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
Having successfully completed this module you will be able to:
- Quantitatively evaluate the models
- Evaluate the efficiency of dynamic equilibria
- Solve dynamic optimisation problems
- Characterize dynamic equilibria and solve for equilibrium decision rules and pricing functions that generate time series of key macroeconomic variables
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.
|Total study time||200|
Assessment in this module is through coursework in form of problem sets (20% of the final mark), successful participation in class through e.g. online tests, quizzes, problem solving etc. (10%) and a take-home assignment at the end of the semester. Assessment for referral and external repeat will be through take-home assignment only.
This is how we’ll formally assess what you have learned in this module.
This is how we’ll assess you if you don’t meet the criteria to pass this module.
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.
Repeat type: Internal & External