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Macroeconomic Techniques (ECON40005)
HonoursPoints: 12.5Not available in 2024
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About this subject
Overview
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Introduction to recent developments in macroeconomics. Students will learn how to formulate and solve stochastic dynamic economic models and to apply these techniques to a number of substantive issues in consumption, asset pricing, business cycle theory, monetary economics, and labour economics.
Intended learning outcomes
On successful completion of this subject students should be able to:
- Identify well posed economic questions;
- Formulate dynamic macroeconomic models that could provide answers to well posed questions;
- Apply existing empirical work to parameterize and calibrate such models and understand some methods of estimation;
- Evaluate critically the performance of such models;
- Develop an understanding of representative agent models and/or heterogeneous agent models;
- Evaluate recent contributions to macroeconomics;
- Analyse the interplay of questions, theory, and data.
Generic skills
On successful completion of this subject students should have improved the following generic skills:
- Evaluation of ideas, views and evidence;
- Synthesis of ideas, views and evidence;
- Strategic thinking;
- Critical thinking;
- Application of theory to economic policy and business decision making;
- Accessing economic and other information;
- Summary and interpretation of information;
- Application of Windows software;
- Using and designing computer programs;
- Statistical reasoning;
- Problem solving skills;
- Collaborative learning and teamwork;
- Negotiation and bargaining;
- Written and oral communication.
Last updated: 8 November 2024