Modules | Management School | University of Liverpool

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	Advanced Topics in Macroeconomics
Code	ULMR505
Coordinator	Dr Y Arslan Economics Yavuz.Arslan@liverpool.ac.uk
Year	CATS Level	Semester	CATS Value
Session 2025-26	Level 8 FHEQ	First Semester	20

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						18	18
Timetable (if known)
Private Study							182
TOTAL HOURS							200

Assessment
EXAM	Duration	Timing (Semester)	% of final mark	Resit/resubmission opportunity	Penalty for late submission	Notes

CONTINUOUS	Duration	Timing (Semester)	% of final mark	Resit/resubmission opportunity	Penalty for late submission	Notes
Individual Referee Report Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: Yes	0		30
Individual Presentation Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: No	30		30
Individual Computational Exercise Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies Anonymous Assessment: Yes	0		40

Aims

This module aims to:

Introduce theoretical methods essential for PhD students to conduct research in macroeconomics;

Provide students with an advanced understanding of the most relevant models, both traditional and more recent, in macroeconomics and enable them to choose the most appropriate one for specific questions;

Prepare students to solve calibrated versions of such models;

Develop students’ presentation and writing skills;

Prepare students to critically evaluate and communicate current research results.

Learning Outcomes
(LO1) Students will be able to build theoretical models to approach research questions.
(LO2) Students will be able to numerically compute simple models.
(LO3) Students will be able to demonstrate advanced understanding through learning from working on theoretical models.
(LO4) Students will be able to demonstrate advanced understanding of some of the latest approaches to macroeconomic modelling.
(LO5) Students will be able to develop a suitable macroeconomic model for a specific question.
(LO6) Students will be able to critically evaluate research papers in macroeconomics.
(LO7) Students will be able to demonstrate an advanced understanding of recent empirical approaches in macroeconomics.
(S1) Organisation skills This applies to all modules of the programme and is relevant for planning scheduled work and meeting assessment deadlines. This will be evident in the students’ independent management of their assignments and coursework and by meeting coursework deadlines.
(S2) Problem solving and decision making skills Problem Solving and Decision-Making Skills: Students will be challenged to think critically about organisational issues and dilemmas. They will do this by gathering and synthesising information, analysing alternative perspectives and options and presenting a considered opinion or course of action in their course assessment.
(S3) Digital skills Students will develop IT skills through learning numerical methods programming.
(S4) Numeracy Students will develop numeracy through computation in the coursework assignment.
(S5) Communication skills Students will have opportunities to develop written and oral communication skills through their coursework.
(S6) Ethical awareness Students will enhance their ethical awareness by reflecting how research including their own is consistent with the principles of research ethics, integrity and open science and learning how to resolve issues and navigate challenges through in class work.
(S7) International awareness International issues will be covered in class work.

Teaching and Learning Strategies

Workshops x 18 hours (90 minutes per week).
During workshops students will present a paper of their choice, this will form part of the module's assessment. Materials for all the sessions are available online. Workshops will be recorded.

Self-directed learning x 182 hours
Students should make use of their self-directed learning time to read the module textbooks and journal articles, work through examples, solve problems, work on the assessments, and complete exercises in addition to those covered in learning materials, and reflect about the implications for their own research.

Syllabus

Indicative syllabus:

The module will cover a selection of the following topics:

Economic Growth

Households: Consumption and Saving Decisions:
Perfect foresight model
Permanent income hypothesis
Habits
Risk and precautionary motive

Competitive Equilibrium with Complete Markets

Asset Pricing in Endowment Economies

Recursive Methods and Dynamic Programming

Competitive Equilibrium with Incomplete Markets

Firms: Production and Investment

Business Cycles

Monetary Policy

Overlapping Generation Models:
Age consumption/income profiles in data and theory

Recent Advances:
Banks
Heterogeneity
Housing and Mortgages

The drivers of the 2008 crises

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