Undergraduate Course: Topics in Macroeconomics (ECNM10069)
Course Outline
| School | School of Economics |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Availability | Available to all students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | This course is designed to provide a coherent development of some important topics in macroeconomic analysis at a more advanced level than that of standard intermediate courses. It thus extends and deepens the work of Economics 1 and Economics 2, bridging the gap between intermediate and graduate level courses in economics, and providing insight into some recent areas of economic research activity. Throughout there is an emphasis on the application of economic principles.
The course has a mathematical content and knowledge of calculus is assumed. |
| Course description |
One block is likely to cover productivity differences across countries. Here we investigate to what extent the exogenous and endogenous accumulation of human and physical capital as well as technology explain differences in GDP per worker across the world. If time permits we will also study the issue of structural transformation and its link to cross-country income differences.
The other block is likely to cover the issue of time inconsistency in policy. We investigate the effect of time inconsistency and commitment instruments on the design and optimality of policies. If time permits we will study several prominent areas of macroeconomics where time consistency matters, including monetary policy, fiscal policy, political dynamics, as well as government debt and default.
The course is taught through a programme of lectures and tutorials.
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Information for Visiting Students
| Pre-requisites | Visiting students should usually have at least 3 Economics courses at grade B or above (or be predicted to obtain this) for entry to this course. This MUST INCLUDE courses in both Macroeconomics and Microeconomics. We will only consider University/College level courses. |
| High Demand Course? |
Yes |
Course Delivery Information
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| Academic year 2015/16, Available to all students (SV1)
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Quota: None |
| Course Start |
Semester 2 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Lecture Hours 30,
Seminar/Tutorial Hours 8,
Summative Assessment Hours 3,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
155 )
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| Assessment (Further Info) |
Written Exam
80 %,
Coursework
20 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
A 2 hour degree examination in April/May (80%), coursework (20%). The coursework assessment consists of a timed, assessed exercise (take-home assignment). |
| Feedback |
Individual written feedback on submitted take-home assignment. |
| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
|
| Main Exam Diet S2 (April/May) | | 2:00 | |
Learning Outcomes
On completion of this course, the student will be able to:
- A knowledge and understanding of principles and models used in macroeconomic analysis and associated mathematical and statistical techniques, along with applications and policy implications of those models.
- Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
- Communication skills in order to critique, create and communicate understanding.
- Personal effectiveness through task-management, time-management, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
- Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.
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Reading List
There is no single text that covers all aspects of this course at an appropriate level.
An introduction to time inconsistency in macroeconomics may be found in Romer, D., (2010), Advanced Macroeconomics, McGraw Hill, Chapter 10.
An introduction to material on income differences may be found in Caselli, F., (2005), ¿Accounting for Cross-Country Income Differences¿, in Handbook of Economic Growth, Vol. 1A, ed. P Aghion and S. Durlauf, 679-741, North Holland.
Available at: http://personal.lse.ac.uk/casellif/papers/handbook.pdf
Additional readings will be specified for each topic. |
Additional Information
| Graduate Attributes and Skills |
See Learning Outcomes |
| Additional Class Delivery Information |
3 lectures per week lasting 1 hour, 8 weekly tutorials lasting 1 hour to be arranged in addition. |
| Keywords | TiMacro |
Contacts
| Course organiser | Dr Richard Holt
Tel: (0131 6)50 8350
Email: Richard.Holt@ed.ac.uk |
Course secretary | Ms Dawn Hutcheon
Tel: (0131 6)51 5958
Email: Dawn.Hutcheon@ed.ac.uk |
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