PhD Macroeconomics I

ECS506 PhD Macroeconomics I

Autumn 2021

  • Topics

    This is the first of two courses in macroeconomics in the PhD program in economics. This course is designed to give an introduction to a broad selection of topics and methods in macroeconomics at the PhD level. It aims at providing the necessary background for more specialized courses in various sub-fields.

    The course will cover a selection of the following topics:

    • Growth models
    • Overlapping Generations (OLG) models
    • Search models
    • Consumption
    • Fiscal Policy
    • Real Business Cycles

    A detailed syllabus will be circulated closer to the start of term.

  • Learning outcome

    By the end of the course, the students will achieve the following learning outcomes:


    • understand workhorse models in modern real macroeconomics;
    • be able to use basic mathematical tools to solve a macroeconomic model;
    • be able to use a standard numerical package to solve a model;


    • understand how to build a model to analyze macroeconomic research questions;
    • be able to analyze economic questions with modern macro models;
    • be able to model explicitly individual decision making, and then analyze aggregate behavior;
    • understand the methodology used in modern macro papers;

    General competence

    • be able to communicate research questions, solution methods, and answer clearly.

  • Teaching

    Lectures and assignments.

    All lectures will be recorded/streamed in line with the official Covid-19 guidance.

  • Restricted access

    • PhD candidates from Department of Economics, NHH
    • PhD candidates from other Departments at NHH
    • PhD candidates from University of Bergen 
    • PhD candidates from other higher educational institutions
    • Promising master students if approved by course responsible

  • Recommended prerequisites

    It is assumed as a prerequisite that students are familiar with macroeconomics at the Master level.

    Previous experience of quantitative programming (eg, Matlab, Python, Julia) will be helpful, though it is not required.

  • Requirements for course approval

    Participation in class and completion of mandatory assignments.

  • Assessment

    Three hours written school exam. Students may have to write the exam from home depending on the Covid-19 regulations at the time. The exam must be written in English.

  • Grading Scale


  • Computer tools

    Some assignments will require to code in a quantitative programming language (eg, Matlab, Julia, Python).

  • Literature

    Lecture notes and selected chapters from graduate textbooks, including:

    • Lars Ljungqvist and Thomas J. Sargent, Recursive Macroeconomic Theory
    • Tullio Jappelli and Luigi Pistaferri, The Economics of Consumption

    A detailed reading list will be provided at the start of term.


ECTS Credits
Teaching language

Autumn. Offered autumn 2021.

Course responsible

Professor Gernot Doppelhofer, Department of Economics [main course responsible].

Assistant Professor Richard Audoly,  Department of Economics.