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Advanced Macroeconomics - ECO00082M

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

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 2024-25

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


Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Advanced Macroeconomics
3 hours 100

Special assessment rules



Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Advanced Macroeconomics
3 hours 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

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.