in-semester tests (week 7 and week 10). Throughout the Trimester Yes Alternative linear conversion grade scale 40% No

50

Carry forward of passed components
Yes
 
Resit In Terminal Exam
Summer Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, on an activity or draft prior to summative assessment
• Feedback individually to students, post-assessment

How will my Feedback be Delivered?

Office hours are held throughout the term so that students can discuss the module's material and their preparations for the final exam. After each exam, students are entitled to request a meeting with the module co-ordinator to discuss their exam script.

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Spring
      
Lecture Offering 1 Week(s) - 20, 21, 23, 24, 25, 26, 29, 31, 32, 33 Mon 15:00 - 15:50
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Wed 12:00 - 12:50
Spring