Module overview
Modern macroeconomic research in academic, government and other institutions relies heavily on using numerical methods to simulate economic models and generate counterfactual outcome for policy analysis. This odule will familiarise the students with numerical methods that are state-of-the-art in macroeconomic research.
Aims and Objectives
Learning Outcomes
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- Apply software programming skills in solving problems
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- Numerical methods in macroeconomics
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- Solve dynamic optimisation problems using adequate, including numerical methods.
- Apply adequate software to solve dynamic macroeconomic models
Syllabus
Indicative list of topics covered in this module:
Deterministic dynamic programming
(Log-)Linearisation techniques
Markov processes
Stochastic dynamic programming
Numerical dynamic programming
Projection methods
Learning and Teaching
Teaching and learning methods
Lectures, masterclasses and computer classes.
| Type | Hours |
|---|---|
| Independent Study | 126 |
| Teaching | 24 |
| Total study time | 150 |
Assessment
Assessment strategy
Assessment on this module is in the form of software-based assignments, one group coursework (worth 20% of the final mark) during the mdoule and an individual end of module assignment (80%). This is supported by continuous formative assesment in the form of problem sheets. This is the same for internal repeat. Assessment for external repeat and referral is through end of module assignment only.
Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Assignment | 80% |
| Coursework assignment(s) | 20% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Assignment | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
| Method | Percentage contribution |
|---|---|
| Assignment | 100% |