Module overview
To provide students with grounding in the techniques of modern macroeconomic theory. The tools you will learn will enable you to understand cutting edge research and provide foundations on which you can build in your own research.
Aims and Objectives
Learning Outcomes
Learning Outcomes
Having successfully completed this module you will be able to:
- Characterize dynamic equilibria and solve for equilibrium decision rules and pricing functions that generate time series of key macroeconomic variables
- Solve dynamic optimisation problems
- Quantitatively evaluate the models
- Evaluate the efficiency of dynamic equilibria
Syllabus
The module covers the most essential tools in modern macroeconomic theory. We will draw on some best-known applications (eg, business cycles and asset pricing) to practice the tools. The topics covered are
- Markov processes
- Dynamic programming
- Competitive equilibrium with complete markets
- Recursive competitive equilibrium
- Incomplete markets and heterogeneity
Learning and Teaching
Teaching and learning methods
This is a full course unit with 42 hours of lectures, tutorials and computer-based sessions.
| Type | Hours |
|---|---|
| Independent Study | 158 |
| Teaching | 42 |
| Total study time | 200 |
Assessment
Assessment strategy
Assessment in this module is through coursework in form of two problem sets (each worth 10% of the final mark) and an end of module written examination (80%). This is supported by continuous formative assessment. This is the same for internal repeat. Assessment for referral and external repeat will be through end of module examination only.
Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Coursework | 10% |
| Final Assessment | 80% |
| Coursework | 10% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Final Assessment | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
| Method | Percentage contribution |
|---|---|
| Final Assessment | 100% |
Repeat Information
Repeat type: Internal & External