PhD Macroeconomics II

ECS507 PhD Macroeconomics II

Autumn 2022

Spring 2023
  • Topics

    This course is designed for 1st 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

    On successful course completion, the student will be able to:

    Knowledge

    • formulate the standard RBC model
    • discuss how to introduce sticky prices into RBC models
    • solve for optimal monetary policy
    • understand the consequences of incomplete markets and household heterogeneity
    • know the basics of so-called heterogenous agent new Keynesian (HANK) models

    Skill

    • formulate and solve a dynamic optimization problem
    • solve system of linear Equations using log linearization

    General competence:

    • master how to think in a model
    • build a Research idea

  • Teaching

    Plenary lectures.

    Lectures will be filmed and/or streamed.

  • 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

    ECS506 PhD Macroeconomics I

  • Compulsory Activity

    None.

  • 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.

  • Grading Scale

    Pass-fail

  • Computer tools

    Matlab

Overview

ECTS Credits
7.5
Teaching language
English.
Semester

Spring. Offered Spring 2022.

Course responsible

Assistant Professor Markus Karlman, Department of Economics (main course responsible)

Associate Professor Krisztina Molnar, Department of Economics