This module considers recent developments in micro and macroeconomic theory and policy. Inter alia this involves the incorporation of market imperfections and institutions into formal models and the use of more advanced techniques in economics. The interaction between models and data in macroeconomics is emphasised where appropriate.
The module aims to:
On successful completion of the module, students will be able to:
The content of the module is delivered through weekly workshops that will comprise a combination of lecture and seminar components. Students will be introduced to the major concepts through the lecture component of the workshops and the completion of assigned readings. Regular problem sets will provide students with the practice and feedback needed to develop and strengthen their writing and problem solving skills.
Definitive UNISTATS Category | Indicative Description | Hours |
---|---|---|
Scheduled learning and teaching | Workshops | 66 |
Scheduled learning and teaching | Preparation of short essay and problem sets | 138 |
Scheduled learning and teaching | General independent study and exam revision | 96 |
Total (number of credits x 10) | 300 |
Formative assessment includes the weekly problem sets.
An unseen end of year two hour exam provides summative assessment of the learning outcomes.
A selection of submitted problem sets provides formative and summative assessment. The problem sets will form the basis of weekly seminars and a class test will be held at the beginning of Teaching Block 2 and this will be based on the problem sets distributed during Teaching Block 1.
Learning Outcome | Assessment Strategy |
---|---|
1) Demonstrate an understanding of the differences in the nature of economic outcomes when there are market imperfections; | Seminar portfolio (F/S), exam (S) |
2) Understand the motivation behind some of the recent developments in macro and micro economics and their implications for policy; | Seminar portfolio (F/S), exam (S) |
3) Demonstrate critical thinking about the consistency and usefulness of the approaches presented. | Exam (S) |
Description of Assessment | Definitive UNISTATS Categories | Percentage |
---|---|---|
Coursework | Seminar portfolio | 50 |
Written Exam | Two hour unseen examination | 50 |
Total (to equal 100%) | 100% |
It IS NOT a requirement that any element of assessment is passed separately in order to achieve an overall pass for the module.
Carlin, Wendy and David Soskice (2015), Macroeconomics: institutions, instability, and the financial system, Oxford: Oxford University Press.
Gravelle, H. and R. Rees (2005). Microeconomics, 3rd Edition, Harlow: Financial Times Prentice Hall.
Macho-Stadler, I. And J. David Perez-Castrillo (2001).
An Introduction to theory of Information: Incentives and contracts, 2nd edition, Oxford: Oxford University Press.
Jones, C., (2010). Macroeconomics, New York: W.W. Norton
Miles, D. and A. Scott (2005). Macroeconomics: Understanding the Wealth of Nations, New York: W.W. Norton.