Postgraduate Course: Analytical Techniques in Macroeconomics (ECNM11093)

Course Outline
School	School of Economics	College	College of Arts, Humanities and Social Sciences
Credit level (Normal year taken)	SCQF Level 11 (Postgraduate)	Availability	Not available to visiting students
SCQF Credits	10	ECTS Credits	5
Summary	This course helps students understand the key macroeconomic framework, i.e., the rational expectation equilibrium model and the dynamic stochastic general equilibrium (DSGE) model, and applies the dynamic programming techniques to analyse classical macroeconomic models such as the real-business cycle model, the new Keynesian model, the matching frictions in the labour market, and/or credit market imperfections. These topics are treated in a mathematical way and may vary from year to year. During this course, students would learn how to obtain economic intuitions by analysing the derived equilibrium conditions qualitatively using pen and paper and how to analyse macroeconomic models quantitatively using some of the commonly used numerical methods such as value function iteration and first order perturbation. Students are recommended to take Mathematical Microeconomics 1 or Microeconomics 1 in Semester 1 to strengthen their mathematical background.
Course description	This course is designed to deepen the understanding of the key macroeconomic framework and to teach students the key analytical techniques used in macroeconomic analysis. Specifically, students would learn what rational expectation equilibrium is, what dynamic programming is, how to apply dynamic programming to find the equilibrium conditions, and how to analyse the equilibrium conditions qualitatively and quantitatively.

Entry Requirements (not applicable to Visiting Students)
Pre-requisites		Co-requisites
Prohibited Combinations		Other requirements	None

Course Delivery Information

Academic year 2022/23, Not available to visiting students (SS1)		Quota: 0
Course Start	Block 4 (Sem 2)
Timetable	Timetable
Learning and Teaching activities (Further Info)	Total Hours: 100 ( Lecture Hours 54, Programme Level Learning and Teaching Hours 2, Directed Learning and Independent Learning Hours 44 )
Assessment (Further Info)	Written Exam 100 %, Coursework 0 %, Practical Exam 0 %
Additional Information (Assessment)	100% Written Exam
Feedback	Not entered
Exam Information
Exam Diet	Paper Name		Hours & Minutes
Main Exam Diet S2 (April/May)			2:00

Learning Outcomes
On completion of this course, students will be able to demonstrate detailed knowledge and understanding of the key macroeconomic framework and the key analytical techniques used in macroeconomics. They will be familiar with how macroeconomic models are solved and interpreted. These skills would be of great help for students who want to be able to read and understand academic papers on macroeconomics, and/or study further in macroeconomics.