Module Details

EC324-6-SP-CO: Macroeconomics (Advanced)

Year: 2016/17
Department: Economics
Essex credit: 15
ECTS credit: 7.5
Available to Study Abroad / Exchange Students: Yes
Full Year Module Available to Study Abroad / Exchange Students for a Single Term: No
Outside Option: Yes
Pre-requisites: EC201
Co-requisites:

Staff
Supervisor: Prof Thomas Crossley
Teaching Staff: Prof Thomas Crossley
Contact details: For further information, send an email message to ueco@essex.ac.uk.

Module is taught during the following terms
Autumn Spring Summer

Module Description

The module is intended to complement and extend the material covered in intermediate macroeconomics. There is a particular focus on the data of macroeconomics. We will cover the measurement of output in the national accounts; prices; wages and unemployment; productivity. We will discuss the difficulties in measuring these aspects of the economy; how economic data are used to test alternative macroeconomic theories discussed in intermediate macroeconomics; how economic data support macroeconomic policy making; and how different decisions about measurement can lead to different conclusions about the function of economies or the appropriate path of economic policy. Key ideas in the module will be illustrated with reference to recent events and current policy debates.

This module aims to give students an understanding of the main types of economic data; how those data are collected, constructed and used. Upon successful completion of this module, students will be able to approach macroeconomic data critically, and to evaluate the strength of empirical evidence for macroeconomic theories and macroeconomic policy positions. In completing the coursework test, students will demonstrate their problem-solving, analytical and deductive skills. By solving class exercises in groups at home, students will furthermore have practised their ability to work in a team and their adaptability.

Learning and Teaching Methods

Two 1-hour lectures and class per week

Assessment

Whichever is the Greater: EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark OR 100 per cent Exam Mark

Coursework

One test to be taken during the term and one group project. Feedback for this module will occur through class meetings where we will go over the answers to problem sets and where you will be able to ask questions about your own method of solution; answers that will be posted on the website for the module that will give you written guidance on the appropriate method to approach the problems on the problem sets, mock midterm, midterm and mock final,; and office hours where any additional questions can be addressed. You should be sure that you use these methods to understand how to improve your own performance. In addition the group work report will be returned with feedback that addresses what the marking criteria are and how your group could improve their own work.

Exam Duration and Period

2:00 during Summer Examination period.

Bibliography

  • Sorensen, P. and H. Whitta-Jacobsen: Introducing Advanced Macroeconomics: Growth and Business, McGraw-Hill, 2005.

Further information