Advanced Macroeconomics - EC805

Location Term Level Credits (ECTS) Current Convenor 2019-20
(version 3)
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7 15 (7.5)







The main aim of this module is to provide students with knowledge of core macroeconomic theory at the graduate level. The focus is on learning theoretical concepts and analytical techniques as an aid to understanding complex contemporary macroeconomic problems. In addition, the module will develop the toolbox essential for understanding all other macro-related modules in the programmes of students' further choice. The module is organized in three key parts. The first part deals with microeconomic foundations of macroeconomics and introduces rational expectations. The second part analyses short-term fluctuations in macroeconomic performance and how macroeconomic policy may be used to address these. Specifically, it provides rigorous treatment of the Real Business Cycle theory and monetary/fiscal policy as regulatory instruments. The third part deals with economic growth as a fundamental determinant of long-term macroeconomic performance.


This module appears in:

Contact hours

30 hours of academic teaching in the form of lectures and seminars

Method of assessment

20% In-Class Test (80 minutes)
80% Examination (2 hours)

Indicative reading

• Williamson, Stephen. Macroeconomics. 6th Edition. Pearson, 2018
• Chugh, Sanjay. Modern Macroeconomics. MIT Press, 2015
• McCandless, George. The ABCs of RBCs. Harvard University Press, 2008

See the library reading list for this module (Canterbury)

Learning outcomes

On successfully completing the module students will be able to:

• demonstrate profound knowledge of theoretical models to analyse macroeconomic problems.
• comprehensively understand and critically evaluate macroeconomic phenomena
• clearly understand feedbacks between macroeconomic and microeconomic activity
• comprehensively understand actions and behaviour of government institutions overseeing macroeconomic activity
• form their own independent opinion on ongoing macroeconomic issues
• present deep economic analysis of complex and controversial issues in seminars and essays
• critically reflect on advanced academic work
• comprehensively understand core agenda of institutions that formulate and implement macroeconomic policy

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