Postgraduate Course: Advanced Topics in Macroeconomics (ECNM11005)
Course Outline
| School | School of Economics |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Available to all students |
| SCQF Credits | 10 |
ECTS Credits | 5 |
| Summary | The course extends the core macroeconomics course to (1) endogenous business cycle theories, and (2) issues related to inequality. These are topics of key importance in modern macroeconomics and should be taken by students who plan to do a PhD on macroeconomic theory or applied macroeconomics. |
| Course description |
The course will be divided into two main components as follows:
Component 1: The Endogenous Business Cycle Theories (Dr. Sun) Two sessions; dates TBC
There is a long tradition in the history of economics thoughts suggesting that booms sow the seeds of the subsequent busts. However, this view that business cycles are endogenous plays a small role in mainstream business cycle theory, which is dominated by the view that business cycles are exogenous. Exogenous business cycle theory views business cycles as essentially "the random summation of random causes". The standard Real Business Cycle (RBC) theory is such an example. Should there be no shocks, the economy will converge to steady state in which there are no fluctuations. By contrast, endogenous business cycle theory says that even when there are no shocks, the economy will still fluctuate perpetually in a deterministic way. Hence, cycles are embedded in the economic system.
This part of the course will introduce students to the recent developments in endogenous business cycle theory.
This course will help broaden students' horizon on business cycle theories and develop a research interest in business cycles. It also contributes to the debates on what causes business cycles and what we can do to prevent or mitigate business cycles. These are particularly beneficial to students who plan to pursue a PhD on macroeconomic theory or applied macroeconomics.
Component 2: Inequality. Empirics and some theory. Professor Jose V. Rodriguez Mora) Four sessions; dates TBC
Inequality is a prevalent topic in economics.
First, we will look at what do we mean by inequality and explore different measures of inequality. We will look at different data sources, their pros and cons, and will look at distributional accounts. We will then look at the distribution of inequality across countries, and the evolution of inequality across time.
We will also spend some time looking at intergenerational mobility and inequality of opportunity, its data challenges, and its measurement. We will explore what we know on its geographical distribution and its evolution over time.¿
Finally, we will look at the theory. We will explore models of heterogeneity in different dimensions. Look at differences in human capital accumulation, models of relative advantage in the labor market, and ways of generating fat tails.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | Students should be enrolled on MSc Economics, MSc Economics (Econometrics), MSc Economics (Finance) or MSc Mathematical Economics and Econometrics.
Any other students must email sgpe@ed.ac.uk in advance to request permission.
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Information for Visiting Students
| Pre-requisites | Students should be enrolled on MSc Economics, MSc Economics (Econometrics), MSc Economics (Finance) or MSc Mathematical Economics and Econometrics.
Any other students must email sgpe@ed.ac.uk in advance to request permission.
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| High Demand Course? |
Yes |
Course Delivery Information
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| Academic year 2024/25, Available to all students (SV1)
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Quota: None |
| Course Start |
Block 4 (Sem 2) |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
100
(
Lecture Hours 18,
Summative Assessment Hours 2,
Programme Level Learning and Teaching Hours 2,
Directed Learning and Independent Learning Hours
78 )
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| Assessment (Further Info) |
Written Exam
100 %,
Coursework
0 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
One two-hour final examination in the April/May exam diet. |
| Feedback |
Not entered |
| No Exam Information |
Learning Outcomes
| The course extends the core macroeconomics course to (1) monetary policy and monetary theory, with a special focus on the cryptocurrency Bitcoin, and (2) ¿. These are topics of key importance in contemporary macroeconomics, and should be taken by students who plan to do a PhD on macroeconomic theory or applied macroeconomics.
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Reading List
| We will update during the course |
Additional Information
| Course URL |
http://www.sgpe.ac.uk/ |
| Graduate Attributes and Skills |
Not entered |
| Keywords | Not entered |
Contacts
| Course organiser | Dr Ina Taneva
Tel: (0131 6)51 5948
Email: |
Course secretary | Miss Heather Milligan
Tel:
Email: |
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