ECS507 PhD Macroeconomics II

• Topics

  This course is designed for first year PhD students. We will use a basic neo-classical macro model as a workhorse to introduce price frictions and heterogeneity in turn. Knowledge of a basic Real Business Cycle (RBC) model is a prerequisite.

  The models we use and tools we learn is of interest even if you do not wish to become a macroeconomist. Several features, such as monopolistic competition and incomplete markets, are used in other fields as well.

• Learning outcome

  Upon completion of the course, the student can:

  Knowledge

  • Formulate the standard RBC model
  • Discuss how to introduce sticky prices into RBC models
  • Solve for optimal monetary policy

  Skill

  • Formulate and solve a dynamic optimisation problem
  • Solve system of linear equations using log linearisation

  General competence

  • Convert real world concerns and policy debate to formal modelling
  • Build a research idea

• Teaching

  The course consists of plenary lectures.

• Restricted access

  • PhD candidates at NHH
  • PhD candidates at Norwegian institutions
  • PhD candidates at other institutions
  • PhD candidates from the ENGAGE.EU alliance
  • Motivated master’s students may be admitted after application, but are subject to the approval from the course responsible on a case by case basis
  • Individuals outside academia may be admitted after application, but are subject to the approval from the course responsible and the Vice Rector for Research on a case by case basis

• Recommended prerequisites

  ECS506 PhD Macroeconomics I

• Compulsory Activity

  Completion of 3 mandatory assignments.

  Compulsory activities (work requirements) are valid for one semester after the semester they were obtained.

• Assessment

  One individually written assignment (100%). The assignment will be distributed after the final lecture and must be submitted within three weeks.

• Grading Scale

  Pass-fail

• Computer tools

  Matlab

• Retake

  Re-take is offered the semester after the course was offered for students with valid compulsory activities (work requirements). Additionally, the students must fulfill one of the two requirements listed below in order to be eligible for re-take:

  • Students who, at the original exam failed or got a grade below C
  • Students who were sick on the day of the exam and has provided a valid sick note ("sykemelding")