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ES52050: Advanced economic theory

[Page last updated: 14 August 2024]

Academic Year: 2024/25
Owning Department/School: Department of Economics
Credits: 10 [equivalent to 20 CATS credits]
Notional Study Hours: 200
Level: Masters UG & PG (FHEQ level 7)
Period:
Semester 2
Assessment Summary: EXCB 100%
Assessment Detail:
  • In person unseen examination (EXCB 100%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites: Before taking this module you must take ES52068
Learning Outcomes: At the end of the unit, students should be able to: apply different approaches of modelling microeconomic phenomena understand and develop logically rigorous arguments read advanced economic theory papers understand advanced contemporary macroeconomic analysis evaluate a range of properties of macroeconomic models and their implications for the derivation of optimal macroeconomic policy independently analyse the properties of modern macroeconomic models in the light of current macroeconomic research questions


Synopsis: Enhance your ability to develop logical and rigorous economics arguments, and use mathematical techniques to construct and interpret economic models. This unit is split into microeconomic and macroeconomic parts. - microeconomics will focus on the behaviour of economic agents - macroeconomics will focus on the analytical properties of modern dynamic macroeconomic models and their related policy applications. Through both areas you will engage with key research articles.

Content: Microeconomic topics may include: matching and assignment problems; models of knowledge in economic theory and applications of these models; No-trade theorems; Market crashes without external shocks; Strategic information transmission. Macroeconomic topics may include: stability of dynamic economies, endogenous growth, impulse and propagation of economic shocks, welfare analysis and optimal economic policy.

Course availability:

ES52050 is Compulsory on the following courses:

Department of Economics

ES52050 is Optional on the following courses:

Department of Economics

Notes:

  • This unit catalogue is applicable for the 2024/25 academic year only. Students continuing their studies into 2025/26 and beyond should not assume that this unit will be available in future years in the format displayed here for 2024/25.
  • Courses and units are subject to change in accordance with normal University procedures.
  • Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
  • Find out more about these and other important University terms and conditions here.