EC413 One Unit
Macroeconomics
This information is for the 2025/26 session.
Course Convenor
Prof Matthias Doepke
Prof Rachel Ngai
Availability
This course is compulsory on the MSc in Economics and MSc in Economics (2 Year Programme). This course is available on the MSc in Finance and Economics and MSc in Finance and Economics (Work Placement Pathway). This course is available with permission as an outside option to students on other programmes where regulations permit. This course uses controlled access as part of the course selection process.
How to apply: This course is intended for MSc Economics and MSc Economics (2 Year Programme) students. Any external student must have successfully completed EC400 in September and/or have approval of the Department of Economics.
Deadline for application: Please apply as soon as possible after the opening of course selection for all courses.
For queries contact: Econ.msc@lse.ac.uk
Requisites
Pre-requisites:
Students must have completed EC400 before taking this course.
Additional requisites:
In exceptional circumstances, students may take this course without EC400 provided they meet the necessary requirements and have received approval from the course conveners, 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 (Autumn)
The Autumn 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), the Malthus model, growth accounting, and endogenous technical change.
Business Cycles (Winter)
During the Winter term of EC413 you will learn the main characteristics of business cycle fluctuations and macroeconomic models that offer insights into understanding business cycle fluctuations. We will study the canonical macroeconomic model, beginning with a one-sector frictionless model featuring a representative agent, and the progressing to models incorporating home production, labour and financial markets frictions. Each model teaches valuable lessons about the behaviour of business cycle. Finally, we discuss the roles of macroeconomic policies.
Teaching
1 hours of seminars in the Spring Term.
20 hours of lectures and 9 hours of seminars in the Winter Term.
20 hours of lectures and 9 hours of seminars in the Autumn Term.
This course has a reading week in Week 6 of Autumn and Winter Term.
This course is delivered through a combination of classes and lectures totalling a minimum of 59 hours across Autumn Term, Winter Term, and Spring Term.
Formative assessment
Two marked assignments per term. Exercises are discussed in weekly classes.
Indicative reading
Primary reading will be journal articles and a few chapters from Daron Acemoglu, Introduction to Modern Economic Growth. A full list will be available at the start of each term.
Assessment
Exam (45%), duration: 120 Minutes, reading time: 15 minutes in the January exam period
Exam (45%), duration: 120 Minutes, reading time: 15 minutes in the Spring exam period
Continuous assessment (10%)
This course is IRDAP-enabled, meaning that resit and deferred assessments will take place in August 2026.
Key facts
Department: Economics
Course Study Period: Autumn, Winter and Spring Term
Unit value: One unit
FHEQ Level: Level 7
CEFR Level: Null
Total students 2024/25: 162
Average class size 2024/25: 15
Controlled access 2024/25: YesCourse selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.