ECS506 PhD Macroeconomics I
This is the first of two courses in macroeconomics in the PhD program at NHH. 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:
- Dynamic Programming
- Models of Economic Growth
- Overlapping Generations (OLG) models
- Incomplete markets models
- Real Business Cycle Models
A detailed syllabus will be circulated closer to the start of term.
By the end of the course, the students will achieve the following learning outcomes:
Be able to
- Understand the workhorse models in modern real macroeconomics.
- Evaluate the use of basic mathematical tools to solve a macroeconomic model.
- Apply a standard numerical package to solve a model.
- Evaluate the implications of uncertainty and market incompleteness.
Be able to
- Build a model to analyze macroeconomic research questions.
- Analyze economic questions with modern macroeconomic models.
- Model explicitly individual decision making, and then analyze aggregate behavior.
- Evaluate the implications of the methodology used in modern macro papers.
Be able to
- Communicate research questions, solution methods, and answer clearly.
Lectures and assignments.
- PhD candidates from NHH
- PhD candidates from University of Bergen
- PhD candidates from other higher educational institutions
- Promising master students if approved by course responsible
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.
Participation in class and completion of mandatory assignments.
Four hours individually written home exam. The exam must be written in English.
Compulsory activities (work requirements) is valid for one semester after the semester it was obtained. Re-take is offered the semester after the course was offered for students with valid compulsory activities (work requirements).
Some assignments will require to code in a quantitative programming language (eg, Matlab, Julia, Python).
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 2022.
Professor Gernot Doppelhofer, Department of Economics [main course responsible].
Assistant Professor Markus Karlman, Department of Economics.