PhD Macroeconomics II

ECS507 PhD Macroeconomics II

Autumn 2024

  • Topics

    This course is designed for first year PhD students. We will use a basic neo-classical macro model as a workhorse to introduce price frictions and heterogeneity in turn. Knowledge of a basic Real Business Cycle (RBC) model is a prerequisite.

    The models we use and tools we learn is of interest even if you do not wish to become a macroeconomist. Several features, such as monopolistic competition and incomplete markets, are used in other fields as well.

  • Learning outcome

    Upon completion of the course, the student can:


    • Formulate the standard RBC model
    • Discuss how to introduce sticky prices into RBC models
    • Solve for optimal monetary policy


    • Formulate and solve a dynamic optimisation problem
    • Solve system of linear equations using log linearisation

    General competence

    • Convert real world concerns and policy debate to formal modelling
    • Build a research idea

  • Teaching

    The course consists of plenary lectures.

  • Restricted access

    • PhD candidates at NHH
    • PhD candidates at Norwegian institutions
    • PhD candidates at other institutions
    • PhD candidates from the ENGAGE.EU alliance
    • Motivated master’s students may be admitted after application, but are subject to the approval from the course responsible on a case by case basis
    • Individuals outside academia may be admitted after application, but are subject to the approval from the course responsible and the Vice Rector for Research on a case by case basis

  • Recommended prerequisites

    ECS506 PhD Macroeconomics I

  • Compulsory Activity


  • Assessment

    Grading will be based on a term paper that is to be completed individually. The term paper is handed out during the last week of lectures, and is to be completed within three weeks.

    Re-take is offered the semester after the course was offered for students who signed up for the initial evaluation.

  • Grading Scale


  • Computer tools


  • This is an ENGAGE-course

    This course is offered to PhD candidates from the ENGAGE.EU alliance.


ECTS Credits
Teaching language

Spring. Will be offered spring 2024.

Course responsible

Associate Professor Krisztina Molnar, Department of Economics (main course responsible)

Professor Tommy Sveen, BI Oslo