ECS506 PhD Macroeconomics I

• 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:

  Knowledge

  • 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;

  Skills

  • 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

  Pass/Fail.

• 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.