Academic year(s): 2018-2019
SCOTCAT credits : 20
ECTS credits : 10
Level : SCQF Level 11
Availability restrictions: UG - Available only to students in the second year of the Honours programme with the permission of the Director of Teaching who have achieved at least 17.5 in EC3303 or EC3306.
The module will provide a thorough advanced treatment of the core models and concepts used in modern macroeconomics; for example the infinite horison Ramsey model and finite horizon overlapping generations model and models that have been used to characterise short term fluctuations, such as the real business cycle approach and the New Keynesian approach. Among other things, the module will seek to explain the development of microbased macroeconomic theory, use models to predict the impact of policy changes on endogenous variables and critique modelling assumptions, especially in the context of policy analysis. Students are expected to have a strong undergraduate level training in macroeconomics, microeconomics and relevant mathematical and statistical techniques. Before commencement of the module, supplementary lectures will be given on the relevant mathematical methods.
Pre-requisite(s): Undegraduate students must be in the second year of an honours programme, have scored 17. 5 or greater in EC3303 or EC3306 and have the permission of the director of teaching.
Weekly contact: 20 hours of lectures over 10 weeks, 1-hour tutorial (x 10 weeks) plus 1 office hour (x 12 weeks).
Scheduled learning hours: 30
Guided independent study hours: 170
As used by St Andrews: 3-hour Written Examination = 60%, Coursework (including class test 15%) = 40%
As defined by QAA
Written examinations : 60%
Practical examinations : 0%
Re-assessment: 3-hour Written Examination = 100%
Module coordinator: Dr O Senay
Module teaching staff: Dr O Senay