ECS507 PhD Macroeconomics II
Autumn 2022Spring 2023
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.
On successful course completion, the student will be able to:
- 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
- formulate and solve a dynamic optimization problem
- solve system of linear Equations using log linearization
- master how to think in a model
- build a Research idea
Lectures will be filmed and/or streamed.
- 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
ECS506 PhD Macroeconomics I
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.
- ECTS Credits
- Teaching language
Spring. Offered Spring 2022.
Assistant Professor Markus Karlman, Department of Economics (main course responsible)
Associate Professor Krisztina Molnar, Department of Economics