ECO3002 : Advanced Macroeconomics
- Offered for Year: 2019/20
- Module Leader(s): Dr Jong Shin
- Lecturer: Dr Wessel Vermeulen, Professor Giorgio Fazio
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
|Semester 1 Credit Value:||10|
|Semester 2 Credit Value:||10|
The module develops a set of tools which enables us to think about dynamic (today vs tomorrow) problems relevant to modern economic policy. This includes growth, consumption, business cycle, and monetary and fiscal policy. We pursue a rigorous treatment in the analysis of selected macroeconomic issues. This means we will rely on ‘simple’ abstraction of real world using mathematical devices – starting from certain premises which allows us to simplify complex reality and arrive at some conclusions. This approach has several benefits over those rely mainly on intuition, metaphor and/or anecdotes. First, we are able to identify the mechanisms behind economic phenomenon clearly. Second, therefore, our policy suggestions would be well-founded and sensible. Third, policy debates can be more precise and scientific, rather than consumptive and unproductive.
Outline Of Syllabus
The module covers policy-relevant macroeconomics topics such as:
Micro-foundations of macroeconomic models and market imperfection
Real business cycle model and New Keynesian macroeconomics
Macroeconomic policy – fiscal and monetary
|Guided Independent Study||Assessment preparation and completion||1||64:00||64:00||N/A|
|Scheduled Learning And Teaching Activities||Lecture||14||2:00||28:00||N/A|
|Scheduled Learning And Teaching Activities||Lecture||2||1:00||2:00||N/A|
|Guided Independent Study||Directed research and reading||1||50:00||50:00||N/A|
|Scheduled Learning And Teaching Activities||Small group teaching||6||1:00||6:00||N/A|
|Guided Independent Study||Independent study||1||50:00||50:00||N/A|
Teaching Rationale And Relationship
Lectures provide detailed overviews. Seminars provide opportunities to go into greater depth through exercises and discussion.
The format of resits will be determined by the Board of Examiners
|Written Examination||60||1||M||25||Interim assessment (in-class)|
|PC Examination||2||M||Mock exam provided via Blackboard|
|Prob solv exercises||1||M||Seminar questions are provided|
|Prob solv exercises||2||M||Seminar questions are provided|
Assessment Rationale And Relationship
The interim assessment in semester 1 is aimed for timely student feedback.
The final written exams will provide evidence of understanding of concepts and ability to analyse economic problems.