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Advanced Macroeconomics

Key information

  • Module code:

    6SSPP365

  • Level:

    6

  • Semester:

      Autumn

  • Credit value:

    15

Module description

The course aims to take students beyond the standard IS/LM approach to undergraduate economics. A key theme is the importance of expectations. This is illustrated with reference to the exchange rate, wage and price behaviour, consumer spending and the budget deficit. The course also focuses on some of  the issues raised by the financial crisis of 2008/9. In particular it discusses the financial accelerator and macroprudential regulation, unconventional monetary policy, the re-emergence of inflation, and the weakness in productivity growth which has emerged since the crisis.
The course is taught by means of ten two-hour lectures and fortnightly seminars. The latter focus on problem-solving. 

Assessment details

1 ½ -hour written exam (70%), 5-minute video (30%)

SEM1-only students will be given an appropriate alternative assessment for In person January exams.

Educational aims & objectives

  • To provide an economic analysis of modern macroeconomic modelling

  • To introduce students to some of the most important open questions in macroeconomics

  • This course will utilise and enhance skills that began to be developed in Intermediate Microeconomics, Macroeconomics and Mathematics for Economists

Learning outcomes

By the end of the module:

  • Students will have a solid knowledge of the core subjects of macroeconomic theory.

  • Will have developed analytical skills, such as intertemporal maximization.

  • Will have a more thorough understanding of the policy issues facing advanced economies.

Teaching pattern

Topics Covered (provisional)

  1. Analysing the IS-MP-PC model

  1. The Open Economy

  1. Taylor principle, the zero lower bound and the liquidity trap

  1. Consumption

  1. Fiscal Policy

  1. The Declining Real Rate of Interest

  1. Inflation, Inflation Expectations and Monetary Independence

  1. The Financial Accelerator and Macroprudential Regulation

  1. Monetary Policy and the Inflation Surge

  1. Growth and Productivity

Subject areas

Department

Module description disclaimer

King’s College London reviews the modules offered on a regular basis to provide up-to-date, innovative and relevant programmes of study. Therefore, modules offered may change. We suggest you keep an eye on the course finder on our website for updates.

Please note that modules with a practical component will be capped due to educational requirements, which may mean that we cannot guarantee a place to all students who elect to study this module.

Please note that the module descriptions above are related to the current academic year and are subject to change.