EC413     
Macroeconomics

This information is for the 2017/18 session.

Teacher responsible

Prof Wouter Den Haan 32L.1.08A and Prof Alwyn Young 32L. 2.20

Availability

This course is compulsory on the MSc in Economics and MSc in Economics (2 Year Programme). This course is available on the MPA in European Policy-Making, MPA in International Development, MPA in Public Policy and Management, MPA in Public and Economic Policy, MPA in Public and Social Policy, MPA in Social Impact, MSc in Economics and Philosophy, MSc in Finance and Economics and MSc in Quantitative Economic History. This course is available with permission as an outside option to students on other programmes where regulations permit.

Pre-requisites

Students must have completed Introductory Course in Mathematics and Statistics (EC400).

In exceptional circumstances, students may take this course without EC400 provided they meet the necessary requirements and have received approval from the course conveners (via a face to face meeting), the MSc Economics Programme Director and their own Programme Director. Contact the Department of Economics for more information (econ.msc@lse.ac.uk) regarding entry to this course.

Course content

 

The aim of the course is to give a wide-ranging overview of modern macroeconomics.

 

Economic growth (Michaelmas)

 

The Michaelmas term of EC413 is an introduction to the techniques needed to critically read and evaluate academic research in economic growth. Topics are facts about growth, the Solow growth model (theory and empirics), the Neoclassical Growth model (growth with dynamic optimization), and endogenous technical change.

 

Business Cycles (Lent)

 

The Lent term of EC413 focuses on the main characteristics of business cycle fluctuations with a special emphasis on what happened during the financial crisis and different macroeconomic models to study business cycles. The course covers the Real Business Cycle model, the New-Keynesian model, models with frictions in labour and financial markets, agent-based models, the role of money, self-fulfilling believes, the role of monetary and fiscal policy (and in particular non-conventional monetary policy), and (un)sustainable sovereign debt.

Teaching

20 hours of lectures and 10 hours of seminars in the MT. 20 hours of lectures and 10 hours of seminars in the LT.

Formative coursework

Two marked assignments per term. Exercises are discussed in each class.

Indicative reading

Primary reading will be journal articles and a couple chapters from Daron Acemoglu, Introduction to Modern Economic Growth. A full list will be available at the start of each term.

Assessment

Exam (50%, duration: 2 hours) in the LT week 0.
Exam (50%, duration: 2 hours, reading time: 15 minutes) in the main exam period.

Key facts

Department: Economics

Total students 2016/17: 135

Average class size 2016/17: 14

Controlled access 2016/17: Yes

Lecture capture used 2016/17: Yes (LT)

Value: One Unit

Guidelines for interpreting course guide information

Course survey results

(2013/14 - 2015/16 combined)

1 = "best" score, 5 = "worst" score

The scores below are average responses.

Response rate: 100%

Question

Average
response

Reading list (Q2.1)

2.3

Materials (Q2.3)

1.9

Course satisfied (Q2.4)

2

Lectures (Q2.5)

2.1

Integration (Q2.6)

1.8

Contact (Q2.7)

2

Feedback (Q2.8)

2.5

Recommend (Q2.9)

Yes

69%

Maybe

18%

No

13%