EC4302
MACROECONOMIC ANALYSIS III (2015/2016, Semester 1) 

 MODULE OUTLINE Created: 04-Jun-2015, Updated: 04-Jun-2015
 
Module Code EC4302
Module Title MACROECONOMIC ANALYSIS III
Semester Semester 1, 2015/2016
Modular Credits 5
Faculty Arts & Social Sciences
Department Economics
Timetable Timetable/Teaching Staff
Module Facilitators
DR Aamir Rafique Hashmi Lecturer
Weblinks
Tags macro3quantitative


Learning Outcomes | Prerequisites | Syllabus | Assessment | Preclusions | Workload


 LEARNING OUTCOMES Top
    The objectives of this module are:
  1. To introduce the students to some basic methods of dynamic macroeconomics. These methods will include optimal control and may also include dynamic programming.
  2. To introduce the students to the workhorse models of macroeconomic research. These models include the infinite-horizon and overlapping-generations models.
  3. To discuss some theories of economic growth and business cycles using the above methods and models.
  4. To expose the students to some state-of-the-art research in macroeconomics.
The first three objectives will be achieved through the conventional lecture-tutorial methods. The fourth objective will be accomplished through a project in which each group of two students will be assigned a research article on some macroeconomic issue and will be asked to summarize the contents of the article in writing and also present them before the class. The details about the project will be given in the class.


 PREREQUISITES Top
Cohort 2011 and before: Completed 80 MCs, including 28 MCs in EC, with a minimum CAP of 3.50 or be on the Honours track . Min avg grade point for EC3101 and EC3102 together of 4.00. Note: If student do not have the current pre-requisites for EC4101 and EC4102 but have: 1. passed at least 14 EC modules (or 56MCs) (inclusive of EC3101 and EC3102, and; 2. obtained an SJAP (avg grade of all EC modules) of at least 3.50, then student may submit an appeal for the prerequisite waiver using CORS. Cohort 2012 onwards: Completed 80 MCs, including 28 MCs in EC, with a minimum CAP of 3.20 or be on the Honours track. Min avg grade point for EC3101 and EC3102 together of 4.00. Note: If student do not have the current pre-requisites for EC4101 and EC4102 but have: 1. passed at least 14 EC modules (or 56MCs) (inclusive of EC3101 and EC3102, and; 2. obtained an SJAP (avg grade of all EC modules) of at least 3.50, then student may submit an appeal for the prerequisite waiver using CORS.


 SYLLABUS Top
Topics to be covered: This list is not final. I may make changes to it along the way.
  • The Neo-Classical Growth Model in Continuous Time (Solow and Ramsey-Cass-Koopmans Models)
  • The Overlapping Generations Model
  • Introduction to the Endogenous Growth Models
  • An Endogenous Growth Model with R&D (Romer's Model)
  • An introduction to the Real Business Cycle (RBC) Theory
  • An introduction to the New Keynesian Models of Incomplete Nominal Adjustment
  • Dynamic Models of Incomplete Nominal Adjustment
Textbook: Romer, David. 2012. Advanced Macroeconomics (4th Edition). McGraw-Hill Irwin, New York, NY, USA.


 ASSESSMENT Top
  • Class Participation (10%): This will include attendance in the lectures and tutorials and participation in discussion during the tutorials.
  • Project (20%): A 1000-word nontechnical summary of a recent research paper on macroeconomics. The instructor will choose and randomly assign the papers to the students. More details will be provided in the class.
  • Mid-term exam (30%)
  • Final exam (40%)


 PRECLUSIONS Top
EC4102


 WORKLOAD Top
0-3-0-3-6.5

Workload Components : A-B-C-D-E
A: no. of lecture hours per week
B: no. of tutorial hours per week
C: no. of lab hours per week
D: no. of hours for projects, assignments, fieldwork etc per week
E: no. of hours for preparatory work by a student per week