Macroeconomic Theory 1 and 2 ECON5080

  • Academic Session: 2023-24
  • School: Adam Smith Business School
  • Credits: 40
  • Level: Level 5 (SCQF level 11)
  • Typically Offered: Runs Throughout Semesters 1 and 2
  • Available to Visiting Students: No

Short Description

Macroeconomic Theory 1/2 is the first year MRes macroeconomics sequence. It discusses dynamic general equilibrium models, and applications to growth, business cycles, Keynesian dynamic, stochastic, public finance, monetary economics, and related subjects, at a graduate level.


40 hours of lectures (4 hours per week, during 10 weeks), in each of semesters 1 and 2.

Requirements of Entry


Excluded Courses





In-course tests in each semester (25% each).

A comprehensive final exam (3 hours) in April/May (50%).

Main Assessment In: April/May

Course Aims

To provide deep understanding of the significant theoretical foundations of macroeconomics, informed by forefront developments and at the advanced level. 

To develop critical skills and deep knowledge of contemporary forefront macroeconomics necessary for a career in all areas where advanced research skills in economics are required.

It is intended to be comparable to courses taught at the MRes programs in the best research universities in the USA and elsewhere in Europe.

Intended Learning Outcomes of Course

By the end of this course students will be able to:


■ Demonstrate a broad and deep knowledge, informed by a forefront development of advanced core areas of Macroeconomics.

■ Demonstrate critical understanding of forefront analytical methods, both theory- and model-based, by applying critical analysis, evaluation, and synthesis.

■ Identify, conceptualize, and define appropriate economic models to analyse wide range of problems.

■ Justify conclusions using economic arguments with appropriate rigor and originality, while employing a significant range of principal professional skills and techniques.

Minimum Requirement for Award of Credits

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.