Year of entry: 2018
Course unit details:
|Unit level||Level 3|
|Teaching period(s)||Semester 2|
|Available as a free choice unit?||Yes|
See course Blackboard pages.
|Unit title||Unit code||Requirement type||Description|
The aims of this course are to:
- Familiarize students with recent developments in macroeconomic theory and policy issues, particularly on economic growth.
- Provide students with the foundation for postgraduate macroeconomics courses.
At the end of this course, you should be able to:
- Demonstrate their understanding of the development of growth theory.
- Critically evaluate neoclassical and endogenous growth models.
- Demonstrate the understanding on the origin of business cycles and related policy issues.
Topic 1: Introduction to Economic Growth.
Topic 2: Solow Model.
Topic 3: Endogenous Growth Theory.
Topic 4: Endogenous Technological Change.
Topic 5: Credibility and Reputation in Monetary Policy.
Teaching and learning methods
Lectures and exercise classes.
- Analytical skills
- Problem solving
- Mid-Term Test (10%).
- Final Exam (90%).
- Class feedback.
- Office hours.
- Revision sessions.
- Advanced Macroeconomics by David Romer, McGraw Hills.
- Introduction to Economic growth by Charles I. Jones, W.W. Norton and Company.
In addition, the following references from the following journal articles may facilitate your understanding of the course materials. These journals should be available in the John Ryland and/or Lewis Library, and most of them can be found through the web page http://rylibweb.man.ac.uk/eres/journals.html.
Theories of Economic Growth:
- Relevant chapters from the text: Romer, Ch. 1; Jones, Ch. 1 - 5, and 8.
- Additional Readings:
- Solow, R.M., 'Perspective on Growth theory." Journal of Economic Perspectives, Winter 1994, 45-54.
- Romer, P.M., "The Origins of Endogenous Growth." Journal of Economic Perspectives, Winter 1994, 3-22.
- Romer, P.M., 'Increasing Returns and Long Run Growth.' Journal of Political Economy, 1986, 94(5):1002-1037.
- Romer, P.M., 'Endogenous Technological Change.' Journal of Political Economy, 1990, 98(5) part 2:71-102
- Lucas, R E. 'On the Mechanics of Economic Development.' Journal of Monetary Economics, 1988, 22:3-42.
Business Cycle Theories:
- Relevant chapters from the text: Romer, Ch. 4 and 6.
- Additional Readings:
- Mankiw, N.G., "Real Business Cycles: A New Keynesian Perspective." Journal of Economic Perspectives, Summer 1989, 79-90.
- Plosser, C.I., 'Understanding Real Business Cycles." Journal of Economic Perspectives, Summer 1989, 51-75.
- Mankiw, N.G., "Small Menu Costs and Large Business Cycles: A Macroeconomic Model of Monopoly." Quarterly Journal of Economics, 1985.
|Scheduled activity hours|
|Assessment written exam||1.5|
|Independent study hours|
|Mohammad Haque||Unit coordinator|