| Unit name | MRes Macroeconomics |
|---|---|
| Unit code | ECONM0018 |
| Credit points | 30 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 4 (weeks 1-24) |
| Unit director | Professor. Yazici |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
None |
| Units you must take alongside this one (co-requisite units) |
MRes Mathematical and Research Methods, MRes Econometrics, MRes Microeconomics |
| Units you may not take alongside this one |
None |
| School/department | School of Economics |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
MRes Macroeconomics is a first year unit which is designed to equip students with the foundational knowledge that they need in order to understand, discuss and conduct Macroeconomics research. The topics and the methodologies that will be covered will include both theoretical and quantitative aspects of modern Macroeconomics. In particular, the students will learn how to build, calibrate and estimate basic macroeconomic models.
How does this unit fit into your programme of study
Together with the MRes Microeconomics and the MRes Econometrics which will be running in parallel to MRes Macroeconomics, the unit aims to train well-rounded economists who are able to discuss and broadly follow research works in all of economics. Additionally, the foundational knowledge that students will accumulate in this unit is going to be a necessary building block for the Topics in Macroeconomics unit that will follow in the second year.
An overview of content
This unit aims to cover workhorse models of modern macroeconomics such as the neoclassical growth model, overlapping generations model, search and matching models of the labour market, incomplete market and life-cycle models, and fiscal policy. While doing so, the unit will introduce students to dynamic optimization techniques, dynamic programming, dynamic general equilibrium theory, and computation, calibration and estimation aforementioned models.
How will students, personally, be different as a result of the unit
The unit aims to build in students the ability to know, understand and evaluate these tools and to apply them when undertaking novel research. To help in this, the material will include some empirical work which will highlight the scope and limitations of these tools. The learning in this unit will enable them follow research seminars.
Learning Outcomes
By the end of this unit, successful students will:
Teaching will be delivered through lectures and classes.
Tasks which help you learn and prepare you for summative tasks (formative):
Attending lectures, discussing class material and homework assignments with peers is key to success. Discussions with peers will not only help them get different perspectives on the same subject but also teach them collaborations which is very important in economic research. Within class discussions of answers to homework assignments will also help prepare students for the examination.
Tasks which count towards your unit mark (summative):
In-class presentations of group homework assignments, half during TB1 and other half in TB2. (10%) – ILOs 1-4
Homework problems. Frequency will be up to a once a week, half during TB1 and other half in TB2. (20%) – ILOs 1-4
Mid-unit exam, at the end of TB1 (35%) 2 hours – ILOs 1-4
Final exam, at the end of TB2 (35%) 2 hours – ILOs 1-4
When assessment does not go to plan
When a student fails the unit and is eligible to resubmit, failed components will be reassessed on a like-for-like basis. If a student fails the homework problems component, reassessment will be through a single coursework reassessment covering the problem sets material. If the group presentation is failed, students will submit an individual video presentation of a reassessment assignment.
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ECONM0018).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The assessment methods listed in this unit specification are designed to enable students to demonstrate the named learning outcomes (LOs). Where a disability prevents a student from undertaking a specific method of assessment, schools will make reasonable adjustments to support a student to demonstrate the LO by an alternative method or with additional resources.
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
