ECS506 PhD Macroeconomics I

• Topics

  This course is designed to give first year Ph.D. students an introduction to a broad selection of topics in advanced macroeconomics. 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:

  - Neoclassical growth models: Solow and Ramsey models

  - Overlapping Generations (OLG) models

  - Endogenous growth

  - Real Business Cycles and dynamic stochastic general equilibrium theory

  - Consumption

  - Fiscal Policy

• Learning outcome

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

   

  Knowledge

  • understand workhorse models in modern real 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

  Lectures, mandatory assignments and term paper presentations.

  Lectures will be recorded if students are unable to physically meet on campus due to covid-19.

  In the case of a new lockdown, lectures will take place via Zoom.

• Recommended prerequisites

  It is assumed as a prerequisite that students are familiar with macroeconomics at an intermediate (Masters) level.  

• Requirements for course approval

  Participation in lectures and completion of mandatory assignments.

• Assessment

  Individual written term paper  (70%) 

  The students will have one month to complete the term paper.

  Individual oral presentation of term paper (30%) 

  Duration: 30 minutes.

• Grading Scale

  Pass/Fail.

• Literature

  The main textbook is David Romer (2018) Advanced Macroeconomics. The readings will be supplemented with chapters from textbooks and with lecture notes. The actual reading list will be presented at the start of the course.