PhD macro II

ECS507 PhD macro II

Autumn 2019

  • Topics

    This course is designed for 1st Year PhD students. We will use a  basic Real Business cycle (RBC) model as a workhorse to introduce money and labor market frictions in turn. Knowledge of a basic 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, discrete choice, incomplete information, are used in other fields as well.

  • Learning outcome


    • discuss how to introduce money into RBC  models
    • solve for optimal monetary policy, with a highlight of open questions after the 2008 recession
    • assess the consequences of basic  labor market imperfections


    • formulating and solving a dynamic optimization problem
    • solving system of linear equations using log linearization

    General competence:

    • master  how to think in a model, how to build a research idea

  • Teaching


  • Assessment



ECTS Credits
Teaching language

Spring. Offered spring 2020.

Course responsible

Associate Professor Krisztina Molnar, Department of Economics.