Advanced Macroeconomics

ECS502 Advanced Macroeconomics

  • Topics

    Topics

    This course is designed to give first year Ph.D. students an introduction to a broad selection of topics in macroeconomics at a more advanced level. The course should give a good understanding of major issues in modern macroeconomics - and should provide the necessary background for other more specialized courses in various macroeconomic subfields.

    The course will cover a broad selection of the following topics:

    - Brief intro to modern macroeconomics

    - Neoclassical growth models: Solow and Ramsey models

    - Overlapping Generations (OLG) models

    - Endogenous growth

    - Real Business Cycles and dynamic stochastic general equilibrium theory

    - Monetary models and business cycles

    - Search and matching models

    - Fiscal Policy

  • Learning outcome

    Learning outcome

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

    Knowledge

    - understand workhorse models in modern macroeconomics;

    - use basic mathematical tools to solve a macroeconomic model;

    Skills

    - understand how to build a model to analyze macroeconomic research questions;

    - analyse economic questions with modern macro models;

    - model explicitly individual decision making, and then analyse aggregate behavior;

    General competence

    - communicate research questions, solution methods and answers clearly. 

  • Teaching

    Teaching

    Lectures and mandatory assignments.

  • Required prerequisites

    Required prerequisites

    It is assumed as a prerequisite that students are familiar with macroeconomics at an intermediate level. (For example R. Barro, Macroeconomics, MIT Press).

  • Requirements for course approval

    Requirements for course approval

    Participation in lectures and completion of mandatory assignments.

  • Assessment

    Assessment

    4-hour written school exam.

  • Grading Scale

    Grading Scale

    Pass/Fail.

  • Semester

    Semester

    Spring.

  • Literature

    Literature

    The main textbook is David Romer (2006) Advanced Macroeconomics. The readings will be supplemented with chapters from Ljungvist and Sargent (2004), Recursive Macroeconomic Theory (MIT Press), and with lecture notes.

    The actual reading list will be presented at the start of the course.

Overview

ECTS Credits
7.5
Teaching language
English.
Semester
Spring

Course responsible

Gernot Doppelhofer and  Krisztina Molnar, Department of Economics