PhD Macroeconomics II

ECS507 PhD Macroeconomics II

Spring 2024

Autumn 2023
  • Topics

    This course is designed for first 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

    Upon completion of the course, the student can:


    • Formulate the standard RBC model
    • Discuss how to introduce sticky prices into RBC models
    • Solve for optimal monetary policy


    • Formulate and solve a dynamic optimisation problem
    • Solve system of linear equations using log linearisation

    General competence

    • Convert real world concerns and policy debate to formal modelling
    • Build a research idea

  • Teaching

    The course consists of plenary lectures.

  • Restricted access

    • PhD candidates at NHH
    • PhD candidates at Norwegian institutions
    • PhD candidates at other institutions
    • Motivated master’s students may be admitted after application, but are subject to the approval from the course responsible on a case by case basis
    • Individuals outside academia may be admitted after application, but are subject to the approval from the course responsible and the Vice Rector for Research on a case by case basis

  • Recommended prerequisites

    ECS506 PhD Macroeconomics I

  • 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. Will be offered spring 2024.

Course responsible

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

Professor Tommy Sveen, BI Oslo