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Macroeconomics: Topics in Theory for Policy - ECO00042H

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  • Department: Economics and Related Studies
  • Module co-ordinator: Prof. Subir Chattopadhyay
  • Credit value: 20 credits
  • Credit level: H
  • Academic year of delivery: 2024-25
    • See module specification for other years: 2023-24

Module summary

This module enables third year undergraduate students to access a set of advanced topics in modern macroeconomic theory.

Related modules

Pre-requisite modules

Co-requisite modules

  • None

Prohibited combinations

  • None

Module will run

Occurrence Teaching period
A Semester 1 2024-25

Module aims

The purpose of this advanced undergraduate module is to provide adequate foundations in modern macroeconomic theory so that students are able to grasp the nuances of various policy debates.

It approaches macroeconomics from the perspective of general equilibrium and information economics as this allows the analysis to be founded in terms of economic fundamentals at the level of the decision maker.

Term 1 starts with the Solow model of growth, and then considers the Ramsey model where the decision regarding how much to save is endogenised. Various applications and adaptations of the model are then considered including the analysis of fiscal policy in a dynamic setting with perfect foresight.

Term 2 concentrates attention on three issues: intergenerational trade, social security and capital formation studied within the framework of an overlapping generation model with production, the efficiency wage approach and the search approach to labour markets, and credit markets and the role of liquidity and collateral in the economy.

Module learning outcomes

On completing the module a student will be able to:

  • Understand some modern macroeconomic models with micro-foundations

  • Comment on some policy debates in macroeconomics

Assessment

Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Macroeconomics: Topics in Theory for Policy		 3 hours 90
Essay/coursework
Coursework 1 : Macroeconomics: Topics in Theory for Policy		 N/A 5
Essay/coursework
Coursework 2 : Macroeconomics: Topics in Theory for Policy		 N/A 5

Special assessment rules

None

Reassessment

Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Macroeconomics: Topics in Theory for Policy		 3 hours 90

Module feedback

Feedback will be provided in line with University policy

Indicative reading

Blanchard, O. and Fischer, S., Lectures is Macroeconomics, MIT Press, 1989

Romer, D., Advanced Macroeconomics, McGraw-Hill, 5th ed., 2019

Freixas, X. and Rochet, J.-C., Microeconomics of Banking, MIT Press, 1997


The information on this page is indicative of the module that is currently on offer. The University is constantly exploring ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary by the University. Where appropriate, the University will notify and consult with affected students in advance about any changes that are required in line with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.