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:

    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.

Overview

ECTS Credits
7.5
Teaching language
English.
Semester

Autumn. Offered autumn 2021.

Course responsible

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

Assistant Professor Richard Audoly,  Department of Economics.