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 THEORY
Code ECON905
Coordinator Dr S Mitra
Economics
Shalini.Mitra@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2019-20 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 24

 6

         30
Timetable (if known)              
Private Study 120
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Standard UoL penalty applies Anonymous assessment  120 minutes    80       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Mid-term test Standard UoL penalty applies Anonymous assessment Reassessment is via 100% examination  60 minutes    20       

Aims

This module aims to give students an understanding of the neoclassical models of growth based on Solow and Ramsey following which the Real Business Cycle will be introduced. Students will become familiar with key concepts in modern quantitative macroeconomics and the programming language Dynare. The second half of the module will focus on balance of payments constraints and exchange rate determination.

Learning Outcomes

(LO1) Demonstrate in-depth knowledge and understanding of macroeconomic theory.

(LO2) Apply core advanced economic theory and quantitative methods to applied topics.

(LO3) Show theory and model based understanding of advanced analytical methods.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Communication skills

(S5) IT skills

(S6) International awareness

(S7) Lifelong learning skills

(S8) Ethical awareness

Teaching and Learning Strategies

Teaching Method 1 - Lecture

Teaching Method 2 - Seminar

Syllabus
 

Topic 1: Neoclassical models of growth (Solow and Ramsey);

Topic 2: Real business cycle;

Topic 3: The balance of payments;

Topic 4: The monetary approach to the balance of payments;

Topic 5: Purchasing power parity and exchange rate determination;

Topic 6: The Mundell Fleming model and the Keynesian approach to the balance of payments;

Topic 7: Monetary policy and inflation.

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