ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Macroeconomic Analysis
Code ECON905
Coordinator Dr S Mitra
Economics
Shalini.Mitra@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2023-24 Level 7 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 20

 5

         25
Timetable (if known)              
Private Study 125
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Examination Standard UoL penalty applies Anonymous assessment There is a resit opportunity  2    70       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Mid-term test Standard UoL penalty applies Anonymous assessment There is a resit opportunity  1    25       
Continuous participative assessment Standard UoL penalty applies Not anonymous assessment There is a resit opportunity  0    5       

Aims

This module aims to:

Develop students’ knowledge of economic growth (the long run) and business cycles (the short run) through the study of modern macroeconomic models;

Enable students to evaluate the successes and failures of the models studied in matching economic data;

Enhance students’ employability through the understanding and application of these models and associated skills for policy and economic analyses;

Equip students with the skills to write down, solve and analyse key macroeconomic problems.

Learning Outcomes

(LO1) Students will be able to demonstrate in-depth knowledge and understanding of macroeconomic theory.

(LO2) Students will be able to apply core advanced economic theory and quantitative methods to applied topics.

(LO3) Students will be able to show theory- and model-based understanding of advanced analytical methods.

(S1) Problem solving skills
Students will be assigned problems in their fortnightly seminars which they will are required to solve.

(S2) Numeracy
Lecture and seminar material strongly rely on numeracy skills and these skills are revisited and practiced through the weeks.

(S3) Commercial awareness
This is developed through lectures and learning materials.

(S4) Communication skills
Students are required to discuss their seminar problem sets in groups and present and explain their solutions/answers to the class.

(S5) IT skills
Students are introduced to a programming platform for solving Macroeconomic models (Dynare).

(S6) International awareness
This is developed through lectures and learning materials.

(S7) Lifelong learning skills
Critical thinking, time management and creativity are required and developed throughout the course of the module. Critical thinking is taught in the lectures, creativity in problem solving and combining solution methods is presented and tested while time management skills are developed between preparing for the mid-term as well as keeping up with seminars, readings and continuous assessments.

(S8) Ethical awareness
Transparency, trustworthiness, integrity, fairness, respect, compassion and accountability are some of the values encouraged through seminar discussions and lectures.

Teaching and Learning Strategies

2 hour lecture x 10 weeks
1 hour seminar x 5 weeks
125 hours self-directed learning

Syllabus
 

Topic 1: The Solow growth model;

Topic 2: The Ramsey-Cass-Koopmans model;

Topic 3: Models of Endogenous Growth;

Topic 4: Real Business Cycle Models;

Topic 5: Unemployment (and/or “Money” depending on time/interest).

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.