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ES50101: Macroeconomic theory

[Page last updated: 02 August 2022]

Academic Year: 2022/23
Owning Department/School: Department of Economics
Credits: 6 [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Masters UG & PG (FHEQ level 7)
Semester 1
Assessment Summary: CW 30%, EX 70%
Assessment Detail:
  • Coursework (CW 30%)
  • Exam (EX 70%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Learning Outcomes: At the end of the unit students will be expected to be able to:
* Understand advanced techniques of dynamic general equilibrium modelling;
* Evaluate analytically a wide range of dynamic stochastic general equilibrium models and their implications for macroeconomic policy;
* Apply independently advanced techniques of dynamic general equilibrium modelling to the analysis of current macroeconomic research questions.

Aims: The unit aims to introduce students to the modern macroeconomics research paradigm of dynamic stochastic general equilibrium, focussing on the theoretical structure underlying this approach and its application to the latest macroeconomic issues.

* Develop rigorous arguments through precise use of concepts and mathematical models (Taught/Facilitated/Assessed);
* Employ advanced analytical tools for solving dynamic general equilibrium models (T/F/A);
* Build and solve a wide range of dynamic stochastic general equilibrium models.

* Microfoundations of Macroeconomic Theory;
* Real Business Cycle Models;
* Nominal Rigidities and Monopolistic Competition;
* New Keynesian Models;
* Financial Intermediation;
* Open Economies;
* Fiscal Policy and Budget Deficit;
* Monetary Policy and Inflation;
* Overlapping-Generation Models.

Programme availability:

ES50101 is a Designated Essential Unit on the following programmes:

Department of Economics


  • This unit catalogue is applicable for the 2022/23 academic year only. Students continuing their studies into 2023/24 and beyond should not assume that this unit will be available in future years in the format displayed here for 2022/23.
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