ECS507 PhD Macroeconomics II

• Topics

  This course is designed for 1st Year PhD students. We will use a  basic Real Business cycle (RBC) model as a workhorse to introduce money and labor market frictions in turn. Knowledge of a basic 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, discrete choice, incomplete information, are used in other fields as well.

• Learning outcome

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

  Knowledge

  • discuss how to introduce money into RBC  models
  • solve for optimal monetary policy, with a highlight of open questions after the 2008 recession
  • assess the consequences of basic  labor market imperfections

  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.

• Assessment

  TBA.