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:


    • formulate the standard RBC model
    • discuss how to introduce sticky prices into RBC models
    • solve for optimal monetary policy


    • 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


  • 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



ECTS Credits
Teaching language

Spring. Offered spring 2023.

Course responsible

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

Professor Tommy Sveen, BI Oslo