PhD Macroeconomics II

ECS507 PhD Macroeconomics II

Autumn 2023

Spring 2024
  • 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

    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.

  • Restricted access

    • 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

  • 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.

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

  • Grading Scale

    Pass-fail

  • Computer tools

    Matlab

Overview

ECTS Credits
7.5
Teaching language
English.
Semester

Spring. Offered spring 2023.

Course responsible

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

Professor Tommy Sveen, BI Oslo