Macroeconomics
| Module title | Macroeconomics |
|---|---|
| Module code | BEEM100 |
| Academic year | 2025/6 |
| Credits | 15 |
| Module staff | Professor Miguel Leon-Ledesma (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 40 |
|---|
Module description
Summary:
By the end of the module you should be able to manipulate a number of theoretical models to analyse key contemporary macroeconomic issues, such as what influences the business cycle and long-run growth; how the behaviour of households, firms, and governments affect aggregate welfare; how asset prices are determined; and how macroeconomic policy can improve wellbeing.
Sustainability
All the module materials can be downloaded from the ELE (Exeter Learning Environment).
Employability
Previous students have successfully found jobs in centres that deal with current trends in economic activity and government institutions, such as central banks. It is also a necessary module for anyone wishing to pursue PhD study in this area.
Module aims - intentions of the module
The module explores the core areas of modern macroeconomics. The aim is to develop understanding of macroeconomic models from microfoundations, as it becomes increasingly necessary in contemporary approach. The emphasis will be on learning theoretical concepts and analytical techniques, as an aide to understanding contemporary macroeconomic problems.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. manipulate theoretical models to analyse macroeconomic issues, with national and global applications;
- 2. understand macroeconomic articles in academic journals.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 3. formulate and manipulate economic models of any kind (appropriate to masters level);
- 4. place an economic problem in its broader social and political context;
- 5. understand the sources and content of economic data and evidence and of those methods that might be applied appropriately to the analysis and interpretation of such data in light of theory.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 6. show confidence in identifying, tackling and solving research problems;
- 7. apply logical thinking and analytical rigor;
- 8. display inductive and deductive reasoning skills;
- 9. work independently.
Syllabus plan
The module covers the following topics:
1. Capital accumulation and growth
2. Consumption-savings Choice under Certainty
3. Consumption-savings-portfolio Choice under Uncertainty and Asset Pricing
4. Labor Supply decisions and the labor market
5. Investment decisions by firms
6. Macroeconomic equilibrium
7. Business cycles
Throughout, lectures discuss important economic principles and implications for macroeconomic policy.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 29 | 121 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activities | 22 | Lectures |
| Scheduled Learning and Teaching Activities | 7 | Seminars |
| Guided Independent Study | 121 | Guided Independent Study |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Weekly problem sets | 1-4 problems per seminar | 1-9 | Oral, in seminars |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 0 | 100 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Mid-term Exam | 20 | 2 hours take-home time-limited problem set | 1-9 | Written |
| Final Exam | 80 | 3 hours | 1-9 | Written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Mid-term Exam (20%) | Mid-Term Exam (20%) 2 hours take-home time-limited problem set | 1-9 | Referral/deferral period |
| Final Examination (80%) | Written Examination (80%) 3 hours | 1-9 | Referral/deferral period |
Indicative learning resources - Basic reading
This module will follow a textbook:
1. Kurlat, P. (2020) A Course in Modern Macroeconomics. Independently Published.
Additional textbooks to support learning:
2. Romer, D. (2019) Advanced Macroeconomics, 5th Edition, McGraw Hill
3. Ljungqvist, L. and Sargent, T. (2018). Recursive Macroeconomic Theory. 4th Edition. MIT press.
Where the textbooks are unsuitable, additional reading materials will be distributed to course participants.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | BEEM103 (BEEM101 recommended) |
| Module co-requisites | None |
| NQF level (module) | 7 |
| Available as distance learning? | No |
| Origin date | 03/09/2007 |
| Last revision date | 30/01/2025 |
